Perfect teamwork for global payments
Brückner Group is a medium-sized, family-owned group based in Germany. They are one of the leading partners in the plastics and packaging industry worldwide, and the group companies develop, plan, construct and build specialized machines and entire production plants. A total of over 2,300 employees in 28 locations on four continents make for a truly international company profile. In 2015, Brückner Group generated a turnover of EUR 560 million.
Group Treasurer, Brückner Group GmbH
Brückner Group embarked on a project to overhaul their global payments setup with the aim of achieving improved visibility, security and a complete overview of payments group-wide. Previously, they had been using too many tokens and too many different systems. The project also set out to minimize administrative efforts in connection with signing authorities, to boost security and to benefit from synergy effects.
In the fall of 2015, Brückner decided to get connected to the SWIFT Network. BELLIN and Brückner’s three main banks, were included in the project. Brückner opted for the LMPayment module and applied for SWIFT membership with the BELLIN SWIFT Service. As little as four weeks later, Brückner was allocated a BIC and SWIFT had completed the technical setup. As soon as the SWIFTnet contracts with the banks had been signed, the Brückner team was connected. The system went live in May 2016 when the first payments could be effected.
Josef Huber, Group Treasurer at Brückner, likes to compare the restructuring of global payments with the line-up of a soccer team: kick-off point is the SWIFT Network in the center, flanked by the banks on one side who pass the money to the suppliers and employees on the payroll. On the other side of the field we have tm5, which captures payment files, and single payments, as well as payroll and treasury payments directly in the system, making data directly available to the treasury team.
Treasury at Brückner is now a well-coordinated team that not only manages 90% of all payments in a secure, seamless and affordable manner, but also allows for “return passes,” such as account statements, acknowledgement slips and FX transaction confirmations. With this tactic, Brückner Group has the perfect formation for the future. The company now plans to integrate guarantees and Letters of Credit, followed by additional ways of using the system in the long run.
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