When initiating a project, statistics show that most projects are not delivered within time and budget. The origin of this problem is often caused by ‘asymmetric information’. This is the different level of knowledge and experience between vendor and buyer of the software and its implementation.
Buyers often seek different ways to cope with this problem (RfP’s / consultants) but for a wide variety of reasons, often don’t succeed. Since a treasury project can make (or break) your career, Marijn Feddes, Group Treasurer of Fugro NV, is open to share his view on this matter. He will share his experiences of his journey by discussing several pitfalls that are often overlooked by the buyer and provide insights in the benefits of the approach taken. The last 5 minutes of the session is reserved for a Q&A.
Fugro NV, provides site characterization solutions to facilitate the safe, sustainable and cost-effective design and construction of buildings, industrial facilities and infrastructure.
Fugro, with a staff of 9.000 is present in 59 countries, generates EUR 1.5 BLN (2021) revenues.
Being active in overseas countries, means many subsidiaries with different ERP systems, (local) bank relationships and bank accounts in different currencies. A large portfolio of both in- and external loans and not to forget a large amount of bank guarantees.
One of the key challenges for Marijn Feddes, is to build a reliable, rolling multi-currency cash flow forecast that will form the basis of Fugro’s hedging policy. As far as possible, this process will be automated by importing data from different ERP systems. To achieve this goal, the need of proper technology is essential. Rather unconventional, Marijn and provider Trinity Management Systems, agreed upon a Proof of Concept.
Speakers: Marijn Feddes, Group Treasurer – Fugro NV & Philip Wielenga, director sales – Trinity Management Systems