“The ability to collect and analyse data in real time is a priority for BearingPoint, hence why I am partnering with TIS to adopt their new BI solution.” - Eveline Stam, Group Treasurer, BearingPoint.
Improved payments, compliancy, transparency and SEPA ready in once
BearingPoint is a global management and technology consultancy firm that advises clients in financial services, government and commercial services. The company has its headquarters in Amsterdam (the Netherlands) and offices in 17 countries. The SAP ERP system is used by all offices firm-wide. The various BearingPoint entities were collaborating locally with a significant number of banks. Powers to sign were not restricted in the past and it was difficult for the central treasury to get real-time insight into the cash position of the firm.
BearingPoint wanted to reduce the risk of being non-compliant and reduce the number of bank relations. In addition, it needed a solution for the transition to SEPA. Therefore, BearingPoint developed a bank strategy and selected TIS for the implementation of Bank Communication and Bank Account Management.
With the goals of reducing risks and compliance issues as well as to reduce the number of bank connections, BearingPoint was up against the following challenges:
- Reduce the number of banks in line with the new bank strategy
- Deliver transparent financial reporting and firm-wide cash position overview
- Improve compliancy and governance by implementing a professional Bank Account Management system
- Reduce manual work within the Treasury department
How did BearingPoint solve these problems with a single end-to-end cloud solution? Download the complete success story.
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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