The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.

Thomas Cook selects XRT's Globe$ in bid to improve cash and risk management

International travel operator Thomas Cook has selected Globe$ from treasury solutions supplier XRT, in a move to improve its treasury cash and risk management.

XRT Globe$ will form a critical element of Thomas Cook's treasury infrastructure, and will replace a number of existing systems throughout the business, seamlessly connecting local offices to Thomas Cook headquarters. By implementing XRT Globe$, Thomas Cook aims to secure corporate liquidity and improve forecasting, minimise the negative impact of financial risk and optimise its corporate financing structure.

The need for a clearer view of its cash position and improved forecasting is central to the company's decision to implement XRT Globe$. As Heiko Gerhard Ries, head of group cash management at Thomas Cook, explains: "One of the main objectives of any corporate treasury is to secure corporate liquidity, and to ensure that sufficient funds are available for all payment transactions. With operations in so many locations, it is imperative that we have a very clear view of our financial position at all times, both to ensure short-term liquidity and for longer term planning and forecasting. Maximising our ability to manage risk - especially currency and interest rate risk, is also extremely important."

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree