When none of the different parties of an international payment transaction knows where a payment is in transit, fixing any delays is a challenge. L’Oréal, with support from BNP Paribas has created a simple solution that shines a light on every payment-related move, for all involved.
With L’Oréal Group executing international transfers on behalf of most group entities worldwide, every transaction passes through L’Oréal’s treasury systems. This, says Justine Dimovic, Global Head of Treasury & Financing, L’Oréal, means that treasury is the nexus for all flows and settlements, and therefore the point of contact for each supplier looking for information about an expected payment.