Case Study: Cigna achieves global treasury visibility and improved cash forecasting with Reval

How Cigna achieved greater visibility, control and more accurate cash forecasting with shared data

Cigna, a global health services company with more than 88 million customer relationships, faced a critical treasury challenge during the financial crisis: it took a week to identify exposures in key European markets. Their legacy, PowerBuilder-based in-house treasury system was US-focused, not multi-currency, poorly integrated with other financial applications, and made regulatory reporting and global visibility slow and error-prone; decentralized local IT support also ruled out a straightforward global upgrade, so SaaS was chosen as the best path forward.

Working with Strategic Treasurer, Cigna selected Reval and implemented a SaaS treasury management system integrated with a BA Web bank account management platform and an in-house payments hub (Bottomline/Web Series with SWIFT). The phased global rollout and top-down change management standardized bank administration, payments, reporting and forecasting, delivering greater visibility and control, more accurate cash forecasting, cost savings and ROI, productivity and process efficiencies, and a model approach for other global firms.

Cigna

Scott Lambert

Treasury Senior Director