CHICAGO, Nov. 13, 2023 (GLOBE NEWSWIRE) -- GTreasury, a treasury, payments, and risk management software provider, today announced Christian Louboutin is a 2023 Alexander Hamilton Award winner in the Working Capital & Payments category. The annual awards, presented by Treasury & Risk and now in their 27th year, recognize companies taking leaps forward in treasury, finance, and risk management through process innovation and technology implementation. The award highlighted Christian Louboutin’s strategic deployment of GTreasury Netting as part of its successful intercompany netting modernization initiative.
Christian Louboutin’s treasury leaders had sought a way to more accurately manage the impact of the brand’s many intercompany payments between subsidiaries without onerous manual processes. With each transfer, the sending entity would invoice the receiving entity and then wait to be paid. There were no standardized processes or procedures to resolve or escalate disputes between the two parties. There was no visibility into the exact number and scale of all the transfers taking place each month.
To address these challenges, the Christian Louboutin treasury team chose to implement GTreasury’s multilateral and multicurrency netting solution (previously known as Coprocess Netting) to centrally manage its intercompany transfers within the treasury department at its headquarters. The ability to implement an API interface with the company’s ERP system was a strong factor in the decision. The accounting teams at each entity now enter intercompany invoices into the company’s ERP system, and the data is automatically uploaded into GTreasury Netting with an API for reconciliation and settlement.
“By implementing GTreasury’s netting automation solution powered by API technology, we gained crucial visibility and control of our intercompany transfers,” said Emeline Marchand, Netting & Credit Manager, Christian Louboutin. “Doing so has dramatically improved the communication, structure, and discipline surrounding transactions between our subsidiaries, and has resulted in meaningful cost savings and transformative efficiency gains.”
“We have appreciated the support of the GTreasury team at every step of the project,” added Annabella Lopes, Senior Treasury Manager, Credit Risk & Netting, Christian Louboutin. “Through collaboration, we all aligned on the potential benefits and worked well together to make this project a huge success.”
“We congratulate Christian Louboutin for its Alexander Hamilton Award,” said Daniel Cugni, Managing Director, GTreasury Netting (formerly Coprocess). “The smart team at Christian Louboutin is a perfect example of how the right strategy and the right technology can quickly make large-scale and lasting improvements to legacy treasury and payments processes. We are proud of the success Christian Louboutin has achieved, and look forward to continuing to work together closely.”
About GTreasury
GTreasury believes there is opportunity in complexity. We connect treasury and finance teams with industry-leading experts, technology solutions and untapped possibility. By simplifying complexity, teams can unleash their organization’s potential to gain strategic advantages and grow. GTreasury helps organizations reach that potential by connecting treasury and digital finance operations through a world-class SaaS treasury and risk management platform and integrated ecosystem where cash, debt, investments, and exposures are seamlessly managed within the office of the CFO. GTreasury delivers intelligent insights, while connecting financial value chains and extending workflows to third-party systems, exchanges, portals, and services. Headquartered in Chicago, with locations serving EMEA (London) and APAC (Sydney, Singapore, and Manila), GTreasury’s global community includes more than 800 customers and 30+ industries reaching 160+ countries worldwide. To learn more, visit GTreasury.com.
