Digital Transformation and Technology Implementation
Goodyear has accelerated treasury’s increasing adoption of robotics further by bringing a new level of automation to its European cash management. The tire giant’s innovative solution – a more efficient alternative to a cross-currency notional cash pool since it doesn’t require consolidating all accounts into a single location – triggers overnight swaps on all of its balances.
Having already established master accounts to concentrate end-of-day cash in each of its EMEA currencies, Goodyear’s refinement automates overnight FX conversion into Euros. This enables it to maximise liquidity and minimise debt across the region, while lowering operational risk and freeing up treasury capacity.