DUFRY Management Ltd is a, global “traveller retailer” with shops in airports, seaports & railway stations in more than 60 countries. In 2006, the requirements with respect to risk & liquidity management changed fundamentally. DUFRY, with 150 subsidiaries realized that excel was no longer a reliable tool and decided to search for a modern treasury management system that was customizable but nevertheless easy to implement and use around the world. After an extensive market evaluation in 2007, DUFRY selected the TRINITY TMS and is using it in the following areas:
Transaction Management: All treasury relevant deals, derivatives, limits and guarantees are managed in the TRINITY TMS.
Cash Management: The collection, import and reconciliation of bank statements of 1.000 bank accounts held in more than 60 countries via Swiftnet to create a daily cash report.
Treasury reporting: Trinity offers a wide range of standard reports, but with the help of an integrated report builder is was easy to customize the reports to local needs. This includes all necessary hedge accounting reports.
Cash Flow forecasting: Around the world, local controllers enter their forecast for the next 3 months in different currencies; at group level, the data is consolidated and can be viewed, analyzed and compared with budget or previous forecasts.
Risk Management: FX and interest rate position are visible, will be hedged according to the internal guidelines. The results are valuated.
Interfaces: All interfaces have been realized in a time effective manner with market data providers (e.g. Bloomberg), the ERP system (e.g. Navision), a trading platform (e.g. 360 T) ….
Yves Gerster (CFO of DUFRY) comments on the collaboration/cooperation with TRINITY:
“We have been successfully collaborating with TRINITY for many years. Especially the direct link to the managing directors and developers of TRINITY should be pointed out. For us that means, all wishes and demands of our daily treasury process were not only noted but also promptly implemented into the existing software version.”