Consolidating two treasuries onto FIS Quantum after a biotech acquisition
A consolidated treasury operation delivered in under eight months
A long-standing FTSE pharmaceutical client, a pioneer in vaccines, needed to bring a newly acquired biotech group's treasury into its own operation in 2023 and 2024.
One FIS Quantum platform after an acquisition, with measurable returns on cash
$11m
Annual interest benefit through better cash returns
$500m+
Cash on deposit with treasury through enhanced pooling
100+ hours
Saved each month by the intercompany team using FIS ERP Connector
The challenge
The acquired business ran its own TMS, banks and processes. The two treasuries had to be merged into one operating model on FIS Quantum, with global cash visibility and a simpler funding structure.
- Process, procedures and controls largely undocumented and not standardised across the UK and US
- Manual SAP journalling through Blackline for deals, intercompany, bank clearing and cash reconciliation
- Acquired business units outside the monthly netting cycle run from the UK netting centre
- A mix of off-system intercompany lending and on-system FX dealing through Kyriba
- US operations reliant on the UK for funding, with manual processes and no true global cash visibility
- Disparate cash pools and banking partners needing restructuring for simpler sweeping and daily funding
The solution
After preparatory integration work, SkySparc developed, designed and ran the treasury programme: operating model consolidation, process harmonisation, optimised cash sweeping, and a digital-first move onto FIS Quantum integrated with SAP.
- Programme covering the Kyriba to FIS Quantum migration, operating model integration, SAP workflow modernisation and documentation
- Detailed requirements analysis and fit-gap against the existing FIS Quantum setup, identifying change impacts and regression risks
- Turnkey configuration and fully managed testing of FIS Quantum using a library of test content
- FIS ERP Connector Journal module for real-time API journalling between FIS Quantum and SAP ECC
- Acquired entities brought into the monthly physical netting cycle
- A searchable SharePoint wiki of procedures for FIS Quantum across both treasuries
The result
The combined treasury now runs as one operation, delivered in under eight months.
- $11m annual interest benefit through better cash returns
- More than $500m cash on deposit with treasury through enhanced pooling
- More than 100 hours a month saved by the intercompany team using FIS ERP Connector
- $300k+ in recurring licensing savings from decommissioning legacy and duplicate platforms
- Manual interventions and Blackline removed from intercompany accounting through fully automated SAP workflow
- A single control and governance framework across all regions, entities and processes
"Together with the business, the SkySparc Team were instrumental in transforming challenges into triumphs through our collective efforts and passion. To every team member who contributed their expertise and commitment, thank you for making this achievement possible." Treasury Manager, FTSE pharmaceutical company