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Kyriba Live !John Colleemallay
Senior Director, Group Treasury & Financing
Dassault Systèmes
London – June 21st, 2017
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2015 Dassault Systèmes – Company overview
Treasury Projects at DS
Agenda
Implementation Obstacles
Benefits
Kyriba Deployment overtime at DS
What’s Next
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Our Company
a ScientificcompanyCombining Science,
Technology and Art for a
sustainable society
14,000passionate people• 123 nationalities / 172 sites
• One global R&D / 56 labs
• Game changing 3DEXPERIENCE
solutions
>200,000 enterprise customers• 12 industries in 140 countries• 25 million users
12,600partners• Software, Technology &
Architecture
• Content & Online Services
• Sales
• Consulting & System
Integrators
• Education
• Research
Long-termdriven• Majority shareholder control
• Revenue: $3.2 Bn*
• Operating margin: 30.8%*
* Figures as of FY 2015 / Non-IFRS
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AMERICASHeadquartersBoston
WW & EMEAR HeadquartersParis
R&D labs (56)
3DS Offices (172)
ASIA PACIFICHeadquartersShanghai
Our Presence
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2015 Dassault Systèmes – Company overview
Treasury Projects at DS
Agenda
Implementation Obstacles
Benefits
Kyriba Deployment overtime at DS
What’s Next
6
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Treasury at Dassault SystèmesManaged via cloud based TMS to serve the rapid growth of the company
Banks Harmonisation and Cash Centralisation
• Rationalise the number of banks worldwide
• Make sure our cash was centralised and readily available per geo zone
Build a Worldwide Cash Pooling
• Avoid FX risks
• Optimise Cash Investments centrally (HQ)
Harmonize our Systems and Processes
• Security reinforcement with one Treasury Management System worldwide, interfaced with one ERP
• Corporate Simplification
• Payment Factory with SwiftNet implementation
• XML development and SEPA implementation
• Full deployment of 3SKey
Phase
1:
Phase
2:
Phase
3:
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Bank harmonisation: From 83 to 4 main banks*
1 Main
Bank
2 main
Banks
1 Main
Bank
* Covering 99% of flows + ~10 local banks for local regulation purposes
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BanksFrom
18 to 1
From
36 to 2 From 29
to 1
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Treasury at Dassault SystèmesManaged via cloud based TMS to serve the rapid growth of the company
Banks Harmonisation and Cash Centralisation
• Rationalise the number of banks worldwide
• Make sure our cash was centralised and readily available per geo zone
Build a Worldwide Cash Pooling
• Avoid FX risks
• Optimise Cash Investments centrally (HQ)
Harmonize our Systems and Processes
• Security reinforcement with one Treasury Management System worldwide, interfaced with one ERP
• Corporate Simplification
• Payment Factory with SwiftNet implementation
• XML development and SEPA implementation
• Full deployment of 3SKey
Phase
1:
Phase
2:
Phase
3:
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Worldwide Cash & Risk Optmization
USD Pool EMEA Pool JPY Pool
Overlay Multi-currency pool
with no FX risk
- All Cash centralised and Invested by HQ in Euros & USD (97%)
- Fully monitored by single TMS – cloud based
- No FX Risk
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Treasury at Dassault SystèmesManaged via cloud based TMS to serve the rapid growth of the company
Banks Harmonisation and Cash Centralisation
• Rationalise the number of banks worldwide
• Make sure our cash was centralised and readily available per geo zone
Build a Worldwide Cash Pooling
• Avoid FX risks
• Optimise Cash Investments centrally (HQ)
Harmonize our Systems and Processes
• Security reinforcement with one Treasury Management System worldwide, interfaced with one ERP
• Corporate Simplification
• Payment Factory with SwiftNet implementation
• XML development and SEPA implementation
• Full deployment of 3SKey
Phase
1:
Phase
2:
Phase
3:
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- Zoom in STP
Accounts Receivable
DSx.
DSx.Accounts Payable
DSx.Cash pooling
DSx.Current account
DSx.Treasury
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Payments Flows harmonization process
Security reinforcement and corporate simplification
HQ TreasuryOne format
XML ISO 20022
One process
SWIFTNet/3SKey
10 beneficiary
banks centralised
12,500 payment flows
transiting by HQ
Treasury & going to 10
EU countries
20 DS entities in
Europe
50 bank accounts in
Europe
Local banking formats
replaced & E-banking sites
reduced from 5 to 1 TMS
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Payment factory paybackSome quick wins/advantages
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2015 Dassault Systèmes – Company overview
Treasury Projects at DS
Agenda
Implementation Obstacles
Benefits
Kyriba Deployment overtime at DS
What’s Next
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What obstacles during implementation
Work hand in hand with internal teams (SSC Finance, IT) to interface with existing ERP systems
Define once and for all rules within the system that will be coherent over time (e.g. Cash Application tool / XML & MT 940 formats)
Convince bank partners that our SaaS solution will be the only way to communicate with them
Abandon bank portals
Better security and control for us
Coordination between all parties, making sure all aligned within same time frame (importance of dedicated project team internally)
Security concerns
Data Protection
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If any….
