“We succeeded in completely standardizing our processes, increasing process and audit security and gaining complete real-time information of our company-wide bank accounts.” - Roland Weidele, Treasury Manager, MANN+HUMMEL GmbH
Standardization of bank account management worldwide
The MANN+HUMMEL Group is a leading global expert for filtration solutions and development partner and original equipment supplier to the international automotive and mechanical engineering industries. At 60 locations in 28 countries, the cooperation is employing worldwide 16.000 employees and achieved a group sales of 2,8 billion EUR.
The central Treasury at the head office in Ludwigsburg are responsible for liquidity management, risk management, capital financing and banking policy as well as the management of more than 250 bank accounts. Due to the increasing complexity in the management of the various bank accounts, account information and authorisations, the company was facing the challenge of an efficient and secure bank account management.
MANN+HUMMEL faced following challenges:
- High manual effort in the bank account management with increased risk of error
- Time consuming, paper based workflow processes
- Limited ability to provide information and data actualityt
- Lack of reporting capabilities
- Inadequate audit compliance and Corporate Governance
- Inefficient, non-transparent workflow processes
“We have achieved our project goals up to 100%. Due to the cloud based technology of the solution, we succeeded in a fast and cost effective implementation and fast regional roll out. With the Bank Account Manager we have established a good basis for our treasury. Now we are
able to focus on new topics, such as the management of payments or the bank fee controlling.” – Roland Weidele, Treasury Manager.
Learn more about how MANN+HUMMEL, together with TIS, managed to standardise bank account management worldwide, harmonise internal processes and increase process security.
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