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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
The 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 The 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.
The 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.
Operational Impact
Quantitative Benefit
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