Rebuilding treasury accounting foundations for a global transformation

Treasury accounting sat in a legacy sub-ledger, at odds with the rest of the business on a single SAP general ledger. It had to be fixed before a new TMS could be selected.

• A treasury chart of accounts of more than 500 accounts needing rationalisation
• TMS posting functionality on a release due to go out of support
• Mismatched decimal setup of accounting rates between SAP and treasury systems
• Manual market data distribution with unclear ownership across SAP instances

SkySparc overhauled treasury accounting to simplify the later deployment of a new TMS.

• IT2 Nominal Ledger implemented to replace the SUN sub-ledger
• An automated interface between IT2 and the SAP ECC general ledger using SAP Process Orchestration
• Treasury entities, balances and movements migrated to SAP ECC
• SAP Market Data Management in two SAP instances, with daily rates from Refinitiv
• Accounting rate decimal setup harmonised across systems

A faster treasury month-end close, and the foundations for a future intercompany cashless clearing model.

• More than 400 GL accounts eliminated across the treasury chart of accounts
• New sub-ledger delivered and group accounting rates aligned to a daily rate in eight months
• 23 treasury entities migrated from the SUN sub-ledger to the main SAP Financials GL
• Offline valuation and readjustment calculations removed
• Manual journal aggregation in the group consolidation platform no longer needed

"I would like to acknowledge all of the great work done by everyone, where significant progress has been made in a short period of time." Group Treasurer