Success Story
NCC Group
offices worldwide
revenue
FTSE listed
About
NCC Group is a global cyber and software resilience business operating across multiple sectors, geographies and technologies. NCC assesses, develops and manages cyber threats across an increasingly connected society. The company advises global technology, manufacturers, financial institutions, critical national infrastructure providers, retailers and governments on the best way to keep businesses, software and personal data safe.
Solutions leveraged:
Solution
Global Liquidity Management
John Cloherty, Group Treasurer NCC Group, and his team use the cash flow forecast from Ripple Treasury to manage liquidity across the group and make sure every business unit is adequately funded. “Ripple Treasury is a key tool in NCC’s global liquidity management, providing transparency down to an individual cash transaction level of detail. This provides timely notice of local deficits so they can be funded promptly, as well as variance analysis to highlight key changes in cash flows.” said John when asked about the role Ripple Treasury plays in managing liquidity, day-to-day.
Debt Covenant Compliance Forecasting
Headroom on NCC’s leverage covenants are closely monitored by the NCC Treasury team. Ripple Treasury is a core input to this process as it provides the cash forecast used in turn to forecast covenants. Commenting on this, John said “Ripple Treasury is also a key tool in forecasting compliance with Leverage covenants under our borrowing facilities.”
- Multi-business unit cash flow forecasting
- Intercompany tracking
- Multi-currency cash flow forecasting
- Consolidation reporting
- RP integration for automated ledger unwind
- Variance and accuracy reporting
“If you are still using a cumbersome, error-prone spreadsheet that requires too much time spent on maintaining rather than focusing on the outputs, Ripple Treasury is a step towards 21st Century treasury processes, quick to implement and likely to be welcomed by your CFO. It won’t improve cash forecasting accuracy on its own, but it will quickly highlight the key issues and focus outputs for business leaders.”
Benefits
- Significant time saving at head office and reporting units
- Detailed daily 13 week group wide cash visibility
- Forecast automation for business units using ledger unwind
- Greater certainty over period end debt covenant compliance