Swarovski is a global luxury brand operating in more than 170 countries, employs 18,000 people, and generating EUR 1.9 billion in annual revenue. Managing treasury operations at this scale is no small feat. With thousands of accounts and entities worldwide, Swarovski faced significant challenges in achieving transparency, efficiency, and control over its global cash and payments landscape.
Polishing the Process: Why Change Was Needed
Behind Swarovski’s brilliance was a complex financial structure. The treasury team managed over 800 bank accounts, more than 100 online banking tools, and 300 signatories across 100+ entities. This fragmented setup created inefficiencies, compliance risks, and delays—sometimes taking weeks to detect failed transactions. Manual processes slowed reconciliation and made strategic decision-making difficult.
Swarovski set out to transform its treasury operations by consolidating global payments and cash management into a single, cloud-based platform. The goals were clear:
- Achieve full cash visibility across all entities
- Standardize processes and reduce manual effort
- Strengthen compliance and security
- Enable rapid onboarding for quick time-to-value
Brilliance Achieved: Swarovski’s New Treasury Standard
TIS delivered a cloud-native multibank connectivity platform that integrated seamlessly with SAP and supported global treasury operations. By leveraging TIS’s established bank connections and expertise, Swarovski accelerated implementation and created a centralized hub for payments, statements, and reporting. Key outcomes:
- 35 entities onboarded within one year
- 300+ bank accounts closed
- Full cash visibility across 100+ entities
- Significant time savings on reconciliation
- Improved vendor relationships and faster payment resolution
Today, Swarovski’s treasury team operates with confidence and clarity. The TIS Cash Management dashboard has become the single source of truth for treasury, enabling real-time insights and streamlined workflows.
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