More NewsThomas Cook Selects XRT for Global Cash and Risk Management

Thomas Cook Selects XRT for Global Cash and Risk Management

Thomas Cook, the travel and leisure group, has selected XRT’s Globe$. Globe$ will replace a number of existing systems throughout Thomas Cook, connecting local offices to headquarters. By implementing XRT’s Globe$, Thomas Cook aims to secure corporate liquidity and improve forecasting, minimise financial risk and improve its corporate financing structure. The need for a clearer view of its cash position and improved forecasting is central to the company’s decision to implement the system. As Heiko Gerhard Ries, head of group cash management at Thomas Cook, explains: “One of the main objectives of any corporate treasury is to secure corporate liquidity, and to ensure that sufficient funds are available for all payment transactions. With operations in so many locations, it is imperative that we have a very clear view of our financial position at all times, both to ensure short-term liquidity and for longer term planning and forecasting.” Thomas Cook has headquarters in Oberursel, near Frankfurt, Germany, where its central treasury is located. In addition to its corporate treasury, it has large regional treasuries in the UK and Belgium

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