A Textbook Example of Treasury Automation with ManpowerGroup
Company Size
1,000+
Region
- America
Country
- United States
Product
- GTreasury
- TIS
- Oracle ERP
Tech Stack
- SWIFT
- H2H
- ACH
- SEPA
- EBICS
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Cost Savings
- Customer Satisfaction
- Digital Expertise
- Productivity Improvements
Technology Category
- Analytics & Modeling - Predictive Analytics
- Application Infrastructure & Middleware - Data Exchange & Integration
- Functional Applications - Enterprise Resource Planning Systems (ERP)
- Functional Applications - Remote Monitoring & Control Systems
Applicable Industries
- Professional Service
- Software
Applicable Functions
- Business Operation
Services
- Cloud Planning, Design & Implementation Services
- Software Design & Engineering Services
- System Integration
About The Customer
ManpowerGroup Inc. is a leading global staffing company, recognized as a Fortune 500 enterprise with approximately $21 billion in annual revenue. The company employs 25,000 people and has 600,000 workers on assignment across more than 75 countries. Founded in Milwaukee, Wisconsin, ManpowerGroup's primary headquarters remains in Milwaukee. The company's global treasury operations are managed by a three-person team based in Milwaukee, responsible for overseeing $1.5 billion in daily liquidity. Despite its vast global presence, ManpowerGroup faced challenges in managing its treasury functions due to a lack of integrated financial technology, relying heavily on manual processes and Excel.
The Challenge
ManpowerGroup faced significant challenges in managing its global treasury operations due to a lack of integrated financial technology. The company relied heavily on manual processes, Excel, and bank portals, which resulted in limited visibility and control over cash positions, payments, and bank relationships. The use of over 150 banks and 1,200 bank accounts, with less than 25% daily visibility at the HQ level, further complicated the situation. This lack of integration and connectivity made it difficult to calculate daily cash positions, monitor payments activity, and manage the enterprise cash pool. The delays in receiving cash balances and payments data from local subsidiaries hindered short-term forecasting and cash management, obstructing the ability to pool and repatriate cash effectively.
The Solution
To address the challenges, ManpowerGroup embarked on a comprehensive overhaul of its treasury technology stack. The company selected GTreasury as its Treasury Management System (TMS) for cash forecasting and liquidity management, TIS for Enterprise Payments to automate the payments process and improve visibility, and Oracle ERP for broader financial management. The implementation began with configuring TIS to connect with ManpowerGroup's 15 core banks and nearly 500 bank accounts, using diverse connectivity channels like SWIFT, H2H, ACH, SEPA, and EBICS. This setup provided daily visibility into the core bank account structure and enabled automated payment processing. The next step involved integrating the TMS with TIS to facilitate seamless payment file delivery and bank statement reporting. Finally, the ERP was integrated with both the TMS and TIS to ensure real-time transmission of payments, liquidity, and forecasting data across departments.
Operational Impact
Quantitative Benefit
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