Trinity has more than 20 years experience in leveraging digital innovation to solve specific treasury problems with high usability and high security standards. This case study describes advantages and benefits of the time efficient implementation of the Trinity Treasury Management System at CECONOMY, Europe‘s largest Consumer Electronics platform.
As part of the METRO demergers, a future-proof treasury management system was successfully implemented at CECONOMY in the shortest possible time.
The Trinity Treasury Management System with integrated payment platform was time efficiently implemented within the transitional period of the demerger. With the Trinity Treasury Management System, CECONOMY optimizes all treasury processes. In addition to standard functions such as cash, liquidity and foreign exchange management, CECONOMY manages all financial transactions such as investments, loans and credit lines, derivatives, guarantees, etc., including the related risk management with Trinity. The easy-to-use reporting covers both standard reports and the regulatory reporting required, such as e.g. EMIR. All treasury modules are seamlessly integrated into the electronic banking platform.
Customer: CECONOMY as a result of the METRO demerger is Europe‘s largest Consumer Electronics platform with strong brands like Media Markt and Saturn. CECONOMY operates a fully multi-channel and digitally-enabled 1,000+ store network with a leading position in 8 out of 14 countries.
Industry: Consumer Electronics, Retail
Company size: 21.4 €bn sales, 650 €m EBITDA (FY 2017/18)
What was the problem?
• METRO demerger disclosed the need for restructuring the treasury landscape and therefore the installation of a new comprehensive Treasury Management System
• Selection of a new bank pool and the bank onboarding processes
• Setting up audit-conform and regulation-compliant processes
What were the customer‘s requirements?
• As part of the demerger project, there was no time buffer for the modernization of Treasury Management, a time-efficient implementation was therefore an indispensable prerequisite for success
• Fulfilling all regulatory requirements
• State of the art technology platform
• Highest security standards
• High usability and flexible reporting
• Integrated payment plattform for operational and financial payments
Which advantages and benefits did Trinity deliver?
• State of the art technology platform (Oracle, Java, Cloud)
• Agile, fast, effective real time implementation
• Highest security standards
• High degree of integration between Trinity Treasury Management System and operative payment platform
• All treasury transactions with the respective status in one system (securities, forward transactions, derivatives, money and capital market transactions, syndicated and bilateral credit lines, recognition of contingent liabilities, etc.)
• Market Data Service with currency rates, interest rates, securities and spreads analysis from Bloomberg, market data are distributed via Trinity to SAP systems and other divisions
• Flexible reporting of daily doing, closing, IFRS as well as regulatory reporting (e.g. Z-reporting and EMIR) via Regis-TR
• Assistance in further automation and digitization in the settlement of treasury transactions, e.g. central management of the SSI (Standard Settlement Instructions), integration of Finastra (Misys), fully automatic interface to 360T, also with the involvement of the 360T auto dealer
• Increase of comfort, reduction of manual intervention (possible sources of error), extensive valuation of treasury transactions, integration of the 360T trading platform, expansion of standard reports with special reports such as netting and payment preview as well as use of Trinity’s integrated pivot table function, due to the increased complexity of treasury to meet
„CECONOMY has found the perfect partner to successively drive the automation and digitization of its daily treasury business, using state-of-the-art media. We can definitely recommend Trinity because of its flexibility and the fluid and time-saving method of developing and implementing a really complex treasury solution that offers a high degree of user-friendliness. In addition, the administration concept provides good technical means to adapt flexibly to changing requirements in the specific treasury processes, be it new contract types or complex authorization logics. Even Treasury is not immune to constant change.“
Christian Gerritzen, Head of Group Financing, CECONOMY AG
Due to the METRO demerger, CECONOMY was under pressure to restructure their treasury landscape. They were looking for a state of the art technology treasury platform fulfilling all regulatory requirements and highest security standards. A time-efficient implementation by a flexible system partner was a prerequisite for success. For further automation and digitalisation of treasury CECONOMY needed an experienced, at the same time innovative and future‑proof development partner to solve specific treasury problems at scale and to plan further steps in automation.