Whitbread recognised with ION Treasury award
The award reportedly recognizes the Premier Inn owner’s ‘efforts to streamline its investment process’
ION Treasury, a global provider of treasury and risk management solutions for corporations, financial institutions, and central banks, has awarded Whitbread with Best Investing Solution – Highly Commended in the Treasury Today Adam Smith Awards 2021.
The award reportedly recognizes the Premier Inn owner’s “efforts to streamline its investment process” by deploying Goldman Sachs Asset Management’s Mosaic platform integrated with ION Treasury’s Reval solution.
It comes as Whitbread has employed a manual liquidity management process. According to ION Treasury, it has done so by using a “lean” treasury team, increased cash flow volatility due to the pandemic, and the challenge of working remotely prompted the need for change.
The ION Treasury Reval solution controls and governs Whitbread’s cash management processes whilst reportedly “providing visibility to the company’s daily liquidity”.
Stuart Fitzsimmons, Treasury manager, Whitbread plc, said: “The new platform has come into its own, particularly when we have moved significant flows to or from our money market funds providers. Being able to instruct and track trades and to receive timely and consistent confirmations greatly facilitated the funds flow.”
Richard Grossi, CEO ION Treasury, added: “ION focuses on building pioneering tools that our clients need to grow their businesses. We are proud to support the digital transformation at Whitbread and pleased with the industry recognition implicit in this award.”
