Task definition
- Introduction of a cross-company and cross-country cash pooling system to optimize and control group-wide liquidity
Industry / Function / Environment
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European market leader in the leasing of rail freight and tank cars, rail and tank container logistics
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Head of Financing & Treasury
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Björn Gresens
Situation:
- Securing customer receivables from rentals as part of group financing
- Managing the Europe-wide rental income of various group companies via an escrow account
Measures:
- Establishment of a trust account agreement with the bank
- Establishment of a cross-company cash pooling agreement, taking into account the insolvency and tax law issues in the respective jurisdictions
- Introduction of an ERP-supported clearing system for accounting purposes
- Introduction of a limit and monitoring system for intercompany loans
- Control and disposition of bank accounts via TMS system
- Successful implementation of Group financing
- Reduction of operating bank accounts in the Group
- Control of all European rental income via a central account
- Processing of all payments and management of bank accounts through a centralized payment factory
- Optimization in the management and planning of Group-wide cash flow
- European market leader in the leasing of rail freight and tank cars, rail and tank container logistics
- Customer portfolio: Railroads, rail logistics operators, chemicals and petrochemicals.
- Product portfolio: Tank and tank car rentals, intermodal wagons, bulk freight wagons, rail logistics, tank container logistics.