Search
 

A Win-Win for Win

WinWholesale started with A/P and A/R when the plumbing and electrical distributor set out to centralize treasury operations at a company that seemed to defy the concept of centralization

By Richard Gamble | Updated on February 01, 2008

If you wanted to pick a company less well suited to centralized treasury, you couldn’t come up with a better candidate than WinWholesale Inc. in Dayton, Ohio. A $2.6 billion distributor of plumbing, electrical, heating and air conditioning equipment and supplies, WinWholesale isn’t just decentralized–the company is essentially an organization of 452 separate, locally owned and entrepreneurially run businesses. But for Ward Allen, Win’s vice president of finance, getting the efficiencies from centralization and automation of treasury processes was important enough to attempt to jump those hurdles. “We want our guys moving merchandise into the back of pick-up trucks, not taking checks to the bank,” Allen asserts. “But we have a unique structure, and no off-the-shelf technology would work for us. Everything has to reconcile back to the local level. So we built our own, which gives us the flexibility to build out our corporate structure our way.”

At the beginning of its centralization adventure, Win focused on its accounts payable and receivable and its credit syndication–with its initial biggest success stories coming out of A/P. As one might expect, it required extraordinary cooperation with its bankers, inventive approaches to old problems and smart coordination with its information technology department, but its distinctive blend of the innovative with the traditional is creating a buzz in the treasury operations world. “The sales side and customer relationships are very decentralized at Win, which at most companies would mean some loss of efficiency. But Win has been able to use overarching technology and strategic outsourcing to get the efficiencies of centralization with very little loss to their entrepreneurial culture and the growth that it brings,” notes consultant Craig Jeffery, head of Atlanta-based Strategic Treasurer LLC.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2024 ALM Global, LLC. All Rights Reserved.