Brady Corporation Awards BAML Regional Cash Management Business
Bank of America Merrill Lynch (BAML) is implementing a regional cash management and liquidity management solution for Brady Corporation’s Asia-Pacific operations. The solution covers 12 countries in the region, including payroll management and regional cash concentration solutions.
The cash management platform will enable Brady Corporation to increase efficiency and allow it to have complete visibility and control over all of its BAML bank accounts globally.
“What we needed was a single global cash and liquidity management solution. By consolidating to Bank of America as our international banking partner, we now have a scalable model to optimise our investing activities and streamline our payables and receivables processes. In addition, we have gained greater visibility and control over our cash balances and movements which afford us the opportunity to further enhance our foreign exchange strategy,” said Brady chief financial officer (CFO) Thomas Felmer.