Accell Groups wins the DACT Treasury Award 2024

Accell Group has been awarded the prestigious DACT Treasury Award for its remarkable transformation of liquidity management. Announced yesterday at the Treasury Targets meeting, the company was recognized for its shift from an external notional pooling structure to a fully integrated In-House Bank (IHB) solution.

In July 2024, Accell Group embarked on a three-month transformation project that streamlined its treasury operations. The project, initiated by their Treasury Management System (TMS), integrated automated sweeping, non-cash intercompany settlements, and “payment-on-behalf-of” (POBO) functionality, with direct reporting to their existing ERP systems. This shift allowed Accell to evolve from a bank-dependent structure to a bank-agnostic liquidity management solution in record time.

Project Overview

Accell Group is a private equity-owned leader in the field of innovative and sustainable mobility solutions. Known for its high-quality bicycles, parts, and accessories, Accell’s transformation project was driven by the need to reduce its dependency on external banking partners.

Previously, Accell used several ERP systems, a payment hub (TIS), a Treasury Management System (FIS Integrity), and a foreign exchange forecasting system (Kyriba). Payments were made through a bank network, including inter-company (IC) and foreign currency transactions.

The company took a bold step to simplify its operations, setting a three-month deadline to transition to a future-proof setup. The result was a fully automated, internal treasury process that seamlessly integrated with the existing ERP infrastructure.