Elevion Group secures second place in the EACT Award 2024 for innovative multi-currency cash pooling
The Elevion Group is proud to have won second place in the prestigious European Treasury Project of the Year (EACT Award 2024). This recognition highlights the Elevion Group's achievement in successfully implementing an international multi-currency cash pooling system for more than 30 companies in 8 countries. The project also included the introduction of an innovative automated tool for the calculation and documentation of transfer prices.
In co-operation with Citibank, the Elevion Group introduced a cash pooling system for its companies in several countries. Cash pooling is a strategic financial mechanism that consolidates the balances of different corporate accounts at a single bank.
The introduction of this cash pooling system has enabled the Elevion Group to manage its financial resources more efficiently. As a result, the Elevion Group has been able to significantly reduce its interest costs, which has improved its overall financial efficiency.
Jiří Pecka, Group CFO of the Elevion Group, emphasised the importance of this achievement. He explained: ‘The successful implementation of our cash pooling system in cooperation with Citibank in more than 30 companies and 8 countries has contributed significantly to the optimisation of our financial operations. This project has enabled us to centralise and streamline our cash management, resulting in significant cost savings and operational efficiencies.’
The Elevion Group's recognition at the EACT Award 2024 underlines its commitment to financial innovation and efficiency. Elevion Group continues to seek advanced solutions to improve its treasury operations to ensure sustainable growth and competitiveness in the international market.