“The TIS solution is ideal for us, because it means we only have to operate one channel instead of the 15 various eBanking tools used to date.”
- Bas Coolen, Group Treasurer, Archroma.
A single point of contact for all cash management activities
In September 2013 the Swiss chemicals company Clariant divested all of its former businesses in the textile, paper and emulsion product areas to SK Capital (a US-based private investment firm), giving birth to Archroma. This new company now serves a global market and is a leading industrial supplier of textile, paper, adhesives and surface coatings, with annual revenues of CHF 1.3 billion. Its head office is in Reinach near Basel, Switzerland. Archroma employs around 3,000 people in 35 countries worldwide. In its first year of operation Archroma managed to carve out its IT infrastructure and applications within 12 months, including building its own SAP platform. SAP cutover was done simultaneously with the outsourcing of finance services to Accenture. In terms of servers and infrastructure Archroma has adopted a strategy whereby it is aiming to outsource all (application and data) server activity to third parties.
Faced with a focus on cost reduction through a decrease in the number of bank platforms, an establishment of straight-through processing out of SAP and increased adherence to compliance regulations, Archroma decided on a single point of contact for all cash management activities in the business.
With the TIS Cloud Platform some of the following challenges were solved:
- High degree of complexity in payment transactions as a result of the connection of various banks via their individual eBanking tools
- Security issues with using many eBanking tools
- Heavy time demands on the Treasury Department and the back office operations as payment rejection information did not automatically feed back into SAP
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Hundreds of accounts. One solution: The TIS payment factory.
The TIS payment platform enables you to centralize all of your payment flows and processes automatically.
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