Case Studies Flexible, Scalable, & Compliant TIS Automates Global Payments & Cash Management for TeamViewer

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	Flexible, Scalable, & Compliant TIS Automates Global Payments & Cash Management for TeamViewer

Flexible, Scalable, & Compliant TIS Automates Global Payments & Cash Management for TeamViewer

Technology Category	Analytics & Modeling - Predictive Analytics Functional Applications - Enterprise Resource Planning Systems (ERP) Networks & Connectivity - Network Management & Analysis Software
Applicable Industries	Professional Service Software
Applicable Functions	Business Operation
Services	Cloud Planning, Design & Implementation Services Cybersecurity Services System Integration
Challenge	As a rapidly growing company with a global presence, TeamViewer’s treasury department faced significant challenges by 2019. The 2-person team had to manage 10 legal entities, 7 banks, and 39 individual bank accounts across 11 countries. While 15 accounts were managed through a centralized solution, the remaining 24 required access via various electronic banking systems and portals. This plurality of systems led to time-consuming, manual, and potentially error-prone workflows. A significant portion of the treasury’s daily bandwidth was spent on handling different e-banking solutions, ensuring secure and compliant workflows, and maintaining visibility across global cash balances and payment statuses. Sabine Kießling, Director Controlling & Treasury at TeamViewer, recognized that unifying all existing banking and back-office solutions through a single system would reduce workload, increase efficiency, ensure compliance, reduce fraud risk, and provide full visibility and control over global payments and cash positions. This would allow the department to focus on strategic tasks and support company growth more cohesively. Read More
About Customer	TeamViewer is a global technology company that provides a connectivity platform for remotely accessing, controlling, managing, monitoring, and repairing devices of any kind. With around 620,000 subscribers, TeamViewer enables companies of all sizes and industries to digitalize their business-critical processes through seamless connectivity. The company is headquartered in Goppingen, Germany, and has 12 international offices with over 1,300 employees worldwide. TeamViewer’s software has been installed on more than 2.5 billion devices since its founding in 2005. The company is listed on the Frankfurt Stock Exchange (TMV) and is part of the MDAX performance index. TeamViewer is actively shaping digital trends and innovating in fields such as Augmented Reality, Internet of Things (IoT), and Artificial Intelligence (AI). Read More
Solution	TeamViewer selected TIS to address their treasury challenges. TIS could establish connectivity to TeamViewer’s global banking landscape in a timely and cost-effective manner while managing the full deployment. TIS supported the roll-out in tandem with the introduction of TeamViewer’s new ERP system, which lacked a treasury module and could not efficiently connect to other banks and systems. TIS was identified as the best service provider to meet TeamViewer’s needs due to their extensive financial messaging format library, bank connectivity options, and maintenance and configuration services. TIS provided the best price/performance ratio and prioritized the rollout of new features important to TeamViewer. The deployment began with connecting TeamViewer’s new ERP and existing bank partners, starting with accounts in Germany. Payments generated in Microsoft Dynamics 365 would pass through TIS for transmission to banks, accounting for all required approvals and signatories. TIS facilitated real-time cash reports, transmission of bank statements, increased compliance and security for payment workflows, and provided total transparency and control over these processes. Additional capabilities such as a Flexible Approval Process, Sanctions Screening support, and a Beneficiary Address Book were recommended and added to the scope for further improvement. Read More Log in to view content
Contents

Technology Category

Analytics & Modeling - Predictive Analytics

Functional Applications - Enterprise Resource Planning Systems (ERP)

