1TC 2020 BELLIN Treasury Champion Awards

Ron Jaradat author pictureAuthor: Ron Jaradat

Anja Biehler author pictureAuthor: Anja Biehler

Every year, BELLIN hosts 1TC, a growing and fantastic treasury management conference in Rust, Germany, inviting all our clients, partners, and exhibitors to discover what’s new in treasury.

1TC20, now in its 8th year, has grown to have over 500 attendees. The two-day conference contained engaging presentations, best practice workshops and ample time for networking with peers, industry players and key BELLIN stakeholders from management to product strategists.

1TC is also an opportunity for us to showcase some of our outstanding clients in the form of our annual “BELLIN Treasury Champions Awards,” which highlights a few of our clients who have demonstrated a mastery in treasury and system utilization.

This year the two awards categories and winners:

  • Best Global Payments Project: Brückner Group GmbH
  • Best Practice Overall: Ferguson plc

How Brückner Group achieved maximum security, flexibility and control for global payments

Johanna Knörrlein and Joseph Huber accepted the award for Best Global Payments Project on behalf of Brückner Group. Brückner Group has been a BELLIN client for more than 12 years and has achieved an unprecedented level of security for group-wide payments using the tm5 system with its integrated SWIFT connection as the group’s only channel for worldwide bank communication, complemented by BELLIN Connect and the introduction of limits.

Up until 2015, Brückner Group had various e-banking systems with separate applications and tokens and often no consistent dual approval process. Central treasury had no visibility over the payment processes of individual entities, especially abroad.

In the fall of 2015, Brückner Group decided to opt for SWIFT as its sole communication channel and extended the technical rollout in 2017 to include a group-wide standardized payment policy. This setup along with the introduction of internal limits and two-factor authentication in the summer of 2019 enabled Brückner Group to achieve:

  • Processing security: more than 95% of all payments representing a transaction volume of over 1 billion euros per year are processed via tm5 using clearly defined, standardized group-wide processes and dual approval across the board
  • Security through full transparency and visibility and administration of all authorizations at central treasury
  • Improved cash management and limitation of loss in the event of fraud by introducing daily limits

Brückner Group also stands to benefit in the future from this restructuring of payments. The independence and flexibility in relation to banks offered by the BELLIN SWIFT Service enables new companies to be integrated into the group extremely quickly. Group companies can process their payments securely and autonomously, while central treasury maintains an overview of group-wide payments and remains able to act at all times.

We would like to congratulate Brückner Group for this outstanding achievement.

Ferguson plc and Their Comprehensive Treasury Utilization

Royston DaCosta, Assistant Group Treasurer at Ferguson plc has been a close friend and longtime client of BELLIN, and was in attendance to accept the award.

In the past, Ferguson hosted their treasury solution on their internal servers, which required a significant amount of time and cost to maintain. Typically, this involved regular testing of the BCP (Business Continuity Process) or DR (Disaster Recovery) procedures.

In addition, the third-party vendor required Ferguson to upgrade at least every 2 years, incurring further costs and time.

Ferguson plc first implemented BELLIN’s cloud based TMS, tm5, in 2015 with their objective being to automate and streamline manual processes wherever possible.

The result: Ferguson have not only outsourced the maintenance of the solution, but also secured a higher level of security around their data, and at a lower cost. Ferguson’s treasury have implemented 14 cloud-based solutions and have obtained the necessary security certification for all relevant treasury systems.

Royston noted that BELLIN has been pivotal to achieving most of this automation. In fact, it has resulted in several of Ferguson’s treasury processes being automated and embedded within the system, laying the groundwork for the wider group to take advantage of this efficiency.

With BELLIN tm5, Ferguson have experienced the following improvements:

  • Two factor authentication on all payments approved using your smart phone is a huge improvement. This is also on top of the payment templates being pre-approved.
  • 100% visibility of all their group’s bank accounts
  • Allow-listing of IP addresses – the ability to control users accessing the system
  • Email alerts sent to various stakeholders informing them of any actions conducted in the system (authorized or un-authorized)

What has made Ferguson plc stand out as our Best Practice Overall winner was their continued strides in the realm of cyber fraud prevention. Ferguson plc has made it a point to ensure an automated future-proofed technology landscape within their corporation. Their treasury department, from both a structural and technological point of view, is prepared to react to any potential threats.

Congratulations again to Ferguson plc and the entire treasury department doing great work.

Would you like to learn more about BELLIN tm5? Just reach out to us for a tm5 demo, or visit our main tm5 page.

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