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Cash Pooling Past, Present and Future

Cash Pooling

HeidelbergCement has a centralised group treasury function based in Germany comprising 14 professionals across front, middle, back office and cash management. With a flat hierarchy and a direct report to the Group CFO, the department is able to be highly responsive to both the market and business changes, and take a pragmatic, hands-on approach to problem-solving.

In this article, David Flory, Head of Group Cash Management, discusses cash management at HeidelbergCement, in particular the role of cash pooling in achieving the group's cash and treasury management objectives.

Key Points

  • Cash management at HeidelbergCement is extremely complex, with over 210 banking partners and 1,700 bank accounts in 48 countries
  • The firm began using cash pools in the early 1990s, and group treasury was centralised in 2005 after a major review
  • Further organisational changes, mergers, acquisitions and divestments emphasised the need for a dynamic approach to cash management including cash pooling
  • The author outlines the complex nature of HeidelbergCement’s current cash pooling, which includes zero-balancing in key markets, and continues to be a major component of treasury strategy

 

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Written by:

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David Flory

HeidelbergCement

Head of Group Cash Management

This article is available as part of an extensive case studies collection: Cash & Liquidity Management Series

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