28 Sep Arcos Dorados, automating its cash management in LATAM
Since 2013, ARCOS DORADOS – the world’s largest McDonald’s franchise – has relied on All CMS (Altin Cash Management Solutions,S.L) to automate its Cash Management system with the Kyriba SaaS platform.
Details about All CMS’s collaboration with Arcos Dorados:
- Project start in 2013
- Integrated cash management and bank communication platform
- Presence in Latin America and the Caribbean
- Centralised cash management for over 20 countries
About the cash solution deployment project
All CMS, (www.allcms.es) was selected in 2013 by Arcos Dorados (ARCO – NYSE), the world’s largest independent McDonald’s franchisee and the largest fast food restaurant chain in Latin America and the Caribbean, to deploy its integrated cash management management and bank communication platform..
Since then, Kyriba’s solution has been used by the Corporate Treasury team in Buenos Aires to connect with the different banks in the countries it operates (20 countries in Latin America and the Caribbean) using the SWIFT integrated service, thus allowing the company to manage its bank processes more efficiently. In addition, Arcos Dorados uses the bank reconciliation module to automate the large volume of accounting and bank transactions to be reconciled. The Kyriba platform is used by a team of more than 15 people managing the cash of more than 20 countries..
In the words of its CFO
According to Mariano Tannenbaum, CFO of Arcos Dorados “We needed a cash management and bank communication infrastructure in line with the company’s size. The chosen solution had to meet the company’s productivity and security objectives, ensuring information fluidity and interoperability with the company’s ERP. By optimising and automating our main treasury processes, Kyriba offers our team time savings and greater dedication to strategic decision making. Likewise, having the expertise of the All CMS teams both for the deployment of the platform and for the day-to-day support has been key to the project’s success.”
About ARCOS DORADOS
Arcos Dorados is the world’s largest independent McDonald’s franchisee and the biggest fast-food restaurant chain in Latin America and the Caribbean. The Company has the exclusive right to own, operate and franchise McDonald’s locations in 20 countries and territories in those regions including Argentina, Aruba, Brazil, Chile, Colombia, Costa Rica, Curacao, Ecuador, French Guiana, Guadeloupe, Martinique, Mexico, Panama, Peru, Puerto Rico, St. Croix, St. Thomas, Trinidad and Tobago, Uruguay and Venezuela. Since 2007, when we consolidated our position in the region, we have been focused on the same commitments that guide our path: food quality and transparency; generation of formal employment for young people; support for communities; sustainable supply chain and environmental impact; diversity and inclusion; innovative experiences for the whole family, are just some of them.
Download the press release about Arcos Dorados cash management automation
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