GOLD CASH MANAGEMENT WINNER

PepsiCo Inc.

In 2005, PepsiCo Inc.'s treasury helped develop a sophisticated system that provided a single view of its global cash in bank accounts. But while treasury was dealing with euros and rupees, it also had its hand in tackling the problem of nickels and dimes facing its Frito-Lay division. At 47,000 of the 430,000 retail locations, sales representatives would deliver orders of Frito-Lay snacks, generate an electronic bill on the spot and then wait for the clerk to count out the money to pay for the delivery. Needless to say, the reps ended up carrying increasingly more cash–collecting cumulatively about $1 billion annually. At the end of the day, they would convert it into money orders and overnight the deposits to the corporate lockbox. The process was dangerous, time-consuming and error-prone. For the corporate treasury, it meant delayed access to funds.