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Note: We feel that we should not advertise at the cost of our clients. These client cases serve to show that we have enough references from a wide range of different organisations. Names and contact details can be given upon request.

Client Cases

  • Analysis of Embedded Derivatives for European Port

    Treasury Services analyzes Embedded Derivatives for European Port.

    Due to the new RJ 290 accounting regulations (similar to IFRS 9 and IAS 32) regarding Embedded Derivatives, Treasury Services, commissioned by the Port Authority, has done a study of Embedded Derivatives in all contracts (rental, sales, purchasing, maintenance, etc.) of the Port Organisation.

    These embedded derivatives needed to be evaluated with the aim to comply with changing laws and regulations.

    In close cooperation with the Treasury Controller of the Port, Treasury Services has successfully completed the task.

    About the Port Authority:

    The Port handles the development, construction and operation of the Port and promoting an effective, safe and efficient handling of shipping in the Port and the approaches to the cost.


  • Audit Firm

    Big Audit Firm choses TreasuryMetrics as their platform for services to clients.

    The specialised Treasury Solutions business unit of this Audit giant has chosen TreasuryMetrics as their platform for offering Treasury outsourcing services to clients. TreasuryMetrics was chosen after an intensive audit on a wide variety of matters, inclusive an intensive audit on the source code of the software. The functionality of TreasuryMetrics was rated “best in class”. TreasuryMetrics will supply the functionality for the Treasury Outsourcing services that will be offered by the Treasury Solutions business unit of this Audit firm.


  • Belgian based world global specialist in alkylamines

    Corporate asks Treasury Services to design the worldwide risk management infrastructure.

    Treasury Services was asked to re-design and implement the risk management policies, risk management infrastructure and risk management processes after the corporate suffered unexpected foreign exchange losses. Operational companies now can determine “the cost price of risk” while making commercial decisions; clear processes were implemented for the identification and quantification of foreign exchange risks in the operational businesses and for the centralisation of the risks to headquarter level; on headquarter level policies and processes were implemented for the centralisation of foreign exchange risks from the operational companies, for the hedging process in the financial markets, and for the accounting of hedges. Hedge accounting was implemented and the processes as described by IFRS and FASB were automated. The implementation of the new structure was supported by a dedicated training for the operational businesses and for the people at headquarter level.


  • Belgian real estate developer

    Treasury Services implements TreasuryMetrics.

    This organisation chose TreasuryMetrics Risk Management as their software to manage their interest rate risk and to implement the IAS-39 compliance rules for hedge accounting on outstanding interest rate derivatives. The entire implementation was finished in 3 weeks time.


  • Dutch financial institution

    The organisation choses TreasuryMetrics for their Interest Rate Risk Management. We were selected based on our functionality.

    The organisation supplies high added value services in credit management as supplier and manager of mortgage portfolios. The organisation manages different mortgage portfolios, where also the prepayment risks are managed with different interest rate derivatives. TreasuryMetrics was chosen to manage their portfolio of interest rate derivatives. Additional functionality was developed to support non-standard interest rate derivatives and to measure the prepayment risk on mortgage portfolio’s. We were able to increase the risk management information for the traders and the risk control department and at the same time significant time savings could be achieved for different parts in the organisation.


  • Dutch leading Asset Management Firm

    Treasury Services develops In-House Bank software.

    Treasury Services first performed a Treasury audit for this asset management group of an international bank. Enhancements in controls were implemented and additional efficiencies could be created. Thereafter Treasury Services was asked to develop In-House-Bank software; the asset management firm also implemented our Cash Management software.


  • Dutch real estate corporation

    Treasury Services was asked to analyse and judge the interest rate hedging strategies proposed by banks.

    The corporation received different alternative hedging strategies from banks without even asking or analysing what the risk of the corporation really was. In many cases the propositions were that complex (Index Swaps) that the derivatives could not be judged on their added value and it was difficult to calculate the Fair Value and Market-to-Market. Next to that the question was, once we have these derivatives in our books, can we sell them to other banks if we don’t need them anymore? Treasury Services supplied the corporation with an analysis toolpack to perform these calculations and Treasury Services supplied a dedicated tailor made training. We also supplied the corporation with a methodology to quantify and measure the risk, and to decide which hedging instruments would be able to decrease / manage the risk. The corporation now uses simple hedging instruments which are 100 % effective and the organisation is perfectly in control on the entire process.


