Treasury: strong together
The Siegfried Group is a global life sciences company with facilities located in Switzerland, Malta, China, Germany, and France. Siegfried is active in primary and secondary drug manufacturing. The Group develops and manufactures active pharmaceutical ingredients for clients with R&D programs, related intermediates, and controlled substances. They also offer services in connection with their products. In the business year of 2015, approx. 2,300 employees achieved a turnover of around CHF 481 million. Siegfried Holding AG is publicly listed on the SIX Swiss Exchange.
Head of Treasury, Siegfried
Financing and funds allocation at Siegfried are organized centrally from Switzerland. By introducing a TMS, the company mainly aimed at achieving transparency around how requested funds were being used. Improving efficiency by replacing manual tasks was another key objective. Also on Siegfried’s agenda was to make their treasury systems independent from the technologies used by the corporate group and the discontinuation of decentralized Excel reporting. Previously, the different entities had been working very autonomously, and the main challenge was integrating everyone into one single, shared treasury platform while ensuring straight-through processing, including for payments.
The Solution: Load Balanced Treasury®
BELLIN provided Siegfried’s treasury with a web-based TMS. Now data for all treasury processes can be captured on a decentralized level, while ensuring visibility and the ability to analyze data at a centralized level. Transparency in connection with cash flows, an overview of relevant treasury transactions and the group-wide financial status in real time simplify liquidity management. This is complemented by medium to long-term liquidity planning that enables Siegfried to make forecasts in any market situation. Siegfried plans to manage all payments with tm5. FTX and EBICS connections cover the most important formats. They now intend to introduce additional banking communication channels. Next to daily account balancing, bulk payment files for conducting accounts payable runs and HR payments are processed and authorized in line with the treasury policy. Integrated reporting tools and automatic notifications facilitate the effective management of credit line utilization. Moreover, in the current negative interest rate environment, they provide valuable information on credit balances. A comprehensive overview of treasury data, the integration of payments and the modular nature of the system represent the ideal basis for the Siegfried Group to grow even further – with everyone acting in concert.
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