Auckland Airport Reaches New Heights with Consolidated Treasury Management

The Challenge

The treasury function manages c.$2.2 billion of debt across a variety of sources from the New Zealand, Australian and the US private placement markets. Auckland Airport had operated for some time with a number of disparate systems to cover recording, reconciling and reporting of treasury transactions. Some systems were highly automated and sophisticated whilst others relied on more manual processes (such as Excel spreadsheets). The system landscape meant there was no single source to view treasury’s performance. As the organization’s needs grew, management of the treasury function was becoming increasingly challenging and inefficient. Management sought to consolidate all treasury systems into one platform, providing a single, reliable source of truth about the airport’s funding activities. Importantly, the new platform needed sufficient flexibility to cater for different audiences (e.g. operational and management reports), time horizons (e.g. weekly, quarterly and annual reporting) and scenario modeling.

The Solution

A number of Auckland Airport’s team members had prior experience using GTreasury products and were impressed with the company’s reputation, the robust functionality of the product set, the technical support on offer and experience in replacing the existing legacy system. GTreasury deployed its proven treasury solutions, optimized for the Transport and Logistics sectors, to meet the airport’s requirements. Auckland Airport presented an extensive list of requirements to consolidate existing processes and systems under one platform. The GTreasury Professional Services team engaged with business and functional stakeholders to implement a robust data migration process. Phase One focused on implementing reliable system to handle analysis and reporting of live and historical data, which recorded the airport’s debt and hedging portfolios and produced reliable monthly journals.

The Result

With Phase One completed, Auckland Airport is already realizing benefits from the consolidation of multiple processes and systems into GTreasury.

Higher confidence: With financial data integrated into a single system, Auckland Airport has greater confidence in the outputs of data extracts and reports

Process automation: Consolidation into GTreasury has dramatically improved business processes. With auto rate setting, scheduled reports, auto-generated email reminders and integrated payments, many manual processes have been superseded by the automated GTreasury system. Additionally, with GTreasury, there is a greatly reduced need to perform additional analysis.

Improved reporting: With an integrated and automated system, GTreasury has made a suite of new reporting views available to Auckland Airport. Staff are able to drill down to their desired level of detail to react quickly to data requests.