  • Dutch Real Estate Corporation (2)

    Treasury Services assists with Interest Rate Risk Management

    Because of the nature of the business, this real estate company has a high interest rate exposure. This corporation was facing the problem to quantify their interest rate exposure and they were looking for a model to judge the complex exotic derivative advices they were receiving from their banks. Treasury Services developed and implemented an Interest Rate Risk measurement structure, we developed a derivative pricing model and we supplied a dedicated interest rate risk management training.


  • Dutch specialist in breeding vegetable seeds

    The family owned company choses TreasuryMetrics for Cash Management.

    TreasuryMetrics was chosen to manage the worldwide cash management organisation. The organisation consists of roughly 60 entities in 26 countries across all regions of the world. The system will be used by all legal entities. First objective was to visualise and then collect “trapped cash” accross the entities in the 26 countries. Next steps were to set up cash pooling steered through TreasuryMetrics; implementation of the deal station to centralise and manage risks; support for inter-company finance and external finance. We were able to significantly improve the financial efficiency, improve management information and we realised significant annual recurring cost savings.


  • Implementation Bank Independent Cash Pooling

    Corporate client chooses to organize the cash management organization differently. The solution provides an answer to today’s actual issues and it provides opportunities in the corporate finance function.

    The reason to choose for a bank independent cash pooling has to do with the fact that the Client is working with a significant number of local banks where bank accounts are maintained. The existing overlay cash management structure was not able to satisfy the wish of the Client to keep on working with these local banks. The existing banking solution proved to be expensive, difficult to adjust, and unfair covenants were asked for in agreements. Also external regulators (i.e. Basel III) will make it increasingly difficult for banks to offer a cost effective solution. A situation and challenge that many Treasurers will recognize.

    Also the recent developments with a number of big cash management banks has increased the need for bank independency in order to create continuity in the cash management organization. Therefore the Client launched a project to optimize and stabilize the cash management organization.

    The Client made the choice to organize the cash management organization differently. The solution provides an answer to today’s actual issues and problems (among others, banks re-defining core business) and the solution provides other opportunities to work with local banks that have added value to offer for the organization, without having to face the disadvantages in the cash management organization. The solution developed also brings stability in the funding of the organization and it will decrease bank dependency.


  • International Banking Group

    Treasury Services develops a dedicated Cash Management training for the cash management consultants of the bank.

    The bank asked Treasury Services to develop a dedicated training for the bank’s cash management consultants. The bank recognised that it is particularly important for their consultants to understand the “world” of Corporate Treasurers and Corporate Cash Managers, so that questions and needs from their clients could be recognised and solved. The training was supplied to all cash management consultants in Europe.


  • International Banking Group (2)

    Treasury Services performs audits on the Treasury function for different business parts of the Banking Group.

    Treasury Services was asked to audit the Treasury function for various business parts of the bank. Treasury Services performed audits and implemented improvements for the asset management group, the real estate group and the insurance group on liquidity management, investment management, risk management and asset liability management.


  • International Cinema Group

    Treasury Services develops a derivative pricing model.

    Treasury Services was asked to develop a model to price, analyse and compare different derivatives. The company needed the model also to calculate the Fair Value and Market-to-Market of outstanding derivatives.


  • International fashion and lingerie supplier

    Treasury Services implements TreasuryMetrics.

    After an intensive RFP process with different TMS suppliers, the company decided to chose for our TMS software TreasuryMetrics. Our software was chosen because of our functionality, our services and the quality of our helpdesk. The entire implementation, both functionally and technically, was finished in 3 weeks time. The efficiency in finance is improved, management information is optimised and structural savings in recurring costs could be made.


  • International Group in Plastics

    Treasury Services re-designs the Treasury department and the corporate choses TreasuryMetrics as their Treasury Management System.

    Treasury Services was asked to re-design the Treasury department of this multi-national corporate. Their cash pooling structure was enhanced with a software cash pooling solution. We designed a multi banking pooling across all regions steered through TreasuryMetrics. The risk management infrastructure was re-designed in policies and processes. TreasuryMetrics was implemented to enhance the measurement and the management of financial risks throughout the entire organisation. The finance function, inclusive the factoring service centre, is now fully supported by TreasuryMetrics. TreasuryMetrics was able to realise significant annual recurring savings and we collected a significant amount of “trapped cash”.


  • International leader in Micromotors

    Treasury Services designs and implements the EMEA Treasury

    This Chinese multi-national corporate has its European headquarters in Switzerland. We were chosen based on senior management’s previous experience with Treasury Services while working for another corporate.