Networks & Connectivity - Network Management & Analysis Software

Applicable Industries

Professional Service

Software

Applicable Functions

Business Operation

Services

Cloud Planning, Design & Implementation Services

Cybersecurity Services

System Integration

Challenge

As a rapidly growing company with a global presence, TeamViewer’s treasury department faced significant challenges by 2019. The 2-person team had to manage 10 legal entities, 7 banks, and 39 individual bank accounts across 11 countries. While 15 accounts were managed through a centralized solution, the remaining 24 required access via various electronic banking systems and portals. This plurality of systems led to time-consuming, manual, and potentially error-prone workflows. A significant portion of the treasury’s daily bandwidth was spent on handling different e-banking solutions, ensuring secure and compliant workflows, and maintaining visibility across global cash balances and payment statuses. Sabine Kießling, Director Controlling & Treasury at TeamViewer, recognized that unifying all existing banking and back-office solutions through a single system would reduce workload, increase efficiency, ensure compliance, reduce fraud risk, and provide full visibility and control over global payments and cash positions. This would allow the department to focus on strategic tasks and support company growth more cohesively.

About Customer

TeamViewer is a global technology company that provides a connectivity platform for remotely accessing, controlling, managing, monitoring, and repairing devices of any kind. With around 620,000 subscribers, TeamViewer enables companies of all sizes and industries to digitalize their business-critical processes through seamless connectivity. The company is headquartered in Goppingen, Germany, and has 12 international offices with over 1,300 employees worldwide. TeamViewer’s software has been installed on more than 2.5 billion devices since its founding in 2005. The company is listed on the Frankfurt Stock Exchange (TMV) and is part of the MDAX performance index. TeamViewer is actively shaping digital trends and innovating in fields such as Augmented Reality, Internet of Things (IoT), and Artificial Intelligence (AI).

Solution

TeamViewer selected TIS to address their treasury challenges. TIS could establish connectivity to TeamViewer’s global banking landscape in a timely and cost-effective manner while managing the full deployment. TIS supported the roll-out in tandem with the introduction of TeamViewer’s new ERP system, which lacked a treasury module and could not efficiently connect to other banks and systems. TIS was identified as the best service provider to meet TeamViewer’s needs due to their extensive financial messaging format library, bank connectivity options, and maintenance and configuration services. TIS provided the best price/performance ratio and prioritized the rollout of new features important to TeamViewer. The deployment began with connecting TeamViewer’s new ERP and existing bank partners, starting with accounts in Germany. Payments generated in Microsoft Dynamics 365 would pass through TIS for transmission to banks, accounting for all required approvals and signatories. TIS facilitated real-time cash reports, transmission of bank statements, increased compliance and security for payment workflows, and provided total transparency and control over these processes. Additional capabilities such as a Flexible Approval Process, Sanctions Screening support, and a Beneficiary Address Book were recommended and added to the scope for further improvement.

Impact #1	TIS managed the full and rapid onboarding for TeamViewer, connecting their new ERP and existing bank partners, starting with accounts in Germany.
Impact #2	TIS facilitated real-time cash reports, transmission of bank statements, increased compliance and security for payment workflows, and provided total transparency and control over these processes.
Impact #3	The implementation resulted in significant process automation and a drastic reduction in the number of systems that TeamViewer’s treasury team had to manage.

Impact #1

TIS managed the full and rapid onboarding for TeamViewer, connecting their new ERP and existing bank partners, starting with accounts in Germany.

Impact #2

TIS facilitated real-time cash reports, transmission of bank statements, increased compliance and security for payment workflows, and provided total transparency and control over these processes.

Impact #3

The implementation resulted in significant process automation and a drastic reduction in the number of systems that TeamViewer’s treasury team had to manage.

Benefit #1	TeamViewer’s treasury team managed 39 individual bank accounts across 11 countries.
Benefit #2	The initial go-live of the new solution occurred within 6-7 months.
Benefit #3	TeamViewer’s software has been installed on more than 2.5 billion devices worldwide.

Benefit #1

TeamViewer’s treasury team managed 39 individual bank accounts across 11 countries.

Benefit #2

The initial go-live of the new solution occurred within 6-7 months.

Benefit #3

TeamViewer’s software has been installed on more than 2.5 billion devices worldwide.

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Overview

Flexible, Scalable, & Compliant TIS Automates Global Payments & Cash Management for TeamViewer

Operational Impact

Quantitative Benefit