Cunningham Lindsey Group, a third-party loss adjuster based in Tampa that operates in 50 different countries, implemented a treasury workstation to automate what had been highly manual treasury processes.
Cunningham Lindsey's four-person treasury team was working with 52 controllers worldwide who provided cash forecasts and bank reporting via spreadsheets. Prior to implementing a workstation, treasury received weekly cash updates from just 25% of its entities worldwide, covering about 8% of its global bank accounts, and experienced an average variance of 20% on its cash forecasts.
The company selected Kyriba, says Elizabeth Ecsy, director of treasury, because its cash forecasting system "is fairly customized and fairly easy to use as well." Cunningham Lindsey also put in place SWIFT connections with all of its banks able to able to provide SWIFT reporting.
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:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world case studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 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.
