ManpowerGroup Inc. (MAN) is one of the largest and most well-respected enterprises in the staffing industry. As of 2023, they are a Fortune 500 company with ~$21 billion in annual revenue, 600,000 workers on assignment, 25,000 employees, and operations in over 75 countries.
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Although they are a global company, ManpowerGroup was originally founded in Milwaukee, Wisconsin, and this office continues to serve as their primary headquarters.
From a treasury standpoint, ManpowerGroup’s global operations are managed by a three-person team operating out of the Milwaukee office. Between them, ~$1.5 billion in daily liquidity is managed and stewarded. Although there are various financial processes managed by personnel at the local and regional level, this global team is ultimately responsible for the enterprise’s liquidity, pooling, forecasting, and bank account management functions.
But as you can imagine or may know from experience, a three-person team tasked with managing global treasury for a multibillion-dollar enterprise will almost certainly face challenges regarding bandwidth. This is especially true if the enterprise does not have a financial technology stack that is helping maximize efficiency and automation, as manual processes are all-too-often the crux of smaller treasury groups.
This is the exact situation that faced Fernando Tenuta, Assistant Treasurer for ManpowerGroup, when he rejoined the company in 2013.
Download the full success story below to learn how:
- ManpowerGroup’s treasury team adopted TIS to transform their global payments and bank connectivity operations.
- ManpowerGroup achieved substantial daily cash visibility as a result of their TIS project.
- TIS enables ManpowerGroup to flexibly accommodate changes to their banking and back-office architecture on a rolling basis moving forward.