"The feedback from our group companies is great. They were a bit skeptical to start with, having to change familiar processes. Now they’re asking when they’re getting the next component!"
Gunnar Pape, Treasury Manager
Global Payments in One System
Sartorius Group is a leading international pharmaceutical and laboratory equipment supplier with the two divisions Bioprocess Solutions and Lab Products & Services. Bioprocess Solutions has a large product portfolio focusing of single-use solutions that help make biotech drugs and vaccinations and their manufacture more secure. Lab Products & Services focuses on premium lab instruments, consumables and services for R&D, QA/QC in pharmaceutical and biopharmaceutical companies as well as academic research organizations. The company was founded in 1870 and achieved a turnover of over 1.1 billion euros in the financial year of 2015. Sartorius employs around 6,200 people worldwide.
Tremendous international growth has been an integral part of the company history of Sartorius AG for over 140 years: to date, 50 production and sales locations have been established. Some 30 percent of sales are achieved in North America, 50% in EMEA and 20% in Asia-Pacific. This growth came with an increase in banking connections and bank accounts, in turn leading to soaring costs and a lack of visibility. Sartorius’ challenge was to replace the great number of local treasury and payment systems with different technologies and to establish a global Group Treasury at their headquarters in Göttingen, Germany.
The Solution: Act locally, plan and manage centrally
Sartorius’ main reason for choosing BELLIN was the option to integrate all group companies worldwide in the treasury setup via the central platform tm5. The system was first rolled out in Germany with a consolidation of payments; these are now processed entirely via EBICS. This was followed by the integration of the French group companies with payments processed via Global EBICS. Once all entities in mainland Europe had been integrated in tm5, the Asia-Pacific Region and the UK were incorporated. Currently, CCE countries are being included with host-to-host connections to two main banks. The treasury team trained all group companies in all regions, one country after another, offering onsite training. From a technological point of view, Sartorius uses three different payment solutions but the user interface is the same for everyone. Sartorius has implemented cash pools in Europe and is in the process of doing the same in North America and Asia-Pacific. They’re also planning a Payment Factory. Liquidity forecasting is done centrally at headquarters for the entire group and Göttingen is also responsible for FX hedging and controlling global payments. Having implemented tm5 and benefiting from a more efficient and integrated treasury has also helped strengthen the group identity in all units.
Watch the video about the treasury of Sartorius!
|Industry||Pharmaceutical and laboratory equipment|
|Founded, HQ||1870, Goettingen | DE|
More than 6,200
|Companies||50 in 30 countries|
|Annual turnover||EUR 1.1 billion (2015)|
|Modules in use||LM, TT, Market Data Service|
|With BELLIN since||