Thomas Cook Selects XRT for Global Cash and Risk Management

Thomas Cook, the travel and leisure group, has selected XRT’s Globe$. Globe$ will replace a number of existing systems throughout Thomas Cook, connecting local offices to headquarters. By implementing XRT’s Globe$, Thomas Cook aims to secure corporate liquidity and improve forecasting, minimise financial risk and improve its corporate financing structure. The need for a clearer view of its cash position and improved forecasting is central to the company’s decision to implement the system. As Heiko Gerhard Ries, head of group cash management at Thomas Cook, explains: “One of the main objectives of any corporate treasury is to secure corporate liquidity, and to ensure that sufficient funds are available for all payment transactions. With operations in so many locations, it is imperative that we have a very clear view of our financial position at all times, both to ensure short-term liquidity and for longer term planning and forecasting.” Thomas Cook has headquarters in Oberursel, near Frankfurt, Germany, where its central treasury is located. In addition to its corporate treasury, it has large regional treasuries in the UK and Belgium


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