Payments: The Whole Lot in One System
Coatings such as paints and enamels have been used for thousands of years for the protection and decoration of living spaces. Since 1895 DAW has developed, produced and sold innovative coating systems. As an independent family company in its fifth generation, it has continued to grow to become Europe’s leading privately-owned manufacturer of paints and is market leader in Germany, Austria and Turkey. The DAW Group is home to numerous stalwart brands, such as Alpina and Caparol. It is the driver of innovation in coating materials, thermal insulation and building protection. With 6,000 employees in over 40 countries and 29 production sites, DAW achieved a turnover of 1.3 billion euros in 2014.
Head of Treasury, DAW SE
At DAW, the treasury department is responsible for payments, cash and liquidity management as well as the respective contract management and treasury reporting. Each of these responsibilities was previously managed via a different system and sometimes several types of banking software were used. This made the management and control of payment runs as well as the management and compilation of important financial data very difficult. A uniform system was needed to represent the groupwide liquidity status promptly and to support the automation of payment processes as well as to enable centralized payments. In addition, the very strict, companywide security requirements for payment processes posed a particular challenge.
The Solution: Efficient processes with an elaborate authorization concept
The fully integrated, web-based TMS drastically reduced the complex system landscape at DAW and made it manageable. This went hand in hand with considerably faster payment processes. The decision to opt for tm5 hosted by BELLIN had the advantage of not using up any DAW-internal IT resources. In order to meet the strict security requirements for payment processes, BELLIN’s consulting team, in cooperation with DAW’s treasury, developed a sophisticated signature and authorization concept which implements a dual approval across all departments. In cooperation with BNP Paribas, international subsidiaries were also integrated into payment processes via a host-to-host connection using Global EBICS.
The concept of LoadBalancedTreasury® involves all subsidiaries in the different workflows. The Market Data Service connected to it supports derivative trading which is effectively represented and managed in the TT module. Moreover, the treasury can generate reports in the integrated platform in a timely and straightforward fashion.
Let’s get in touch!
Interested in learning more about our solutions? That’s great.
Because we’d like to learn more about you. So give us a shout.