AW Rostamani Group (AWR Group) has completed a major transformation of its group-wide cash management infrastructure, establishing a connected and digitally enabled treasury framework that brings banking, payments, liquidity management and reporting into a single operating environment.

The programme was recognised at the Association of Corporate Treasurers (ACT) Middle East Treasury Awards, where AWR Group won the Cash Management award.

As a diversified group operating across multiple sectors, entities and business models, AWR Group identified an opportunity to strengthen the way cash and liquidity were managed across its businesses. The group has moved from a decentralised banking structure towards a more integrated treasury model that provides greater group-level visibility, stronger governance and improved operational efficiency.

In partnership with First Abu Dhabi Bank (FAB) as the core banking partner, the transformation established AWR Group’s first In-House Bank, introducing Payment-on-Behalf-Of (POBO) and Receipt-on-Behalf-Of (ROBO) capabilities. The programme replaced a network of physical bank accounts with a streamlined virtual account structure, centralising group-wide payments and collections. 

Powered by real-time business intelligence tools, the new platform provides management with live, consolidated visibility of cash and liquidity across the group, while allowing individual businesses to retain the operational flexibility required to manage their day-to-day activities.

Wayne Beifus, Chief Financial Officer at AWR Group, said: “Our cash management transformation has created a stronger, more scalable treasury platform for AWR Group. We now have significantly better visibility over liquidity across the Group, stronger controls and a more efficient operating model, while maintaining the flexibility our individual businesses require.”

“The ACT Cash Management Award is great recognition for what our Group Treasury, Finance and IT teams have delivered together with FAB. More importantly, it reflects the strength of the foundation we have built to support AWR Group’s continued growth and diversification.”

James Adams, Group Treasurer at AWR Group, added: “The transformation brings together what were previously multiple banking structures, accounts and processes into a more connected treasury environment. By centralising payments and collections and increasing automation across core activities, we have created a more efficient operating model while giving the Treasury team better information to support liquidity management and decision-making.”

The new treasury framework connects AWR Group’s core financial and enterprise systems, creating greater integration across banking, payments, cash management and financial reporting. – TradeArabia News Service