Centralizing the cash and collection of receivables at a group level can have a formidable impact on the working capital management of the entire organization. Meanwhile subsidiaries are offered an efficient tool and process for reconciliation and exception management on top of their AR.
If the original creditor can be identified, the reconciliation of the incoming transaction can be fully automated bringing significant efficiency gains.
These accounts can be either owned and maintained by the group treasury, in which case all the account statement transactions are allocated to the correct subsidiary, or they can be owned by the subsidiaries themselves, with agreed daily or weekly sweeps to the group treasury account.
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