    Treasury Services was asked to design and implement the EMEA Cash Management infrastructure. From an analysis of the cash flows and the processes, a cash management structure was designed to optimise the services in transactional banking and to maximise the synergy and savings for the corporate. Banks were benchmarked on the quality of the services and their pricing. After implementation additional savings and synergy could be created in risk management and liquidity management.


  • International leading Food Corporate

    Treasury Services re-designs the cash management infrastructure.

    Because of the growth of the company, adjustments in the Treasury infrastructure were needed. As the corporate has an enormous volume of transactions moving over their bank accounts, a standard pooling structure would not bring them the optimal benefits. After a thorough analysis Treasury Services developed a correspondent bank cash management network, which resulted in the reduction of banks to a core banking group and eliminating hundreds of bank accounts. Their cash management infrastructure now belongs to one of the most advanced structures around the world. The new cash management structure has collected a very significant amount of ”trapped cash” for debt reduction and the costs for transactional banking were reduced significantly. Apart from the significant savings in the cash management area, a core banking group was establised, which also optimised the corporate finance function. A securitisation program was set up and a senior finance facility was established. The group now has more credit lines at reduced spreads and with standard covenants.


  • International manufacturer of SMT equipment

    Treasury Services develops a Foreign Exchange Risk Management infrastructure.

    This organisation is a former business unit of a worldwide leading electronics technology corporate, who is also a client of Treasury Services. Treasury Services was asked to assist the business unit with the disentanglement from the corporate. An important focus point was the development of a foreign exchange risk management infrastructure, with special attention on the hedging of anticipated exposures. An infrastructure was developed from the business units to the central Treasury for the identification, quantification and centralisation of the risks. The procesess were implemented with the support of a dedicated training programm for the export managers, purchasers, controllers and the people from Treasury. Policies were developed for the decentralised business units and the central Treasury department.


  • International manufacturer of technical highgrade components

    Treasury Services develops a Cash Management structure.

    Treasury Services assisted a worldwide leading electronics technology corporate with the transfer of a business unit to this components manufacturer. In first instance Treasury Services was asked to develop a Cash Management infrastructure for the business unit, but when the unit was taken over, the new parent asked to extend the project for the entire Group.


  • International meat supplier

    Treasury Services develops a Cash Management structure.

    Treasury Services was asked to develop a Cash Management infrastructure with the purpose to minimise the net required debt and to minimise bank costs for transactional banking. Collection of “trapped cash” reduced the net debt position by 10 % and bank costs for transactional banking were reduced by 40 %.


  • International real estate developer

    Treasury Services implements TreasuryMetrics.

    Treasury Services assisted this company with the development and implementation of their interest rate risk policy inclusive the IAS-39 compliance rules for hedge accounting. Our solution was judged by the mother company as “the best solution they ever encountered”. After the implementation of the project, the company decided to implement TreasuryMetrics to automate the processes. The software is also used to benchmark the pricing from banks and to judge bank proposals.


  • International supplier of roofing systems

    Treasury Services develops a Cash Management infrastructure.

    This organisation has operations in Europe, Asia and the Americas. Treasury Services assisted with the development of a Cash Management infrastructure so that “trapped cash” could be collected for debt repayment and banking costs for transactional banking could be minimised.


  • International supplier of specialty wire and cable products

    Treasury Services develops a Risk Management infrastructure for managing the price risk on Copper.

    The corporate was facing an enormous price increase in one of their main raw materials, Copper. In one year time prices moved from $ 1.000 to $ 8.000. Treasury Services was asked to develop a Risk Management infrastructure so that the price risk could be managed with a longer term time horizon. The objective was that the corporate should be able to profit from price decreases in Copper prices, but that price increases would be hedged. We developed and implemented a policy and the related processes and we supplied a dedicated training for the purchasers. We also developed a pricing & analysis model as a software solution.


  • Leading global Dredging service supplier

    Treasury Services develops and implements new policies and processes.

    Treasury Services was asked to re-define the Treasury Policy, with special attention on the Foreign Exchange Risk Management aspects. Like many other companies, the corporate wanted to increase the efficiency of the management of anticipated foreign exchange exposures. Also the IAS-39 compliance rules for hedge accounting were implemented. As the compliance rules for hedge accounting were not supported in their systems, we developed a dedicated application to automate the Fair Value, Market-to-Market and Effectiveness Test calculations.


