No small change: Multi-billion-dollar retailer builds an independent treasury function in five months
The challenge
Following a major corporate separation, a multi-billion-dollar retail company needed to establish treasury operations independent from its former parent company’s systems and processes.
Under looming Transition Services Agreement (TSA) deadlines, the retailer had five months to stand up the systems, bank connections, integrations, controls, and day-to-day processes needed to run treasury on its own. Additionally, it all had to happen without interrupting cash positioning, vendor payments, or financial reporting.
The scope was significant. The company needed a standalone Kyriba environment, connectivity for 18 accounts across two financial institutions, and integrations with two ERP systems. With internal teams, banks, and technology partners all working toward the same deadline, there was little room for delays or missteps.
The approach
Clearsulting brought together treasury expertise and hands-on Kyriba experience to help the retailer move quickly and make the right decisions.
The work began with a clear focus on what had to be ready for Day 1. From there, Clearsulting designed the environment to meet immediate separation requirements without limiting what the organization could do next.
The team led the Kyriba reimplementation across cash management, bank connectivity, debt and investments, and core treasury data. It also configured single sign-on, role-based access, and controls that reflected the company’s new organizational structure.
Clearsulting connected 18 bank accounts from two financial institutions, giving the treasury team automated access to prior-day and intraday reporting. A consistent structure for accounts, entities, and cash flows also made it easier to manage cash positioning and reporting while creating a stronger starting point for future forecasting.
Two ERP systems were connected to Kyriba through secure SFTP integrations, automating the exchange of treasury and accounting data and supporting general ledger reporting. This reduced the number of manual handoffs required in daily processes.
Clearsulting coordinated bank onboarding, testing, cutover planning, and decisions across the different workstreams. The team also created menu maps, documentation, and targeted training so the retailer could take ownership of the platform after go-live.
The results
The organization launched its independent treasury function in five months, meeting critical TSA milestones without disrupting daily cash operations, vendor payments, or financial reporting.
- 18 bank accounts connected across two financial institutions
- Two ERP systems integrated with Kyriba
- Prior-day and intraday bank reporting automated across connected accounts
- Cash positioning, treasury reporting, and general ledger data exchange automated
- Single sign-on and role-based access introduced for the new operating structure
- Critical separation milestones met without operational disruption
With the new environment in place, the retailer gained direct control over its treasury data and processes, along with a clearer view of liquidity across its accounts and entities.
The work also laid the groundwork for the next phase of its treasury roadmap. At the time of writing, the company had plans to expand the platform with Kyriba Payments, bringing more automation and control to payment processing.
Build for Day 1 … and what comes next
For this multi-billion-dollar retailer, achieving independence was no small change. Instead of recreating inherited processes, the company used the separation as an opportunity to build a treasury environment around its own needs.
The result is a more flexible foundation that can support future growth, improve liquidity management, and strengthen financial controls.
Connect with our team to learn how Clearsulting can help you meet critical separation deadlines while building a treasury function designed for what comes next.