Transparent financial reporting and cash positions
Company Size
1,000+
Region
- Europe
Country
- Netherlands
Product
- SAP ERP
- TIS Bank Communication and Bank Transaction Manager
Tech Stack
- Cloud-based SaaS
- SEPA-enabled payment solution
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Cost Savings
- Customer Satisfaction
- Productivity Improvements
Technology Category
- Functional Applications - Enterprise Resource Planning Systems (ERP)
- Platform as a Service (PaaS) - Connectivity Platforms
Applicable Industries
- Professional Service
Applicable Functions
- Business Operation
Services
- Cloud Planning, Design & Implementation Services
- System Integration
About The Customer
BearingPoint is a global management and technology consultancy firm headquartered in Amsterdam, the Netherlands. The company operates in 17 countries and uses the SAP ERP system across all its offices. BearingPoint provides advisory services to clients in financial services, government, and commercial sectors. The firm had a decentralized financial operation with local offices collaborating with numerous banks, leading to a complex and inefficient financial management system. The central treasury faced challenges in gaining real-time insights into the firm's cash position and ensuring compliance with financial regulations.
The Challenge
BearingPoint faced several challenges with its decentralized financial operations. The company had over 120 different bank accounts across more than thirty banks, making it difficult for the central treasury to consolidate financial data and track employee payment authorizations. The manual processes were time-consuming and error-prone, and there were concerns about compliance, particularly with the four-eye principle. Additionally, the transition to SEPA standards required a revision of the Bank Account Management system. BearingPoint needed a scalable, quickly deployable solution that did not require extensive IT investments.
The Solution
BearingPoint implemented TIS's Bank Communication and Bank Transaction Manager (BTM) to address its financial management challenges. The solution was chosen for its scalability, quick deployment, and minimal IT investment requirements. TIS's extensive knowledge of SAP systems and its SEPA-enabled payment solution were crucial factors in the selection. The implementation was carried out in phases, starting with tightening internal guidelines, such as limiting each office to two banks and defining payment authorization terms for employees. The web-based SaaS product provided real-time insights into financial flows, reduced manual payments, and minimized errors. The system also centralized the management of bank balances and employee authorizations, making the financial reporting and compliance processes more efficient.
Operational Impact
Quantitative Benefit
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