How cloud-based B2B payment platforms can help IT managers too
More and more companies are using cloud-based platforms to cure the IT headaches that come with making corporate payments. Here we look at the benefits for two such companies.
More and more companies are using cloud-based platforms to cure the IT headaches that come with making corporate payments. Here we look at the benefits for two such companies.
There is no such thing as idle time for in-house IT departments. From taking care of employees’ daily software issues to performing large-scale migrations, IT teams have usually got their hands full. It’s a constant juggle of tasks that can feel like there are never enough resources to go around.
The last thing IT leaders want is for the department’s time to be consumed with repetitive work caused by inefficient processes in the business. Unfortunately, building the end-to-end connectivity that ERPs and banks need for straight-through payment processing often takes up a lot of IT’s time – especially when a company operates internationally. The task is not only complex and time consuming, it’s also a constantly shifting goal as banks change their requirements and communication protocols.
Before logistics giant DACHSER implemented a cloud-based payments solution, the company was facing many of the biggest challenges associated with global payments. With operations in 437 locations around the world, DACHSER must contend with a wide variety of bank formats, currencies and compliance requirements. It makes for an extremely complex IT scenario, but by linking its SAP systems with a cloud-based payments platform, DACHSER was able to harmonise global payment processes for its EUR 5 billion revenue business.
Now, the company’s treasurers can centrally access local payment information at any time. This is not only good for cash flow control, it also means massive savings in terms of IT resources. The solution is fully audit compliant too. DACHSER’s payments platform can now be described in those words that are magic for IT managers and treasurers alike: straight-through processing.
The challenge was similar for Fugro, a Dutch multinational that provides geo-intelligence solutions for infrastructure-heavy industries. Before Fugro chose a cloud-based payments solution in 2015, the company was unable to centrally manage its payments. Approximately 50 different local ERP systems were connected separately to local banks through a variety of e-banking tools. Huge IT investment – and significant time – would have been required to streamline the payment process and create a centralized view.
The SaaS payments solution that Fugro chose required no local software installation, so the company could get it up and running quickly without the need for a time-consuming IT project. Now, anyone at Fugro who needs to carry out or check payments – some several hundred employees globally – can easily access the system through a web browser and control payments via a central dashboard. Payment transactions have been embedded within the company’s ERP landscape, creating a straight-through-processing solution that both saves IT resources and brings cash flow efficiencies to Fugro’s business.
Companies in any industry can benefit from cloud-based payment platforms and the efficiencies that come with straight-through processing. Download our factsheet to find out more: https://bit.ly/2y8leDq.
About TIS
TIS (Treasury Intelligence Solutions GmbH), founded in Walldorf, Germany in 2010, is a global leader in managing corporate payments. The Financial Times named TIS as one of “Europe’s Fastest Growing Companies” for 2019.
Offered as Software-as-a-Service (SaaS), the TIS solution is a comprehensive, highly-scalable, cloud platform for company-wide payments and cash management. For businesses, TIS creates a community of trust and empowers customers to make better decisions with 100% real-time cashflow visibility. Key benefits are lower costs, risk prevention, a higher degree of transparency and fast worldwide roll-outs. For banks and partners, TIS generates growth and revenue opportunities through continuous innovation for better payment experience.
The TIS solution has been successfully used for many years in both large and medium-sized companies, including Adecco Group, BMW Group, Fresenius, Fugro, OSRAM, QIAGEN and Volkswagen Group. 25% of DAX companies are already TIS customers.
The high level of security and deep integration of the platform with existing ERP systems is certified by ISO-27001, SOC 1, SOC2, and SAP.
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