Case Study: PharmaNet Development Group achieves centralized, automated global banking and cash management with GTreasury

Pharmanet Uses Gtreasury to Automate Its Global Banking and Cash Management Functions

PharmaNet Development Group, a global drug‑development services provider, faced a fragmented treasury with roughly 100 bank accounts at 28 banks, limited cash visibility, and daily cash reporting done manually in error‑prone Excel spreadsheets. After appointing a corporate treasurer to centralize operations, PharmaNet evaluated GTreasury and selected GTreasury’s ASP platform (initially considering its bank communications module) to replace spreadsheet processes and consolidate global cash management.

GTreasury implemented a tailored ASP solution—using modules such as funds transfer, balance reporting, worksheets, FX, SWIFT integration, ACH processing and a custom free cash calculation—linking the treasury workstation to the general ledger and banks. The rollout (completed in about three months) automated daily cash workflows, centralized treasury functions in the U.S., enabled international payments and real‑time cash visibility across offices, and handles 5–200 payments per day; the automation reduced manual work, improved control and reporting, and freed staff for more strategic activities.

PharmaNet Development Group

Lillian Burke

Corporate Treasurer