More transparency thanks to straight-through processing
Company Size
1,000+
Region
- Asia
- Europe
Country
- Netherlands
- Singapore
Product
- TIS SaaS Platform
- Navision ERP System
- Deltek ERP System
Tech Stack
- SaaS
- SWIFT
- EBICS
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Cost Savings
- Digital Expertise
- Productivity Improvements
Technology Category
- Analytics & Modeling - Real Time Analytics
- Functional Applications - Enterprise Resource Planning Systems (ERP)
- Platform as a Service (PaaS) - Connectivity Platforms
Applicable Industries
- Construction & Infrastructure
- Oil & Gas
- Utilities
Applicable Functions
- Business Operation
Services
- Cloud Planning, Design & Implementation Services
- Software Design & Engineering Services
- System Integration
About The Customer
Fugro is a Netherlands-based international geophysics and geotechnics company that provides the people, equipment, expertise, and technology to support the exploration, development, production, and transportation of the world's natural resources. Fugro offers Earth and engineering data services, from project preparation through to data acquisition, processing, analysis, interpretation, reporting, and consulting. Their services are designed to support clients' engineering design and large structure building projects, aiming to derisk major investment decisions. This includes providing information and advice on the best ways to locate and build foundations for production platforms, wind farms, large buildings, and infrastructure, as well as related inspection, maintenance, repair, installation, and light construction support services.
The Challenge
The Fugro Group faced significant challenges due to its decentralized payment processes. Each country unit managed its payment cycles independently, leading to a lack of centralized visibility and control over the group's liquidity and cash flows. The group had approximately 50 different local ERP systems connected separately to local banks through various e-banking tools. This decentralized structure made it difficult for the central treasury department to monitor and control all account movements on a daily basis. The only transparency came from monthly reports, which often arrived two weeks after transactions had occurred, resulting in delayed and incomplete financial insights.
The Solution
To address the challenges, Fugro implemented the TIS SaaS platform, which provides a centralized payment transaction platform. This solution integrates with the group's ERP systems, enabling straight-through processing of all payment flows. The TIS platform includes the Bank Transaction Manager, Bank Account Manager, and Bank Statement Manager, which facilitate automated and standardized payment processes. The SaaS nature of the platform eliminates the need for local software installations and allows web-based access for employees globally. Additionally, the platform supports various bank connection protocols and channels, including host-to-host, SWIFT, and EBICS, enabling seamless communication with banks worldwide. The implementation of the TIS platform has resulted in significant time and cost savings, improved cash flow visibility, and enhanced control over the group's liquidity.
Operational Impact
Quantitative Benefit
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