Citi Treasury and Trade Solutions
44
•
Integrated trade services and finance
solution
— A customized trade document
outsourcing solution (including letter of credit
(LC), confirmation and discounting options,
available on demand) was implemented,
leveraging Citi’s state-of-the-art online
technology, experienced outsourcing
team and vast corresponding banks global
network. This solution supports the LC
exports activities that are routed through
Keysight’s Singapore-based sales invoicing
entity. Keysight is able to enjoy an end-to-end,
operationally and cost efficient experience
such as discrepancy-free first-party documents
preparation, committed turnaround time, and
dedicated trade services professionals and
advisors to provide day to day operational support
and advice to Keysight’s credit control team.
•
Integrated commercial travel and expense
card solution
— A globally consistent, locally
compliant commercial cards program enabled
Keysight to gain visibility and control of
employee travel expenditures through an
automated approval and reimbursement
process. It further enabled Keysight’s
procurement team to analyze the volume
and value of transactions to facilitate vendor
negotiations. Through the execution of
the global card program over 3,000 cards
were issued across 27 countries and 37
entities. As part of the program, dedicated
card services and account managers are
assigned to provide on-going, all-round
support and assistance to address enquiries
from Keysight’s Commercial program
administrators and card holders.
The Results
Despite significant resource constraints and
competing priorities, the implementation has
been a great success, enabling Keysight to meet
all their critical milestones, and objectives
tasked upon the project team from both Citi and
Keysight. The project was designed with a
two-phase approach, aligned with the critical
milestone of August 2014, and December 23,
2014 respectively.
For the first phase, the focus was to enable
Keysight to gain banking and operational
independence. For the second phase, the focus
was on a massive technology and integration
transformation involving Oracle ERP
implementation and third-party vendor roll-out
of global host-to-host connectivity.
Both deadlines were met and Keysight enjoyed a
smooth transition in servicing its separated set
of global customers and vendors, as well as
employee obligations, seamlessly.
Within the short timeframe of one year,
Keysight established a world-class treasury
model that delivers a high level of liquidity
centralization, standardization and automation
of process and reconciliation, information
visibility and flows globally. The fact that
treasury was operationally efficient from day
one is a significant achievement, taking into
account complexities across Keysight’s four
distinctive regions (Asia Pacific, North America,
Europe and Latin America), both in terms of
legal entities structure requirements and the
diverse jurisdiction and regulatory landscapes.
Within the short
timeframe
of one year,
Keysight
established
a world-class
treasury model
that delivers
a high level
of liquidity
centralization,
standardization
and automation
of process and
reconciliation,
information
visibility and
flows globally.
