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Treasury Today’s Top Treasury Team

Best practice and innovation

In summary, Herc truly established a leading treasury department within a very short period of time. The speed with which this team mobilised

itself and tackled challenges after a transformational spin-off event is remarkable. Becoming a strategic business partner at Herc was not just

about increasing the scope of treasury activities but also required a focus on creating the right organisation, infrastructure, decision support tools

and systems to deliver on goals. From a performance assessment perspective, Herc Treasury delivered on:

Structure and skills:

Herc Treasury leadership designed a centralised treasury centre with a clear structure of banking and operations,

capital markets, and corporate finance, enabling subject-matter experts to deliver specialist skills to solve challenges across the enterprise.


Herc Treasury laid out a clear governance structure where treasury strategy is approved and governed by decision bodies

enabling transparent decision-making.

Policy and procedure optimisation:

Herc Treasury focused on streamlining and automating processes across payables/receivables,

compliance and operations, enabling strategic decision-making while delivering multimillion-dollars in savings.

Data analytics and deliverables:

Herc Treasury used technology and data analytics to revamp the banking, investments and capital

markets platforms with tangible deliverables to business partners.

Key benefit areas

The success or failure of a corporate treasury organisation can be evaluated by measuring excellence in execution of core functions and

being a strategic business and stakeholder partner.

Herc Treasury’s role in automating and re-engineering cash operations and banking administration workflows with a new banking

structure and liquidity framework optimised number of users, secured control environment and improved customer relationships with

multiple headcount savings. The initiatives also helped the company to cut fees from its banking wallet, reduce interest expense via

cash target optimisation and save costs from early TSA termination.

Herc Treasury, as a sophisticated risk manager, developed a financial strategy framework, de-risked the portfolio via capital markets

transactions and strategic investment allocation while introducing safe and sound compliance reporting and delivering substantial net

present value in savings.

In its role as a stakeholder manager, Herc Treasury has led strategic corporate initiatives while serving banks, rating agencies and investors.

In summary, given increasingly complex liquidity and funding requirements, Herc Treasury built a leading-class team to deliver liquidity,

risk and cost management, create shareholder value and be a strong partner to the business.

Chet Stefanski and Mustally Hussain, Herc Rentals Inc.

6 | treasurytoday Adam Smith Awards © August 2017