International expansion can bring a variety of challenges for an organisation. International chemicals manufacturer Perstorp is showing how a treasury can help the overall business succeed in these new environments by preparing both internally and for new external demands.
Perstorp is a growing business and is expanding its international operations. It has employees in 22 countries, and an increasing share of its transactions is with the Americas and Asia. This is putting greater burden on the treasury. While staff within local subsidiaries manage transactions and day-to-day accounting, group treasury is responsible for governance and oversight — which is challenging given the diversity of local financial rules and regulations. And even as the treasury’s remit is growing, the size of the team isn’t. So Persson looks for any opportunity to improve efficiency, for example by automating manual processes.
Read our case study on the Insights website and find out how Perstorp Group Treasury Manager, Marianne Persson, is coping with these new demands.