Integrated Treasury Solution in the cloudDACT, 8th November 2013

Arnold Voet Robert Jan WekkingDirector Treasury Managing PartnerVan Gansewinkel Enigma Consulting

Contents

About Enigma Consulting

About Van Gansewinkel

Vision & Objectives

Solution & Lessons learned

Benefits achieved & Next Steps

About Enigma Consulting

Consultancy firm, 100% independent, Founded in 1997

Specialized in Payments, Treasury and Risk

60 highly qualified professionals

Combines Advisory and Implementation, with focus on end-to-end financial processes

Matchmaker between solution providers and clients

Authorized BELLIN tm5 Partner in the Netherlands

About Van Gansewinkel

CLOSE TO

2 MILLIONHOUSEHOLDS

MORE THAN

120,000B2B CUSTOMERS

Key facts & figuresAbout Van Gansewinkel

1,865VEHICLES

MARKET LEADER IN THE BENELUX

€1,0BILLIONREVENUE

5,350EMPLOYEES

(EXCL. TEMPS)

3.14MILLION TONS OF CO2

PREVENTED IN THE CHAIN

€146MILLION EBITDAE

8.2CUSTOMER

SATISFACTION RATING 2012

VGG Treasury 2013 Highlights

€1,5 bln refinancing of the Group at 6x EBITDA leverage

Sale of AVR incineration business to CKI (>€900 mln)

€50 mln Off Balance KBC receivables factoring program

Reduction Cash Management banks from 4 to 2

Implementation of a Group wide Credit Insurance

Implementation of BELLIN tm5

SEPA & Swift Payment Hub (in progress)

Vision & Objectives

How it all comes together

9

TMS

SEPA

Cash ManagementFactoring

Red

uces

Impl

emen

tatio

n lo

ad

Defines Collection Bank Drives implementation platform / pooling

Liquidity

Credit InsuranceP

rovi

des

liqui

dity

Prerequisite for Factoirng

VGG Objectives

Treasury Management Payment HUB

Control Moving away from spreadsheets

Immediate access to Treasury related data of

65 entities in 40 ERP applications

Reduce FTE by straight through processing

Reduce errors & risks

Deal Capturing Term Loans, IRS, Commodities

Guarantees, Lease contracts

Mark to Market valuation Interest rate swaps

Hedge accounting support

Availability of Cash All accounts of the Group to be included in the

central ZB pool

Visibility on Cash Improved Cash Forecasting based on accurate

Data

Independent Bank connectivity Reducing lock in cost

Reduce Cash Management Cost Payments / Receipts on behalf

SEPA file conversion

Integrated Solution

Solution & Lessons learned

Treasury and Payment Hub in the Cloud

Treasury Management System – BELLIN tm5

Bank Connectivity – direct SWIFT connection via BELLIN tm5

SEPA file conversion & mandate management - Sentenial

Objective Result

Treasury Management

Payment Hub

SEPA Conversion

Integrated Solution

Investment Cost

Implementation Timeliness

Solution Footprint

Lessons Learned

64.9%17.7%

10.3%

7.1%

Cloud application is Plug and Play BELLIN tm5 live in 2 to 3 weeks (core Treasury) SWIFT connection live in ± 2 months (apart from SWIFT registration process)

Banks support is critical to meet deadlines No additional soft- and hardware, limited impact on IT resources

Enigma knowledge to redesign the original operating model

Getting it approved internally turned out an important hurdle

Project management needed to manage 2 software suppliers, 2 banks and

SWIFT

Impact SEPA format conversion bigger than anticipated

Benefits achieved & Next Steps

Benefit Status Explanation

Control Single source of information in single platform.

Availability of Cash Few subsidiaries still to be added to central cash pool

Visibility of Cash All MT940 Statements available in BELLIN tm5

Bank Independent Connectivity

ING and KBC live via SWIFT, but not completely bank independent yet

SEPA Migration Awaiting final amendments

Benefits achieved as per 1 November

What’s next

ERP Rationalization the new (cloud) infrastructure supports a step-by-step approach to

independently migrate to new ERP infrastructure SEPA from conversion service to integration in ERP systems Eliminate paper flow and implement eMandates

Payment Processing Optimization “On Behalf” Payments and Receipts Simplify to single account per country for VGG