5 min read
Key takeaways
- Prysmian Group dealt with fragmented payment data, manual processes and communication gaps between North America and its Milan, Italy-based headquarters, complicating daily cash flow forecasting for its 10 operating companies and 13 bank accounts in North America
- According to Pierluigi Contessa, Vice President & Treasurer at Prysmian, Cash Flow Intelligence automated cash visibility, improved forecast horizon by 3x (going from 30 days to 91 days visibility), consolidated financial data and improved inquiry resolution by 10x—all without additional IT requirements
- Contessa reports that, post-implementation, Prysmian maintains a <1% error rate, saves $100,000 annually and reduced workload by 10 hours weekly
About
Prysmian Group (Prysmian), a leading global producer of energy and telecom cables, plays a vital role in advancing energy and data transmission globally.1 However, its global operations and fluctuating market conditions posed significant challenges in cash flow management. To address these issues, Prysmian implemented Cash Flow Intelligence, an AI-powered Treasury Insights solution* that helped transform its treasury operations, enhance cash visibility and streamline forecasting.
Icon of a piggy bank: "$100,000" - Annual savings due to manual reconciliation elimination of over 3,000 daily transactions.
Icon of a clock: "10 hours" - (~50% of the time usually spent per week on forecasting) Time freed up for a full-time treasury team member to focus on business-critical tasks.
Icon of a calendar: "91 days" - Expanded forecasting horizon threefold (from 30 to 91 days).
Icon of a checklist: "10x" - Faster resolution to senior management financial inquiries.
Icon of a group of people at a table: "<1%" - Error rate for improved decision-making.
The opportunity
According to Pierluigi Contessa, Vice President & Treasurer at Prysmian Group, the company faced several treasury challenges exacerbated by its multi-company, multi-accounts operating model, market volatility and frequent acquisitions in North America where cash flow forecasts needed to be quickly included in the numbers. As a manufacturer of electric and fiber optic cables, the company's materials are subject to fluctuating commodity prices and foreign exchange rates. Managing the cash flow impact of these fluctuations is critical as Prysmian needs to continue meeting growing demand for its products driven by data center openings, energy infrastructure projects and technological advancements like AI and 5G networks.2
Additionally, Prysmian's North American operations, which span the United States, Canada and Mexico, requires consolidated liquidity visibility across multiple legal entities.2 Efficient cash flow management was essential to maintaining smooth operations, especially with capital-intensive projects the company undertakes, such as multi-billion submarine cables power systems.2
Contessa shared that, before the implementation of Cash Flow Intelligence, Prysmian's treasury team faced:
-
Fragmented data: Payment information was dispersed across various ERP systems and banking reports, making data extraction inefficient and manual, which hindered daily cash reconciliation and forecasting
-
Manual processes: The treasury team relied on spreadsheets to extrapolate data for cash forecasting and for daily bank balances/payment reconciliation, leading to lengthy and labor-intensive processes prone to human error
-
Communication gaps: The North American treasury team needs to report daily cash positions and liquidity needs variances to headquarters in Milan, and any delays or discrepancies could lead to significant financial variances globally
-
Limited resources: The treasury team, consisting of only two members, needed a more efficient and automated way to manage operations and support other departments with payment inquiries
“The J.P. Morgan Payments team is a true collaborator, always looking for feedback and sharing input on new features that can help us streamline our processes further or unlock new insights that help improve our bottom line.”
Pierluigi Contessa
Vice President & Treasurer, Prysmian Group
The solution
To tackle these challenges, Prysmian implemented Cash Flow Intelligence, part of the Treasury Insights solution from J.P. Morgan Payments. Cash Flow Intelligence, powered by machine learning, provides real-time cash visibility and enhanced forecasting capabilities, while eliminating manual data entry and reconciliation processes.
The platform integrates with J.P. Morgan Access®, Prysmian's banking portal, enabling real-time insights into cash positions across North America:
-
AI-driven analytics: Cash Flow Intelligence leverages machine learning algorithms to automate cash forecasting, identify trends and detect outliers across Prysmian's entities3
-
Multi-bank integration: Cash Flow Intelligence consolidates data from multiple banking relationships, enabling a comprehensive view of liquidity3
-
IT implementation: The solution required no IT overhead and was deployed quickly without additional infrastructure needs4
“Cash Flow Intelligence has been a game changer for our Treasury team. Not only has it helped us improve our forecasting, but also enables us to make smarter business decisions across our global organization and build stronger relationships with our vendors. It also saved our team time on manual processes so we can focus our energy on more strategic decisions and projects.”
