Search
 

Bronze AHA Winner in Liquidity Management

Getting the Scoop on Outlying Accounts: Omnicom Group

By Staff Writer | Updated on November 01, 2011

To get full visibility into the cash of its businesses—1,500 ad agencies worldwide—$12.5 billion Omnicom Group was bumping into limits. As recently as 2009, it had 3,600 accounts in 150 banks on six continents. Then treasury took steps to concentrate and mobilize more than 90% of non-restricted cash daily by using pools and sweeps. The company also centralized much of its cash management activity in a regional in-house banking structure that provided real-time visibility into all the included accounts. But balances in accounts outside that structure were revealed only at month-end.

“Without knowing those balances, we could not fully optimize our allocation of liquidity or quantify all our risk,” says Conor Leyden, project lead and managing director in Omnicom’s Dublin treasury center.

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.