Case Study: ASYAD Group achieves centralized treasury visibility and automated cash management with Bottomline TreasuryXpress

Asyad Group Full Speed Ahead with Bottomline for Treasury

Asyad Group is a $4bn Omani government-owned logistics group whose maritime arm, Asyad Shipping, operates a fleet of about 60 vessels. The group suffered from an almost entirely manual treasury setup—paper-based payment sign-offs, limited internet banking and poor cash visibility across 35 banks and 200 accounts—undermining forecasting, cash pooling and timely financing decisions as it moved to centralise treasury functions.

Asyad implemented Bottomline’s TreasuryXpress in a phased integration with its ERP and banking partners, reorganised front-, middle- and back-office roles, and established an in-house bank with cash-pooling. Within six months it achieved full cash visibility and SWIFT connectivity, enabled strategic refinancing (five facilities refinanced in 2019 saving over $21m), generated financing income of more than $12m in 2020, reduced bank costs and elevated treasury from a cost centre to a strategic, revenue-generating function.

ASYAD Group

Muhsin Alrustom

Group Chief Financial Officer