Garofalo Health Care

Garofalo Health Care’s Centralised Treasury and Cash Pooling Project

The implementation of Garofalo Health Care’s Cash Pooling project had to fulfil precise requirements:

Functional coverage: the Treasury platform had to guarantee management of Collection and Payment processes and support the Cash Pooling structure.

Integration: the treasury solution had to provide deep integration with the ERP.

Security: a fundamental requirement, the project had to guarantee inviolability and the absence of manual intervention on files.

Real time information: the Holding Company required real time access to the Group’s liquidity information.

Scalability: the Group Treasury suite had to guarantee both vertical scalability – following the Buy and Build strategy of roll out to new Group companies – and horizontal scalability, ensuring the availability of new functions, best practices and features easy to implement.

Investment: the treasury solution had to respect a limited dedicated budget.

Fast roll outs: a priority requirement together with security, the execution of fast roll outs of the Treasury project in all Group companies was crucial to the implementation of the Cash Pooling.

Cloud: cloud technology is the backbone of Garofalo Health Care’s IT strategy and the technological prerequisite to which the Treasury platform also had to respond. Cloud to achieve speed of project deployment, zero time needed for infrastructure set up and the possibility for key users to act in smart working.

Garofalo Health Care has achieved important results that now represent added value for the entire Group and qualify GHC in the areas of process automation, security, and best practice in the Finance area.

Speed: this project was extremely fast. In less than five months, 19 companies were rolled out.

Reduced external costs: the choice of a cloud architecture allowed the optimisation of internal investments and skills, enabling the internalisation of many setup activities.

Focus: The project enabled the definition and dissemination of Treasury standards within the Group, a greater focus of users on core activities and the achievement of new skills within the Treasury division.

Reporting: one of the most appreciated results of using Piteco Evolution is the usability and availability of data in real time, for the entire Group perimeter (liquidity, bank fees, credit line deployment). Immediate access to information and appropriate and comprehensive reporting represents an added value for management and a valuable support in decision-making processes.

Cash Pooling: the treasury project led to the realisation and completion of the Group Cash Pooling and the implementation of the required In-House Banking project.