How to overcome issues
Dedicated project team (within Treasury)
To be able to liaise with all banks and internal teams
To harmonise and understand rules more efficiently
Involvement of local teams (give access to TMS) for full commitment on project
Harmonisation of bank communication tool within the Group
Security on bank flows (reduce bank platforms & tokens/passwords)
Reduce costs & time on implementation
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2015 Dassault Systèmes – Company overview
Treasury Projects at DS
Agenda
Implementation Obstacles
Benefits
Kyriba Deployment overtime at DS
What’s Next
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In comparison to alternatives
Benefits of a SaaS Solution
Offers latest Innovation with better Security
Lower Cost than ASP (Application Service Provider) or on-Premise solutions
Support cost are optimized / no internal IT teams needed
Security is highly monitored for SaaS data as providers invest heavily in network security, encryption, access rights
A non SaaS solution would entail more cost because of individual configuration security needs
Performance higher
Disaster Recovery : Service Level Agreement (SLA) provides for committed uptime
Back up servers frequently tested
Full integration and interfacing with other Web applications
Ph
oto
Cre
dit
:w
aveb
reak
med
ia/S
hutte
rsto
ck
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What do these achievements bring to DS?
CASH is a core asset for DS:
Fully Centralised (95%+) and Secured
Optimised Investments
DS Treasury team has chosen new technologies to accompany its needs and
communicate with banks (Cloud based TMS, 3SKey, SwiftNet)
Harmonised processes and systems allow for greater visibility and access
These achievements have allowed DS Group Treasury to accompany the external growth of the Group (more than $1 Bn over the last 5
years) in a COHERENT, FAST and SECURE manner.
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2015 Dassault Systèmes – Company overview
Treasury Projects at DS
Agenda
Implementation Obstacles
Benefits
Kyriba Deployment overtime at DS
What’s Next
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Our Treasury Management Software(TMS) deployed WW
ASIA & EUROPE
XML/3SKey with MUFG
Bank mandates harmonization
Payments approval workflow
2015
AMERICAS
Cash pooling & interco booking
XML/3SKey with BofA
Automatic Cash application
GLreconciliation
2014
EUROPE & AMERICAS
Diamond merge into Ruby
Bank & Cash activities merge
2013
EUROPE
Cash pooling & interco booking
XML/3SKey Payment factory
Automatic cash application
GLreconciliation
2012
EUROPE
SwiftNet & MT940 migration
XML signed with 3SKey
French & European banks deployment
2011
EUROPE
Cash pooling & In-house banking
XML sent through Etebac5
2010
FRANCE
Bank & cash management at HQ
2007
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2015 Dassault Systèmes – Company overview
Treasury Projects at DS
Agenda
Implementation Obstacles
Benefits
Kyriba Deployment overtime at DS
What’s Next
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Cash management & GL reconciliation
Automatic cash application
XML/3SKey with BNP Australia
Electronic checks with BofA
Bank fees analysis
Multi-currency FX payments
For All !
Objectives / Main TakeAway:
• Replace One-Line Bank Platforms WW with Kyriba only
• Central/GEO administration and more security on flows
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Headaches for Treasurers
Risks & Frauds : Cyberattacks
New types of risks
Payments Flows Customer – Bank : Swift
Systems risks : Kyriba / Online portals access
Master Data Control: IBAN risks
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Virtual Bank Accounts
Take Away :
• Drastic reduction in number of accounts maintained
• Access to account receivables information and liquidity on real time basis.
• Reduction of Fees
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Impressive Implications on Costs, Structures and Systems
Virtual Accounts
Channelling of payments and/or collections through a single account
• Making Payments on Behalf of : POBO
• Collecting Payments on Behalf of : COBO
Rationalization of accounts, simplification of cash management structures
• Strong reduction in fees
• Can be operated using a single currency account (multi-currency payment files)
Other advantages
• Comprehensive view on global cash
• Reduce / betting mapping of exposure
• Simplification of Cash Pooling processes, since only one account !
• Easier, faster to open accounts (on-line) for entities, departments, etc…
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Supply Chain Financing via our Kyriba Platform
Supply Chain Finance
Dynamic Discounting
Make early payments to DS suppliers
with your excess cash
Reverse FactoringAllow DS suppliers to obtain early
payments thanks to DS Financial
Partners, while improving DS working
capital
Invoice TradingGive DS suppliers access to an
independent marketplace where they
can trade their receivables with
different types of funders
With DS excess cash With external funding
Facilitate access to financial
possibilities for DS New
partners
Allows DS to generate for
example a 3% return on its
excess cash (discount)
whilst market rate = 0%
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