CASE STUDY
IHH Healthcare drives operational excellence & strategic growth through a treasury-first digital transformation
IHH Healthcare
IHH Healthcare, Asia’s largest private healthcare group, operates 80 hospitals across ten countries. To support an ambitious growth strategy and fund acquisitions, the group transitioned from manual, fragmented processes to a “treasury-first” digital framework.
By integrating Bloomberg’s FX aggregator and a new Treasury Management System (TMS), IHH has centralized liquidity, automated complex hedging, and established a scalable foundation for group-wide finance innovation.
INDUSTRY
Healthcare (Private Group)
GOAL
Harmonize operations, optimize cash management for acquisitions, and drive automation through a “single source of truth” for data.
Key insights
Adopted Bloomberg’s FX aggregator to automate orders, reducing manual intervention and operational risk.
Leveraged a digital tender platform (Treasury Delta) to eliminate spreadsheets from the RFP process, dramatically reducing the selection lifecycle for their TMS.
Established a regional cash pooling structure to optimize internal funding and reduce reliance on external borrowing.
Designed a workflow where Bloomberg’s FX solutions connect directly with the Kyriba TMS to automate trade confirmation and settlement.
Situation
IHH Healthcare embarked on a major three-year transformation to align its finance function with a rapid expansion strategy. As a massive organization with over 70,000 employees, the group needed to ensure its treasury function could fund acquisitions efficiently while maintaining “bank-grade” oversight. Leadership chose a “treasury-first” approach because these initiatives could deliver tangible benefits quickly with minimal disruption to core finance operations.
Problem
The primary challenge was a lack of real-time visibility into cash and bank accounts across a diverse international footprint. The existing model faced several hurdles:
- Suboptimal cash management led to an over-reliance on external borrowing.
- FX trading and hedging processes were manual, increasing the risk of errors and operational bottlenecks.
- Traditional RFP processes for new technology were time-consuming and relied on cumbersome email exchanges and spreadsheets.
Solution
IHH implemented a multi-layered digital solution to modernize its treasury. The group adopted Bloomberg’s FX aggregator to streamline trading. This provides a controlled electronic workflow that reduces manual steps and enhances transparency.
IHH selected Kyriba to act as the “single source of truth” for treasury data, improving cash forecasting and liquidity planning.
To find the right TMS partner, IHH used the Treasury Delta platform. This digital approach allowed for real-time data insights and an integrated scoring matrix, setting a new benchmark for best practices in technology selection.
In partnership with HSBC, a regional cash pooling structure was launched to centralize liquidity across Asia.
The transformation has already delivered significant process efficiencies and increased system connectivity. By automating orders and reducing the number of banking partners, IHH has lowered its operational risk and improved overall cash visibility. This “treasury-first” journey has not only delivered immediate value but also paved the way for advanced finance innovations in AI and data analytics.
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