  • World leader in electron microscopy technology

    Treasury Services develops a Foreign Exchange Risk infrastructure.

    This organisation is a former business unit of a worldwide leading electronics technology corporate, who is also a client of Treasury Services. Treasury Services was asked to assist the business unit with the disentanglement from the corporate. An important focus point was the development of a foreign exchange risk management infrastructure, with special attention on the hedging of anticipated exposures. An infrastructure was developed from the business units to the central Treasury for the identification, quantification and centralisation of the risk. The procesess were implemented with the support of a dedicated training programm for the export managers, purchasers, controllers and the central Treasury people. Policies were developed for the decentralised business units and the central Treasury department.


  • World leader in optical drive disc products

    Treasury Services implements TreasuryMetrics.

    Treasury Services assisted a worldwide leading electronics technology corporate with the disentanglement of a business unit. Treasury Services developed a cash management structure for the business unit; when the unit was taken over by an Asian corporate, the new parent decided to implement the structure for the entire group and TreasuryMetrics was chosen as their core cash management system.


  • World leader of navigation products

    Treasury Services develops a strategic foreign exchange risk infrastructure.

    Through the growth of this company, also the foreign exchange exposure was growing rapidly. The corporate asked Treasury Services to develop a Foreign Exchange Risk Policy that would eliminate the negative impact of foreign exchange fluctuations on anticipated exposures for the time horizon equal to the (economic) life time of an navigation model. Next, we developed a model to hedge their competitive position against their main competitor. We developed a dedicated application to measure and manage the exposure and to automate the execution of the IFRS hedge accounting compliance rules.


  • World leading coating company

    Treasury Services realises above target savings.

    After this corporate acquired a new business unit, it was decided to sell the outstanding interest rate hedges of the business unit (which was formerly owned by a private equity investor). Treasury Services was asked to calculate the Fair Value of the outstanding hedges after an investment bank offered a price for the portfolio. Treasury Services however calculated a Fair Value which was millions of EUR higher than what the bank offered. The end result of the analysis and various discussions was that the bank admitted that they made a mistake in the Fair Value calculation.

    After this fast success Treasury Services was asked to develop and implement the EMEA cash management structure. After implementation of the structure we were able to collect a very significant amount of “trapped cash” for debt reduction. We were also able to decrease the bank costs and the organisation costs significantly. After completion Treasury Services was also asked to develop and implement a foreign exchange risk management infrastructure.


  • World leading Electronics Technology Corporate

    Corporate Investments choses Treasury Services as core partner.

    The Corporate Investments department is responsible for the M & A activities of this worldwide leading electronics technology company. Treasury Services assisted Corporate Investments with the disentanglement process of business units that were desinvested from the corporate. Sometimes a complete new Treasury infrastructure needed to be set up and sometimes the units needed to be integrated in the Treasury infrastructure of the new parent. We executed numerous projects to assist with the disentanglement of various business units. For the M & A activities Treasury Services also developed a pricing model to calculate the fair value of companies.


  • World leading international shipping group

    The corporate choses TreasuryMetrics to replace their TMS.

    Our software TreasuryMetrics was chosen to replace the company’s TMS because of our functionality, our services and the quality of our helpdesk. Treasury Services developed additional tailor made functionality for the company to achieve an optimal support of the organisation. Our In-House-Bank payment factory now offers the possibility to significantly reduce the number of vendor payments via clustering; all intercompany cash flows are now settled through the internal bank accounts of the In-House-Bank; the compliance rules for hedge accounting are fully automated; the functionality for cash management and risk management is optimised.


  • World leading pharmaceuticals corporate

    Treasury Services develops an analysis model for employee stock options.

    The corporate is supplying their senior managers with a stock option plan where managers need to make a choice on different alternatives of the plan within a certain time frame. After the choice is made, a grace period of 2 years starts. Treasury Services was asked to develop an analysis toolpack that managers could use to make a choice based on quantitative grounds, taking into account different aspects like taxes, profitablity, risk and financing costs. The toolpack was presented with a dedicated training to the various managers.


  • Worldwide manufacturer of fiber products

    Treasury Services implements TreasuryMetrics.

    Treasury Services first assisted the corporate with the development and implementation of a new cash management structure, a foreign exchange risk infrastructure and treasury policies. When this was succesfully completed the corporate decided to implement TreasuryMetrics as their Treasury Management System.