Back in 2014, the management of Schiphol Group expresses the need to select and implement a new TMS to further improve and streamline the daily treasury operational activities. The treasury activities at Schiphol Group are simple and straight forward, but diverse, so the new TMS should be based on practicality and ease of use. For payments a highly secured and automated workflow needed to be integrated in the TMS and connected to their two main banks. The system is used group-wide.
Schiphol Group’s goal is implementing a TMS that supports the current operations and tackles future challenges. This should result in: secured and standardized payment processes; improved daily cash positioning and interest result; useful input for intercompany transfers; proven control that complies with the internal control framework; provide solid reporting and centralized cash flow forecasting.
During the scope & design phase with all project team members, Schiphol Group Treasury and Enigma defined and agreed upon the scope and plan for the implementation of tm5. For payments, the BELLIN SWIFT Service was selected for the connectivity to the core banks of Schiphol Group. Reporting is done via MT940 and treasury payments are initiated via MT101. Next to this, an interface was established between tm5 and VWD for the purpose of importing relevant market data into the TMS.
At the end of the implementation, the connection between tm5 and Oracle E-Business Suite to support the export of accounting entries to the general ledger was completed. Together with Enigma Consulting relevant reporting was set up, resulting in a clear view on daily cash balances and the input needed to decide on intercompany transfers and treasury dealing. Schiphol Group treasury is future-proof and ready for the challenges of tomorrow.