Treasury Case StudyFUTURIS

Headquartered in Australia, Futuris is an innovative and award-winning company with annual revenue of A$700 million. From world-class facilities in Australia, China, North America, Mexico and Thailand, Futuris designs, engineers and manufactures solutions for the global transportation industry. The company specializes in automotive interiors with a focus on seating and interior trim. It provides a fully integrated design and development solution from concept to production for some of the world’s leading vehicle producers including Brilliance, Chery, Faraday and Future, Ford, GM, JAC, SAIC, Tesla, and Toyota.

The New Horizon: Driving Treasury Transformation at Futuris with FIS’ Integrity SaaS Solution

MASHA WEIJERSGROUP TREASURER, FUTURIS

FIS is a true partner. They have the functional treasury

experience, as well the technical capability to manage our

Integrity SaaS solution. We have one point of contact to help us

maintain the system and manage ongoing support, providing a

degree of personalized service which has helped to strengthen

our relationship.

FUTURIS

Headquarters: Australia

Annual Revenue: A$700 million

Industry: Manufacturing

Treasury: Centralized

SOLUTION BENEFITS:

● Gained real-time cash visibility

● Automated reconciliation processes

● Automated bank connectivity

● Improved operational efficiencies

● Receives complete audit trails

● Reduced total cost of ownership (TOC)

● Accelerated implementation program

● Gained a dedicated, 24/7 support team

● Partnering with a team that has intimate system and application knowledge

● Gained a single point of contact

● Receives secure and reliable IT Infrastructure

Futuris

Managing treasury, the hard way

Futuris’ treasury operations are centralized in Australia. The treasury team utilizes multiple ERPs, has relationships with a number of global banks and has historically been challenged with highly manual processes, due to limitations in the treasury technology environment. In the past, half a day was spent, each day, on manual cash reconciliation in order to finalize the global cash position. The team was tasked with downloading bank statements from multiple bank accounts, spread across Australia, China, Korea, Hong Kong, Thailand and the U.S.

The way forward

In order to sustain continued growth and expansion, as well as to gain operational efficiencies, group treasurer, Masha Weijers, recognized the need to transform the treasury operations by automating treasury processes. Her vision was to transition from manual, high risk and labor-intensive cash management and reconciliation functions to a treasury management solution using more automated, integrated, scalable and globally available technology. Three strategic objectives were identified early in the project:

● Adapt to a rapidly growing and changing business

– Prepare key functions for global expansion and growth

– Gain balance sheet optimization

● Gain efficiencies by automating processes

– Standardize processes and strengthen controls

– Reallocate resources to focus on more strategic initiatives

● Achieve a single, consolidated view of treasury activities

– Gain visibility into cash and risk

– Increase transparency in order to make more timely decisions

Futuris was looking for a technology provider who could help it simplify treasury by consolidating data to a single, secure, and easy-to-use platform, which did not require ongoing maintenance by the IT and treasury staff. FIS’ Integrity SaaS solution met all of the company’s requirements.

FIS’ Integrity SaaS solution is a strong fit for us from both a functional and cloud deployment standpoint. The solution has truly transformed our treasury operations by centralizing our data into a single, user-friendly, secure solution which gives us global

visibility to cash. It integrates with our ERP solutions so that we can

easily feed information back to our accounting group. Overall, we have become significantly more efficient and are now able to focus our staff

on more strategic initiatives.”

MASHA WEIJERSGROUP TREASURER, FUTURIS

Futuris

Why SaaS?

Most of the financial management systems that Futuris currently utilizes are cloud-based. Futuris has found SaaS solutions to be more cost-effective for the company, as they help the team to avoid having to enter a budgeting cycle in order to upgrade or take on new functionality. In order to limit the dependence on IT resources typically required to implement, manage and continuously upgrade a solution, finding a SaaS treasury solution was ideal for the treasury team. It was also important for the solution to be accessible anywhere and at any time. Lastly, the strength of cloud security was a critical requirement.

The ideal solution

Futuris chose FIS’ Integrity SaaS solution for its functional depth, its ability to easily integrate with ERP solutions and connect to banks, as well as for its SaaS deployment capabilities. The treasury team is using Integrity to manage cash management and reconciliation activities. The solution provides a single repository of bank account information globally with fully integrated bank balance and transaction reporting functionality. The team now has a visibility into the total cash position and can more accurately forecast cash. They are also reconciling global bank transactions.

Using Integrity SaaS, the staff has automated 10,000 – 12,000 hours of annual manual labor. The treasury team now has more time in their day to focus on strategic and analytical projects. Additionally, Futuris has gained visibility over global cash positions, reduced bank transactions fees, and has significantly reduced the time it takes to reconcile bank transactions.

Integrity’s SaaS capabilities have also been a key benefit for Futuris. The solution is fully maintained and supported by FIS and is hosted in the most secure SSAE16 certified facilities. FIS provides best-in-class cloud security and a 24/7 global service desk along, with automated product updates.

Early on in the selection process, Futuris expressed a desire to form a partnership with a trusted vendor that was able to grow and adapt with the company as their business continued to evolve. FIS has proved to be that partner.

What does the future hold?

Futuris is in the process of evaluating and rationalizing its global banking relationships. An unexpected benefit to automating was gaining a greater understanding of its global banking structure, and then understanding how the team could simplify and improve that structure. As the company continues to expand organically and via acquisition, it will be easier for the team to integrate and expand the treasury operations now that everything is on a single, SaaS treasury platform.

Futuris

About FIS’ Corporate Solutions

FIS offers a leading liquidity and risk management solution for corporations, insurance companies and the public sector. The solution suite includes credit risk modeling, collections management, treasury risk analysis, cash management, payments system integration, and payments execution delivered directly to corporations or via banking partners. The solutions help consolidate data from multiple in-house systems, drive workflow and provide connectivity to a broad range of trading partners including banks, SWIFT, credit data providers, FX platforms, money markets, and market data. The technology is supported by a full range of services delivered by domain experts, including managed cloud services, treasury operations management, SWIFT administration, managed bank connectivity, bank onboarding, and vendor enrollment. For more information, visit www.fisglobal.com.

About FIS

FIS is a global leader in financial services technology, with a focus on retail and institutional banking, payments, asset and wealth management, risk and compliance, consulting and outsourcing solutions. Through the depth and breadth of our solutions portfolio, global capabilities and domain expertise, FIS serves more than 20,000 clients in over 130 countries. Headquartered in Jacksonville, Florida, FIS employs more than 55,000 people worldwide and holds leadership positions in payment processing, financial software and banking solutions. Providing software, services and outsourcing of the technology that empowers the financial world, FIS is a Fortune 500 company and is a member of Standard & Poor’s 500® Index. For more information about FIS, visit www.fisglobal.com

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