 About the organization

OiLibya, is the brand name used by the affiliates owned by Libya Oil Holdings and previously
known as Tamoil Africa. Oilibya has over 3000 branches in 17 countries across Africa. With 34
affiliate companies working in 20 different currencies, Oilibya’s 105 banking partners are responsible
for more than 400,000 transactions per year.

The Article mainly discusses about the challenges faced by OiLibiya which forced them to opt for
treasury centralization and how KYRIBA a Treasury Management software has helped them in doing
so.

 Issues faced by them prior to Treasury Centralization.

 Lack of consolidated cash visibility.

 Cash positions, forecasting and reconciliation were done manually which lead to failure in
maintaining view of daily cash positions. This all lead to lack of accuracy in data, lack of variance
analysis and inability to measure the effectiveness of Data analytics.
 No real view of short-term liquidity risk or FX exposure

 These issues created an adverse impact to the organization due to

 Operational inefficiencies,
 More mistakes and
 Compromise on the quality of the data as it used to get expired by the time of analyzing it.

All of the above impacted them adversely as it led to increase in the workforces, bad investment
decisions and data interpretation inefficiencies.

 How did OiLibya avoid any Internal resistance while in the Transition procedure.

Created a detailed business case based on the challenges and losses, experienced, with quantifiable
return on investment and tangible business benefits.

Realistic budget was proposed for the same which could be offset by future protentional losses.

Learned from the previous experiences of the implementation and hence went forward with the plan
accordingly.

 Take away from their Treasury Centralisation procedure .

Creation of detailed project charter plays a crucial role so does project planning, schedules, detailed
organization of project teams and committees, communication charts , identification of eventual risks
and anticipation of back-up plans, and change management impacts while implementing Treasury
Management system

 Selection of Treasury Management System ( TMS)

TMS Function selection was based basically on the ability to optimize treasury function for which
three key areas were evaluated :

1) Time, efficiency and financial gains;

2) Risk mitigation, fraud protection and compliance; and
3) Return on investment.