How TomTom Improved their Cash Forecasting, Monitoring, & Reporting Workflows with TIS.
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TomTom is a world-leading mapmaking technology, providing location technology for drivers, carmakers, enterprises and developers globally. Founded in 1991 and headquartered in Amsterdam, TomTom released their first generation of satellite navigation devices to the market in 2004. TomTom’s decades of insights go into everything they do – maps, digital cockpit solutions, navigation software, routing and ETAs, APIs and traffic data for all.
Over the past few years, TomTom’s treasury team began to experience two core challenges related to their cash forecasting and working capital operations:
- A need for more automated reporting workflows that enabled management to gather insightful financial information that would help improve their decision making and strategic analysis capabilities.
- A need to improve the process of aggregating and analyzing disparate data scattered across their 125 bank accounts and 56 different entities around the world.
As TomTom’s existing processes were very manual and time consuming, their treasury team sought a solution in the market which could meet their requirements. After a rigid selection process, TIS CashOptix came out on top, due to its ability to provide solutions for each of TomTom’s main focal points.
Learn more about the various ways that TIS’ solution transformed TomTom’s cash forecasting and monitoring capabilities by downloading the below success story!