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Roche: helping transform cross-border payments for treasury

Feature-image

In picture from left to right : Brice Goemans, Product Owner, Coporates, Swift | Valon Aliu, Treasury IT Product Manager, F. Hoffmann-La Roche AG | Nikolett Ivan, Cash Manager, Roche | Zampeta Fameli, Senior Cash Manager, Roche | Stefan Windisch, Global Head InHouse Bank, Roche Finanz AG | Antoine Guillame, Product Manager, Swift | Sebastian Rojas, Head of Payment Products Wholesale, Swift | Wim Raymaekers, Global Head of Corporate Strategy, Swift

In today’s global business environment, effective management of cross-border payments is crucial. Roche, a global leader in healthcare and pharmaceuticals, providing innovative solutions to improve patient care and health outcomes worldwide, has transformed its treasury operations with the further integration of Swift’s Global Payments Innovation (GPI) G4C offering via a unified API connection directly to Swift. This strategic overhaul addresses longstanding challenges and sets a new benchmark for efficiency and transparency in the industry. Roche has been Specially commended for its industry-wide digital transformation, highlighting its commitment to innovation and leadership in enhancing global payment processes.

Overcoming legacy system challenges

Roche’s payment system faced several hurdles that impeded efficient cross-border transactions. The complexities included fragmented information sources, limited transparency, operational inefficiencies, and hidden costs. As Stefan Windisch, global head of inhouse bank at Roche, explained, “Our payment environment was a patchwork of different formats and data sources with strong dependencies on our banks and their capabilities. This fragmentation made it difficult to track payments accurately or structurally analyse them, and led to delays and hidden costs, we were not even aware of. We needed a solution that could provide a structured and complete set of data, which leads to a consistent view of our payments.”

The lack of visibility into payment journeys and intermediary bank actions was a significant issue. “We often faced unexpected costs due to opaque fee structures and hidden margins. It was challenging to manage payments effectively when we couldn’t see the full picture,” Windisch noted.

Operational inefficiencies were another concern. “Manual reconciliation and data interpretation delayed our response times. This inefficiency affected our ability to address vendor inquiries and manage payments promptly,” Windisch added. Additionally, hidden margins and lengthy claim procedures further complicated the process, leading to inflated procurement costs and delays in resolving payment issues.

The solution: unified API, analytics and GPI(G4C) data

One of the key aspects of Roche’s approach was the implementation of a bank-agnostic API connection directly to Swift’s payment tracker. “This integration allowed us to unify our payment processes across different banks and formats. It was a game-changer in terms of streamlining operations and improving data consistency,” Windisch remarked. It’s not just about tracking payments anymore; it’s about leveraging detailed analytics to make informed decisions fact based.”

“Adopting Swift’s GPI, leveraging Swift’s corporate strategy and integrating it through a standardised API has transformed our payment processes,” Windisch explained. “We now have a clear and real-time view of our payment flows, which has been a game-changer for us.” Windisch explained. “We could move beyond basic tracking to advanced analytics and data-driven decision-making. This shift was crucial for enhancing transparency and reducing costs.”

GPI aims to enhance the transparency and tracking of cross-border payments. By integrating this through a unified API, Roche Treasury has moved beyond traditional payment tracking to a more sophisticated approach involving real-time data and detailed analytics.

Setting a new industry standard

“Our approach and Swift’s corporate strategy offering is becoming a new industry standard,” Windisch noted. “The bank-agnostic, API-based connection we’ve established provides consistent, high-quality data for all cross border payments. This level of transparency is a significant competitive advantage.”

The benefits of Roche’s strategic change extend beyond the company itself. By adopting this technology, Roche has demonstrated how organisations can achieve unprecedented transparency and efficiency. “Corporates consuming data from a central hub in combination with analytics will benefit from an increased visibility and cost savings. Facts which weren’t accessible before are a powerful tool for negotiating better terms with banks and fostering a more competitive banking environment,” Windisch explained.

Real-world impact and future prospects

The impact of Roche’s initiative has been substantial. Windisch shared a specific example: “We faced the complexity of supplier trying to understand which invoices Roche has paid. Due to conversion, deductions and cut references, even our shared service centre did not immediately identify the payment and underlying invoices. Having full visibility up to the amount and currency credited, our SSC self-services now and supports the vendor instantly.

The cost savings and efficiency gains are also notable. “We’ve discovered and eliminated hidden costs associated with currency conversions and intermediary fees. This has resulted in avoiding significant value losses of our payments in the end to end view.” Windisch highlighted.

Looking ahead, Roche Treasury’s adoption of the GPI G4C integration will support the company for continued growth and innovation. “We’ve established a scalable framework that demonstrates the power of data and analytics. The bank agnostic data access we incorporated for tracking payments is just one example of many others to come. I’m looking forward to seeing other solutions of stakeholders in the payment space, thinking of corporates, bank etc., which will increase the efficiency overall.” Windisch concluded. “This strategic change has set a new standard for corporate treasuries and demonstrates how technology can drive significant business improvements.”

Conclusion

Roche Treasury’s pioneering implementation represents a significant advancement in corporate treasury management. By overcoming legacy system challenges and embracing a bank-agnostic, API-based approach, Roche has set a new benchmark for transparency, efficiency, and cost-effectiveness. As Windisch’s insights reveal, this strategic change not only addresses internal issues but also offers valuable lessons and a roadmap for other organisations. Roche’s commitment to innovation and leadership in treasury management is evident in its transformative use of technology, making it a deserving recipient of the EuroFinance Treasury Excellence Award for Specially commended for industry-wide digital transformation