Maruti Suzuki India Limited is the largest passenger vehicle manufacturer in India with dominant market share. It is a 56.21%-owned subsidiary of Japanese automobile and motorcycle manufacturer Suzuki Motor Corporation.
The country’s largest carmaker Maruti Suzuki has roped in IBSFINtech to automate its entire treasury operations to protect itself from currency and market volatility, and eliminate errors.
We have been looking for a TMS for quite some time and finally we closed upon IBSFINtech’s Innovative Treasury Management system as it proved to be apt for our requirements. They have offered customization, wherever necessary. During implementation, we have observed and appreciated the ease of use and inherent reporting capabilities. I am glad we selected IBSFINtech.
Dinesh Gandhi
GM-Finance Head-Treasury, Maruti Suzuki India Ltd.


  • Maruti Suzuki India Limited has exposure to foreign exchange, commodity price and interest rate risk. It is imperative that treasury manages these risks to ensure the sustainability and continued profitability of the company.
  • With a lean treasury team, the objective was to improve the current treasury framework, process, systems and strategy to harness the potential of every team member. A decision was made to improve the treasury function through the implementation of best practices across FX risk management, investments management and cash flow management, the objective being to create a simple, sustainable, quick, efficient and innovative treasury function that could support Maruti Suzuki as it continued to grow.


Maruti Suzuki selected IBSFINtech’s Treasury Management System to better manage their investment portfolio, moving away from spreadsheets and inefficient methods.
On the investment management side, a new strategy was put in place to take advantage of the falling interest rates and reduce tax liability by investing in growth schemes of debt mutual funds for a period of more than three years. Investments were made in an appropriate mix of duration, short-term and fixed maturity plans of debt mutual funds, keeping safety and quality of mutual fund portfolio in mind. This strategy resulted in MSIL earning better returns then the prevailing market yields by a couple of percentage points.
Implementation of the Treasury management solution resulted in N2N automation ranging from transaction processing, accounting and reporting.
Throughout the project, the Maruti Suzuki treasury wanted to keep the solutions simple yet sustainable, quick yet efficient and innovative yet easy to implement. The result has been a project that has fundamentally reshaped the treasury through the use of best practices.
By moving from spreadsheet models to a TMS, using innovative methodology for foreign currency risk management, sound investments strategy and creating an efficient way to manage cash flow operations the treasury has been able to contribute to the bottom line of the company.

Solution Benefits

  • Improved risk management
  • Cost savings
  • Efficiency gains
  • Contributed to the bottom line
  • Improved investment returns
  • N2N automation of investments


Media Coverage

Economic Times, India’s leading Financial Daily, covered the story on Maruti’s selecting IBSFINtech’s Treasury Management Solution to remove spreadsheets and automate the Treasury management processes at the company.
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