Pierluigi Contessa
Vice President & Treasurer, Prysmian Group
The results
According to Contessa, Prysmian achieved two major outcomes by using Cash Flow Intelligence:
Improved forecasting performance
Significant time and cost savings
Improved forecasting performance:
- Extended forecast horizon by 3x: Prysmian extended its forecast window from 30 days to 91 days, resulting in a threefold increase in forecast performance.4 Despite this extended forecast horizon, the company maintained a <1% error rate, providing highly reliable insights to guide decision-making.4
- Resolution time reduced by 90%: Prior to implementing Cash Flow Intelligence, financial inquiries from senior management and cross-functional departments took hours to resolve due to manual processes. After implementation, Prysmian's treasury team now resolves these inquiries 10 times faster, enabling faster, more informed decisions.4 This accelerated inquiry resolution improved responsiveness to management requests, allowing for swifter action on cash flow adjustments and financial strategies.
Significant time and cost savings:
- 50% reduction in a team member's tasks: With Cash Flow Intelligence automating key cash forecasting and reconciliation processes, Prysmian's treasury team reduced time spent on manual tasks by half, eliminating roughly 10 hours of work per week previously dedicated to pulling data from multiple sources and reconciling accounts.4 This freed time was redirected towards more strategic activities, such as long-term financial planning and retrospective analyses, improving overall departmental effectiveness.4
- $100,000 in reduced labor costs: The automation provided by Cash Flow Intelligence allowed Prysmian to eliminate the need for dedicated manual data entry and forecast reconciliation staff. This resulted in an estimated savings of $100,000 in annual labor costs, directly attributable to the reduction of manual tasks and redeployment of resources toward higher-value activities.4 These cost savings improved the overall efficiency of the treasury team, allowing them to handle more complex tasks without additional headcount.4
Prysmian's adoption of Cash Flow Intelligence significantly optimized its North American treasury operations. The AI-driven platform enabled real-time visibility, improved forecasting accuracy and accelerated inquiry resolution, helping Prysmian save time, reduce costs and focus on strategic initiatives. With Cash Flow Intelligence, Prysmian strengthened its treasury capabilities, driving better decision-making and aligning its cash management strategies with its long-term growth objectives.
Through innovative solutions like Cash Flow Intelligence, J.P. Morgan Payments empowered Prysmian to navigate the complexities of global operations and achieve its ambitious cash generation goals.
To learn more, visit https://www.jpmorgan.com/payments/solutions/insights/treasury
References
Prysmian Group. "Prysmian Group Press Kit." Accessed April 3, 2025
Contessa, P. Interview with Vice President & Treasurer at Prysmian Group. J.P. Morgan Payments
JPMorgan. "AI-Driven Cash Flow Forecasting: The Future of Treasury." Accessed April 3, 2025
Contessa, P. Interview with Vice President & Treasurer at Prysmian Group. J.P. Morgan Payments
Disclaimer
*Cash flows are estimates and are no guarantee of future results.
J.P. Morgan, JPMorganChase, Chase, Chase Merchant Services, and Chase Payment Solutions are marketing names for certain businesses of JPMorganChase and its subsidiaries worldwide (collectively, “JPMorganChase”). Products or services may be marketed and/or provided by commercial banks such as JPMorgan Chase Bank, N.A., securities or other non-banking affiliates or other JPMorganChase entities. JPMorganChase contact persons may be employees or officers of any of the foregoing entities and the terms “J.P. Morgan”, “JPMorganChase”, “Chase”, “Chase Merchant Services” and “Chase Payment Solutions” if and as used herein include as applicable all such employees or officers and/or entities irrespective of marketing name(s) used. Nothing in this material is a solicitation by JPMorganChase of any product or service which would be unlawful under applicable laws or regulations.
Investments or strategies discussed herein may not be suitable for all investors. Neither J.P. Morgan nor any of its directors, officers, employees or agents shall incur in any responsibility or liability whatsoever to the Company or any other party with respect to the contents of any matters referred herein, or discussed as a result of, this material. This material is not intended to provide, and should not be relied on for, accounting, legal or tax advice or investment recommendations. Please consult your own tax, legal, accounting or investment advisor concerning such matters.
Not all products and services are available in all geographic areas. Eligibility for particular products and services is subject to final determination by JPMorganChase and/or its affiliates. All products and services are subject to applicable laws, regulations, and applicable approvals and notifications.
Any mentions of third-party trademarks, brand names, products and services are for referential purposes only and any mention thereof is not meant to imply any sponsorship, endorsement, or affiliation.
Notwithstanding anything to the contrary, the statements in this material are not intended to be legally binding. Any products, services, terms or other matters described herein (other than in respect of confidentiality) are subject to, and superseded by, the terms of separate legally binding documentation and/or are subject to change without notice.
Changes to Interbank Offered Rates (IBORs) and other benchmark rates: Certain interest rate benchmarks are, or may in the future become, subject to ongoing international, national and other regulatory guidance, reform and proposals for reform. For more information, please consult: https://www.jpmorgan.com/global/disclosures/interbank_offered_rates.
JPMorgan Chase Bank, N.A. Member FDIC. Deposits held in non-U.S. branches are not FDIC insured. Non-deposit products are not FDIC insured.
JPMorgan Chase Bank, N.A., organized under the laws of U.S.A. with limited liability.
© 2025 JPMorgan Chase & Co. All Rights Reserved.
