Elevion Group Secures Second Place in EACT Award 2024 for Innovative Multi-Currency Cash Pooling

Elevion Group proudly clinched the second place in the prestigious European Treasury Project of the Year (EACT Award 2024). This recognition highlights Elevion Group´s achievement in successfully implementing an international multi-currency cash pooling system across more than 30 entities in 8 countries. The project also featured the introduction of an innovative automated tool for the calculation and documentation of transfer pricing.

In partnership with Citibank, Elevion Group has established a cash pooling system for its entities across multiple countries. Cash pooling is a strategic financial mechanism that consolidated the balances of various company accounts within a single bank.

The implementation of this cash pooling system has enabled Elevion Group to manage its financial resources more efficiently. As a result, Elevion Group has seen a significant reduction in its interest costs, enhancing overall financial efficiency.

Jiří Pecka, Group CFO of Elevion Group, emphasized the importance of this achievement. He stated, “The successful implementation of our cash pooling system, in collaboration with Citibank, across more than 30 entities and 8 countries, has been instrumental in optimizing our financial operations. This project has allowed us to centralize and streamline our cash management, yielding substantial cost savings and operational efficiencies.”

Elevion Group´s recognition at the EACT Award 2024 underscores its commitment to financial innovation and efficiency. Elevion Group continues to seek advanced solutions to enhance its treasury operations, ensuring sustained growth and competitiveness in the international market.