Why a TMS is not enough
Company Size
1,000+
Country
- Worldwide
Product
- TIS
- SWIFT
- SAP
- Oracle
- Kyriba
Tech Stack
- Cloud-based Platform
- SWIFT Connectivity
- ERP Interfaces
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
- Software
Applicable Functions
- Business Operation
Services
- Cloud Planning, Design & Implementation Services
- System Integration
About The Customer
Adecco is a global staffing company with annual sales of well over EUR 20 billion, operating in more than 60 countries with 5,100 branches. The company supports more than 700,000 permanent and temporary employees every day, holding more than 1,000 bank accounts at over 100 banks. Adecco's business involves ensuring that employees are paid promptly and treated well, making treasury operations a critical function. The company's legacy treasury operations were highly decentralized, requiring a transformation to integrate cash management, improve controls, and increase cash visibility.
The Challenge
Adecco, a global staffing company, faced the challenge of managing a highly decentralized treasury operation with separate systems installed at many company operations. The company needed to integrate cash management, improve controls, and increase cash visibility while reducing the number of banking systems used. The TMS played a valuable role in managing debt, investments, foreign exchange, and cash forecasting, but connecting the company and its systems to the banks and the TMS was a significant challenge. Adecco's bank connections were diverse, including SWIFT, H2H, EBICS, and more, supporting a wide variety of payment types. The time and cost of forcing connectivity through a TMS architecture would slow the journey considerably, and a roll-out of the TMS to smaller business units was not practical or cost-effective.
The Solution
Adecco selected a TMS as the corporate standard to integrate cash management, improve controls, and increase cash visibility. However, the challenge of connecting the company and its systems to the banks and the TMS led them to seek an alternative solution. They found TIS, a cloud-based platform designed to optimize outbound payments. The TIS architecture provided a single point of contact for bank connectivity, simplifying the 'many to many' connectivity challenge. TIS offered a substantial library of bank connectors and payment formats, enabling agile development with new formats and connectors added every four to six weeks. The TIS business model included straightforward pricing based on the number of bank accounts and connected systems, with no additional charges for current TIS banking connections, bank-specific formats, or SWIFT connectivity. The solution allowed Adecco to be truly bank agnostic, leveraging independence to realize better terms from their banks.
Operational Impact
Quantitative Benefit
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