Brenntag AG

Treasury Without a Hitch

Brenntag_HEADER

Treasury Without a Hitch

Brenntag is the global market leader in chemical distribution and offers more than 10,000 products to over 170,000 customers. Brenntag is the global link between chemical manufacturers and chemical users with over 490 locations in 72 countries. The company, which has a global workforce of more than 13,500, generated sales of EUR 10 billion in 2014.

The Challenge

Treasury, accounting and a proprietary software system developed especially for Brenntag grew along with the expansion of the long-established company. Brenntag was looking to make their treasury processes transparent and effective and replace the various systems with a single, standard platform. Easy and quick access to the necessary data was needed to faciliate reporting.

 

The Solution: Structure Analysis

In workshops, Brenntag and BELLIN together analyzed all treasury processes in the company. As a result of this process-oriented approach, streamlined and efficient workflows, e.g. authorization and communication, were implemented in tm5. A special feature: accounting had specific requirements for the treasury department which were solved via an interface solution to the ERP system. It was important for Brenntag to maintain a high degree of consistency in their cash management processes to take advantage of the synergies between accounting and treasury. In addition, the system now facilitates foreign currency administration by providing an integrated reporting tool.

 

 Implementation

With the introduction of the system, the great value of the extensive process analysis became apparent: the intuitive and connected system enabled an effective treasury with limited staff resources. After deciding on tm5 in March 2014, the changeover took place very quickly. The implementation phase began in May 2014, and after the test phase, the system went live in November of the same year.

Key Facts
Industry
Chemical Distribution
Founded, Headquarter
1874, Mühlheim / Ruhr | DE
Employees
13,622
Companies
> 490
Annual turnover
EUR 10 billion (2014)
Modules in use
LM, TT
With BELLIN since
2014
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