Crayon, a rapidly growing global IT consultancy, has undergone a transformative innovation in its treasury department. With the help of BNP Paribas, Crayon implemented a centralized cash management system, automated liquidity forecasting, and a pan-European cash pooling solution. 

Kristin Qvale, Head of Cash Management Norway, BNP Paribas: 

“We established a centralised implementation project team together with Crayon, with a project manager coordinating all the topics across countries. Our project managers have significant and relevant cash management knowledge, and we worked closely with Crayon to smooth the process and meet the expected timeline for go live.”

The transformation has enabled Crayon to support its rapid growth and improve its financial management. 

Lei Wang Giæver, Treasurer, Crayon: 

“There was a clear need to better champion treasury and how it related to, and could enhance, the overall business. (…) When you have a gross revenue that is peaking like a rocket, you have to know where the cash is at all times."

The renovation of Crayon's treasury also involved breaking up traditional collaboration between finance and operations cells, engaging earlier, and addressing risks before reaching out to clients. BNP Paribas' cash intercompany solution helped Crayon overcome the "pain" of managing intercompany loans. 

"Working with BNP Paribas on cash concentration was really important – you need the right banking partner to push this" concludes Giæver. 

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