Case Studies Outsourcing payments to a specialist

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	Outsourcing payments to a specialist

Outsourcing payments to a specialist

Technology Category	Analytics & Modeling - Predictive Analytics Functional Applications - Enterprise Resource Planning Systems (ERP) Functional Applications - Remote Monitoring & Control Systems
Applicable Industries	Chemicals
Applicable Functions	Business Operation
Services	Cloud Planning, Design & Implementation Services Software Design & Engineering Services System Integration
Challenge	Archroma faced significant challenges in managing its payment transactions due to the complexity of connecting various banks via their individual eBanking tools. This led to security issues and heavy time demands on the Treasury Department and back office operations, as payment rejection information did not feed back into SAP automatically. The company aimed to reduce costs by minimizing the number of bank platforms, establish straight-through processing out of SAP, and adhere to compliance regulations through the automation of bank transactions via a single platform. Read More
About Customer	Archroma, a global industrial supplier of textile, paper, adhesives, and surface coatings, was formed in 2013 after Clariant divested its businesses in these areas to SK Capital. Headquartered in Reinach near Basel, Switzerland, Archroma serves a global market with annual revenues of CHF 1.3 billion and employs around 3,000 people in 35 countries. In its first year, Archroma successfully carved out its IT infrastructure and applications, including building its own SAP platform and outsourcing finance services to Accenture. The company adopted a strategy to outsource all server activities to third parties to support a speedy carve-out process and reduce operational risks. Read More
Solution	Archroma integrated Reval as its treasury management system with the TIS platform for all payment transactions. PAN Consulting provided substantial support in the choice and implementation of these systems. The solution offered maximum visibility and control of payment streams via a central cockpit with web-based access. This integration allowed Archroma to reproduce all business operations in Treasury, including foreign exchange, money market dealings, financing, ratings, and risk management. The TIS platform enabled straight-through processing of all payment transaction streams from the ERP system, significantly reducing workload, error rates, and ensuring compliance. The web-based nature of TIS aligned with Archroma's philosophy of outsourcing its entire IT infrastructure. Read More Log in to view content
Contents

Technology Category

Analytics & Modeling - Predictive Analytics

Functional Applications - Enterprise Resource Planning Systems (ERP)

Functional Applications - Remote Monitoring & Control Systems

Applicable Industries

Chemicals

Applicable Functions

Business Operation

Services

Cloud Planning, Design & Implementation Services

Software Design & Engineering Services

System Integration

Challenge

Archroma faced significant challenges in managing its payment transactions due to the complexity of connecting various banks via their individual eBanking tools. This led to security issues and heavy time demands on the Treasury Department and back office operations, as payment rejection information did not feed back into SAP automatically. The company aimed to reduce costs by minimizing the number of bank platforms, establish straight-through processing out of SAP, and adhere to compliance regulations through the automation of bank transactions via a single platform.

About Customer

Archroma, a global industrial supplier of textile, paper, adhesives, and surface coatings, was formed in 2013 after Clariant divested its businesses in these areas to SK Capital. Headquartered in Reinach near Basel, Switzerland, Archroma serves a global market with annual revenues of CHF 1.3 billion and employs around 3,000 people in 35 countries. In its first year, Archroma successfully carved out its IT infrastructure and applications, including building its own SAP platform and outsourcing finance services to Accenture. The company adopted a strategy to outsource all server activities to third parties to support a speedy carve-out process and reduce operational risks.

Solution

Archroma integrated Reval as its treasury management system with the TIS platform for all payment transactions. PAN Consulting provided substantial support in the choice and implementation of these systems. The solution offered maximum visibility and control of payment streams via a central cockpit with web-based access. This integration allowed Archroma to reproduce all business operations in Treasury, including foreign exchange, money market dealings, financing, ratings, and risk management. The TIS platform enabled straight-through processing of all payment transaction streams from the ERP system, significantly reducing workload, error rates, and ensuring compliance. The web-based nature of TIS aligned with Archroma's philosophy of outsourcing its entire IT infrastructure.

Impact #1	Archroma achieved measurable cost reductions in IT maintenance, operations, administration, and bank fees.
Impact #2	The company made better decisions due to workflow-based processes between all subsidiary companies.
Impact #3	Daily oversight of the liquidity position was possible at the push of a button.

Impact #1

Archroma achieved measurable cost reductions in IT maintenance, operations, administration, and bank fees.

Impact #2

The company made better decisions due to workflow-based processes between all subsidiary companies.

Impact #3

Daily oversight of the liquidity position was possible at the push of a button.

Benefit #1	Archroma managed around 175 bank accounts uniformly via the TIS platform.
Benefit #2	The company operates in 43 countries with almost 60 legal entities.
Benefit #3	Archroma's annual revenues are CHF 1.3 billion.

Benefit #1

Archroma managed around 175 bank accounts uniformly via the TIS platform.

Benefit #2

The company operates in 43 countries with almost 60 legal entities.

Benefit #3

Archroma's annual revenues are CHF 1.3 billion.

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Overview

Outsourcing payments to a specialist

Operational Impact

Quantitative Benefit