Global Payments – Secure, Fast and Transparent
Dentsu Aegis Network is one of the world-leading media, digital and creative communication agencies with annual sales of over £16 billion across a worldwide network covering more than 100 countries with 27,000 employees. Dentsu Aegis Network was formed in 2013 from Aegis Media and Dentsu Inc.’s non-Japanese media businesses and is headquartered in London.
Group Treasurer, Dentsu Aegis Network LTD.
The treasury team at Dentsu Aegis Network is centrally organized, managing cash, funding and foreign exchange on a group-wide basis. Having visibility over cash and debt balances across the group is critical to effectively manage liquidity. The challenge is to do this in a time and cost-efficient way, bearing in mind that the group operates 1000+ accounts with 100+ banks across 100+ countries. In addition, the group was seeking to streamline its payment activities across these accounts.
The Solution: BELLIN SWIFT Service with their own BIC
Coordination and harmonization of the tools used in the group’s treasury was the basis for increased cash visibility and more efficiency. Dentsu Aegis Network decided to implement BELLIN’s treasury management system with its integrated SWIFT service. It offers companies seamless connectivity to all banks via SWIFT from one web-based application. Dentsu Aegis Network received their own BIC, which is required for using all aspects of the global SWIFT network.
Today, Dentsu Aegis Network can use a single connection to communicate with all relevant banks. The solution is entirely hosted “in the cloud” by BELLIN: no investments in hardware were necessary. The treasury team can use the application just as well as the group’s subsidiaries and shared service centres – the system’s web-based technology enables group-wide use and is helping to speed up the multi-phase rollout and implementation process.
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