Cash & Liquidity ManagementPaymentsCase study: Superbet treasurers enjoy the fruits of automation

Case study: Superbet treasurers enjoy the fruits of automation

Fast-growing betting and gaming firm Superbet teamed up with Kyriba to upgrade its treasury processes with sterling results

Treasurers at betting and gaming firm Superbet are hailing much-improved visibility, control and speed after successfully automating their cash management and payments business processes.

Angela Elisei, group treasury manager at Romania-headquartered Superbet, says the upgrade has also delivered major time savings for her team – estimated to be at least 30% – thanks to the move from a series of manually performed treasury processes to an automated and integrated end-to-end workflow in a treasury management system (TMS).

“As Superbet Group operates in multiple locations with over 20 banks, 2,000 bank accounts, and silos of accounting systems, it was always very challenging for us to gather all the information needed for reports,” says Elisei. “Each country used a different system, and we used to generate cash reports on a weekly basis.”

Superbet’s previous treasury operation payment control was low and treasurers had to access each bank account to check the transactions, she says. Payments were also delayed by the need for email approval.

“We wanted a TMS that gave us visibility and linked up with our ERP. The project vision was ambitious, but in the end, we achieved better flows and visibility in many areas. In simple terms, we achieved our goals. Now we can trust our figures,” says Elisei.

Single source of truth

Other major benefits of the upgrade, which was carried out in partnership with Kyriba and went live in January 2021, include seamless, real-time connectivity and dataflows between the group’s treasury, the group’s banks, and the group’s ERP system.

The solution also supports all local and corporate financial and operational business processes used by Superbet Group companies.

“The group now has consolidation, visibility, control and reporting of cash balances on all bank accounts and payments have been centralised and automated,” says Elisei. “Thanks to the upgrade we now have a unified treasury system of record and a “single source of truth” running throughout the organisation.”

The upgrade by the company, which employs 4,000 people across 10 countries including the UK, Belgium and Poland also means its treasury team now has approval flows prior to making payments. That, says Elisei, has helped eliminate human mistakes and made operations more efficient, giving the treasury team greater confidence as they carry out their daily responsibilities.

“Real-time reporting of account balances has been another important benefit for the department and implicitly for management. It provides visibility and ease in analysing and making decisions regarding cash management,” she adds.

Currently, Superbet’s treasury is implementing Kyriba’s fraud detection module, which Elisei says will provide her team with more confidence in their operations and help support the group’s expansion into other markets. Further ahead, there may also be potential to add debt exposure and FX management risk solutions.

Ionut Grama, sales director for CEE and Turkey at Kyriba, says Superbet’s treasury upgrade is an example of digital transformation that can provide corporates with a wealth of strategic and operational opportunities.

“Greater digitalisation is key to corporates improving performance in classic treasury disciplines like cash forecasting and risk management”, he says.

“It improves cashflow visibility and optimises liquidity across the organisation. It also increases efficiency, reduces cost, saves time, as well as enabling more effective risk management,” he adds.

“As real time technologies are increasingly combined with AI, the future possibilities for optimising operations will be limitless.”

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