Task definition
- Introduction of a cross-company and cross-country cash pooling system for optimizing and controlling group-wide liquidity.
Industry / Function / Environment/ Expert
- European market leader in the rental of railroad freight and tank cars, rail and tank container logistics
- Head of Financing & Treasury
- Björn Gresens
Situation
- Ensuring customer receivables from leasing within the framework of group financing
- Control of Europe-wide rental income from various group companies via a trust account
Measures
- Setting up a trust account agreement with the bank
- Setting up a cross-company cash pooling agreement with examination and consideration of insolvency and tax law issues in the respective jurisdictions
- Introduction of an ERP-supported clearing system for booking
- Introduction of a limits and monitoring system for intercompany lending
- Control and disposition of bank accounts via TMS system
- Successful implementation of corporate financing
- Reduction of operational bank accounts within 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 control and planning of the group-wide cash flow
- Customer portfolio: Railroads, rail logistics, chemistry, and petrochemistry
- Product portfolio: Rental of tank and boiler cars, intermodal cars, bulk cars, rail logistics, tank container logistics