Citi has been appointed by Russia’s Gazprom Marketing and Trading (GM&T), the global integrated energy solutions provider, to implement a global cash management programme centralised in London.
The programme is underpinned by a technology solution encompassing SAP, SWIFT and XML and provides a range of features including liquidity management services, straight-through processing (STP) of high value and time critical payments supported by an intraday credit solution, vendor payments and payroll services.
The solution allows GM&T to streamline key treasury processes and centralise flows into its London-based global finance centre, thereby gaining greater visibility through more sophisticated cash and liquidity provision forecasting. The programme also provides a robust payment mechanism with secure authorisation structures to allow the processing of all payments and collections with full control and visibility at any time and from any location, via a flexible intraday credit limit feature.
“The new global cash and liquidity solution enables us to rationalise our processes as part of the creation of a global treasury organisation,” said Michal Kawski, GM&T’s head of treasury. “We are confident in Citi’s ability to deliver and execute a best in class global programme that supports the world class treasury organisation we’ve created in just three years.”
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