This global health nonprofit organization is dedicated to improving the health of people in the developing world and operates in over 50 countries.
This global health nonprofit organization is a network of over 50 local organizations, which span multiple countries worldwide. These entities held almost 200 bank accounts with more than 50 banking partners, many of which were local banks in markets with relatively unsophisticated infrastructure. Consequently, the parent nonprofit’s visibility of local cash positions was limited: it only had access to end of month statements if they were provided by the local office. Moreover, viewing cash positions at field offices involved numerous manual processes, which were time consuming and cumbersome. This lack of transparency made budget forecasting difficult, and hampered efforts to improve cash and liquidity management.
Citi proposed the use of its web-based TreasuryVision® service to give the nonprofit visibility and control of its cash worldwide. TreasuryVision provides multi-currency and multi-bank information aggregation. It also offers powerful analytic reporting and sophisticated treasury workflow tools like cash flow forecasting and account management.
By gaining the ability to view their overall positions across multiple banks, the nonprofit can produce accurate forecasts and more effectively manage global liquidity and risk. Local organizations can retain existing bank relationships and account structures: data is simply sent to Citi via SWIFT messages on a real-time or end-of-day basis.
Using TreasuryVision, the global health nonprofit organization now has visibility and control at parent level of cash held by its local organizations worldwide. By gaining visibility into its consolidated cash position across all field offices, it can more accurately forecast cash needs, improve its budgeting, and fund local offices more effectively. It also has the potential to optimize interest at headquarters level by consolidating surplus funds where possible. At field office level, the administrative burden associated with account management has been reduced, enabling them to focus on operational goals.
TreasuryVision has provided the organization, which has limited treasury resources, with many of the functions of a Treasury Management System without requiring a significant investment.