More NewsGlobal One Launches Innovative Global Cash Pool

Global One Launches Innovative Global Cash Pool

Global One has put into operation a cash management solution encompassing the Euro, US dollar and British pound. The introduction of cross-border cash pooling solutions is part of a cash management project initiated by the Global One group treasury to significantly improve the use of cash throughout Global One. The project has improved cash flow control, reduced foreign exchange exposure and bank fees, and improved interest balances for Global One, a global telecommunications provider operating in more than 65 countries. The Global One cash management solution operates Euro accounts in individual European countries. These accounts are pooled cross-border into a master account. Klaus Hartmann, Vice President and Group Treasurer of Global One said, ‘Our global cash management approach reduces the number of transactional banks used by Global One from 85 local banks to three regional banks.’ The three appointed were Banque Nationale de Paris (Europe), Deutsche Bank (AMEA), and Citigroup (Americas). These banks provide standardised cash management services and a uniform fee structure throughout their regions. Named key account managers supervise the Global One relationship and provide the contact with the Brussels-based Global One group treasury.

Related Articles

Infosys Finacle to power Santander UK’s international cash management system

More News Infosys Finacle to power Santander UK’s international cash management system

3w The Global Treasurer
Preparing for GDPR? Here’s four things to consider

More News Preparing for GDPR? Here’s four things to consider

4m Elliott Wiseman
Cash flow in focus for investors

Cash Management Cash flow in focus for investors

5m Conor Deegan
Treasury TV: Karen Pugsley, Domino's Pizza Group

More News Treasury TV: Karen Pugsley, Domino's Pizza Group

5m Victoria Beckett
Treasury TV: Yeng Butler compares US and European MMF reforms

Compliance Treasury TV: Yeng Butler compares US and European MMF reforms

5m Victoria Beckett
Treasury TV: Tim de Knegt, The Port of Rotterdam

10 Minutes With The Treasury Treasury TV: Tim de Knegt, The Port of Rotterdam

5m Victoria Beckett
Banks are selling clients short with short dated cash deposit U-turns

Banking Banks are selling clients short with short dated cash deposit U-turns

5m Victoria Beckett
What does sterling’s Brexit boost mean for UK manufacturers?

More News What does sterling’s Brexit boost mean for UK manufacturers?

6m Tasja Botha