Implementation BELLIN’s TM5 at Schiphol Group
Schiphol Group is an airport business, with Amsterdam Airport Schiphol as its main airport. It also holds interest in three regional airports in the Netherlands. Schiphol Group is the owner and operator of Rotterdam The Hague Airport and Lelystad Airport and holds a majority share in Eindhoven Airport. Furthermore, the activities of Schiphol Group stretch out globally including direct and indirect business in the United States, Australia, Italy, Hong Kong and Aruba. Schiphol Group’s mission is connecting the Netherlands: connecting
the Netherlands to the rest of the world in order to contribute to prosperity and well-being in this country and elsewhere. It is Schiphol Group’s ambition to develop Schiphol into Europe’s Preferred Airport – the first choice of passengers, airlines and logistics services providers. Over the years, Schiphol has grown to become one of the largest hub airports in Europe, with 322 direct destinations. In 2015 the number of travellers served by Schiphol grew by 6.0% to over 58.2 million.
“BELLIN’s tm5 is a modern and easy to use treasury management system that captures our daily treasury processes, links to our core banks and ERP system and delivers the right input for treasury decision making. The collaboration with Enigma Consulting as implementation partner is experienced as useful and very pleasant by our treasury staff.”
|Industry||Airlines / Air transport|
|Founded, HQ||1916, Amsterdam|
|Annual turnover||EUR 1.42 billion (in 2015)|
|Modules in use||LM, TT|
|With BELLIN since||April 2015|
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.