Expanding an entertainment conglomerate by more than 20% annually in the world's biggest media market is no easy task. Factor in a relatively lean treasury team and you can start to appreciate the pressure on ZEE Entertainment Enterprises Ltd. (ZEE), Chief Financial Officer, Rohit Gupta, when he began his search for a banking partner to free up his resources and to focus on making the most of market opportunities.
How a bespoke end-to-end cash management solution provided by BNP Paribas transformed long-term client, Zee Entertainment Enterprises, treasury function into a digital and sustainable role model.
Given the myriad new technologies coming to market every day, choice was not an issue, but knowing how to make the right choice was critical.
"We need to have the right technology and funding in place to support the business and its dynamic needs. In addition, treasury must reduce any financial barriers for creators and providers of content to enable them to do the best possible job," Gupta explains. "Both ZEE and BNP Paribas have a passion for digitisation and automation, so our goals were, and are, very much aligned. This made BNP Paribas the natural choice of partner for our transformation journey – we also knew that they would come to the table with innovative ideas and solutions."
ZEE Chief Financial Officer Gupta and BNP Paribas' Balsekar explained to Treasury Management International (TMI) how BNP Paribas partnered with ZEE to streamline and digitise the company's collections and payments.