Ready for future growth
Company Size
1,000+
Region
- Europe
Country
- Germany
- Italy
- United Kingdom
Product
- Bank Transaction Manager
- Bank Account Manager
- Bank Statement Manager
- Business Discovery Manager
Tech Stack
- Cloud-based platform
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Customer Satisfaction
- Digital Expertise
- Productivity Improvements
Technology Category
- Platform as a Service (PaaS) - Connectivity Platforms
- Platform as a Service (PaaS) - Data Management Platforms
Applicable Industries
- Renewable Energy
Applicable Functions
- Business Operation
Services
- Cloud Planning, Design & Implementation Services
- System Integration
About The Customer
Encavis AG is one of Europe’s leading listed and independent power producers in the renewables sector. Formed in 2017 from the merger of Capital Stage AG and CHORUS Clean Energy AG, its core business is the acquisition and operation of solar and on-shore wind farms in Germany and throughout Europe. Encavis operates 250 subsidiaries, manages around 1,100 bank accounts across 50 different banks in 10 European countries, and employs a four-member treasury team at its headquarters. The company generates stable returns through guaranteed feed-in tariffs or long-term purchase agreements.
The Challenge
The large number of banks and bank accounts is a result of the growth strategy of Encavis AG. Since 2011, it has increasingly been buying small solar and wind parks throughout Europe. When a new company was acquired, so was its existing bank and account structure. This led to a decentralized treasury landscape with multiple e-banking solutions and tokens. Encavis decided to reorganize the IT infrastructure to centralize group-wide bank account management and streamline all payment transactions. The selection process started in the third quarter of 2018, and the decision was made in December to adopt the TIS platform. The roll-out began in January 2019.
The Solution
Encavis adopted several TIS solutions, including Bank Transaction Manager, Bank Account Manager, Bank Statement Manager, and Business Discovery Manager. These solutions provided complete transparency and control of group-wide bank accounts and payments, including HR payments. The TIS platform enabled more efficient processing of all payment transactions and supported Encavis's growth strategy through acquisitions by allowing quick connection of new subsidiaries. The centralized platform also helped manage staff changes and compliance requirements, providing an audit trail for signature authorizations. The treasury team can now control local account authorization from Hamburg or virtually access the platform anywhere in the world.
Operational Impact
Quantitative Benefit
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