Company
United Technologies Corporation
Industry
Aerospace and Defence
Revenue
$77bn
Employees
240,000
Headquarters
Waltham, Massachusetts, USA
Serrala helped us complete an incredibly complex transformation project to a very aggressive timeline. Their help laid the ground for fully modernized digital treasury systems in all 3 of our new entities, even during the most disruptive part of the COVID pandemic, and have paved the way for the success of all 3 companies from day one.” – John Fede, Associate Director, Digital Technologies, GBS, Raytheon Technologies
United Technologies Corporation was a global conglomerate spanning a huge number of industries from aerospace and defense to building automation, HVAC, industrial products, and fire and security services.
United Technologies’ historic merger – and separation
United Technologies Corporation (UTC) were negotiating a merger with their industry rivals Raytheon while also spinning out large parts of their business into 2 completely independent companies. This separation meant each new entity would need its own treasury systems – all with extremely rigorous secure data management and data privacy support.
Each business also needed ongoing support to manage their new systems after the separation to get their finances off to a strong start and help balance the huge risks inherent in a strategy of this scope and magnitude with the need for process improvements and streamlining of manual workloads and unnecessary frictions.
Key facts:
UTC knew that SAP was a battle-tested system that can manage large-scale, complex treasury operations. They therefore decided to follow a “clone and clean” approach that would duplicate their original treasury structure across the 3 new entities while also preserving only that data relevant to each new business and radically improving, streamlining, and simplifying their technical architecture and processes at the same time.
They partnered with Serrala because of our solutions’ ability to automate a large part of the processes they were using in the SAP Treasury and Risk applications. This meant we were the perfect partner to support project tasks like ensuring fast data cleansing and process design – eliminating manual steps, reducing costs, and helping leverage real-time financial data to enable accurate planning and forecasting. Since our solutions embed directly within SAP systems, UTC also knew they could rely on us to simplify interfaces to external systems, significantly reducing transformational and operational friction.
UTC’s treasury separation project began in March 2019. The restructuring was complete by October of the same year, and the physical separation of systems occurred in February 2020 after all user acceptance testing – meaning the entire project was completed in just 11 months. Well within time for the business’s legal separation at the beginning of April 2020.
Our solutions were key to success at every step of the process by providing the process improvements that allowed for the logical and physical separation of systems in quick time, and by providing ongoing support after legal separation to help each entity with continuous improvement and ensure smooth operational sailing from the outset. They also helped to radically expedite UTC’s concurrent merger with Raytheon Technologies by providing full transparency of all treasury operations.
United Technologies Corporation was a global conglomerate spanning a huge number of industries from aerospace and defense to building automation, HVAC, industrial products, and fire and security services.
United Technologies’ historic merger – and separation
United Technologies Corporation (UTC) were negotiating a merger with their industry rivals Raytheon while also spinning out large parts of their business into 2 completely independent companies. This separation meant each new entity would need its own treasury systems – all with extremely rigorous secure data management and data privacy support.
Each business also needed ongoing support to manage their new systems after the separation to get their finances off to a strong start and help balance the huge risks inherent in a strategy of this scope and magnitude with the need for process improvements and streamlining of manual workloads and unnecessary frictions.
Key facts:
UTC knew that SAP was a battle-tested system that can manage large-scale, complex treasury operations. They therefore decided to follow a “clone and clean” approach that would duplicate their original treasury structure across the 3 new entities while also preserving only that data relevant to each new business and radically improving, streamlining, and simplifying their technical architecture and processes at the same time.
They partnered with Serrala because of our solutions’ ability to automate a large part of the processes they were using in the SAP Treasury and Risk applications. This meant we were the perfect partner to support project tasks like ensuring fast data cleansing and process design – eliminating manual steps, reducing costs, and helping leverage real-time financial data to enable accurate planning and forecasting. Since our solutions embed directly within SAP systems, UTC also knew they could rely on us to simplify interfaces to external systems, significantly reducing transformational and operational friction.
UTC’s treasury separation project began in March 2019. The restructuring was complete by October of the same year, and the physical separation of systems occurred in February 2020 after all user acceptance testing – meaning the entire project was completed in just 11 months. Well within time for the business’s legal separation at the beginning of April 2020.
Our solutions were key to success at every step of the process by providing the process improvements that allowed for the logical and physical separation of systems in quick time, and by providing ongoing support after legal separation to help each entity with continuous improvement and ensure smooth operational sailing from the outset. They also helped to radically expedite UTC’s concurrent merger with Raytheon Technologies by providing full transparency of all treasury operations.
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