Against the Clock: Creating the Treasury Organisations of the Future
Post-merger strategySince 2013 Johnson Controls International have gone through a radical transformation. Here they explain how they successfully transformed their treasury function, focusing particularly on the implications for treasury technology.
- Johnson Controls International decided in 2015 to spin-off its automotive business into a new corporation, Adient, and shortly after that JCI announced its merger with Tyco which would take place in 2016
- These changes had enormous impact on treasury, with particular implications for technology; all the preparations for a fully functioning treasury department for Adient had to be completed in under a year
- The corporation worked closely with FIS (formerly SunGard) which already provided its TMS system Quantum and payment factory system Trax. Existing Quantum and Trax applications were cloned, and the FIS-hosted infrastructure migrated to the UK
- Quantum was updated and replicated for Adient, and Trax was connected to SWIFT in 35 countries
- The authors describe the factors which contributed to the success of the complex project and note some of the obstacles which had to be overcome during implementation
Included in: Strategic Treasury Series
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