Wacker Neuson Group is the world’s leading manufacturer of high-quality construction machinery and compact machines. Headquartered in Munich, they have production and development sites in Germany, Austria, Serbia and also the US, Brazil and the Philippines. More than 50 subsidiaries, 140 sales and service companies, and 12,000 sales and service partners worldwide all contribute to the Wacker Neuson success story. The group has been listed on the German SDAX since 2007.
Thomas A. Woelk
Head of Corporate Treasury, Wacker Neuson
Wacker Neuson Group has grown considerably in recent years, both consolidating and expanding international activities to achieve this. This growth has come with a number of global challenges and specific local requirements which called for the continuous adaptation of systems and processes. The aim was to boost efficiency and visibility in treasury, in particular for payments and reporting.
In the wake of the introduction of SEPA, Wacker Neuson intended to integrate global activities in their payments setup. Using a global format allowed them to avoid implementing a specific payment format “dialect” for each country and each bank. Integrating all domestic and international payments in all countries by means of this format was of key importance. They quickly succeeded in identifying such a format: XML 20022-based CGI V2/V3. However, the introduction of a global format alone did not completely resolve the issue. This was because of the multitude of different communication channels that had been established as the company grew. In addition to online banking portals, payments processing also included various local software products. What the group needed was a standardized platform to submit standardized payment formats via standardized communication channels. Together, Wacker Neuson and BELLIN experts were able to “have it all:” country by country, account by account, requirement by requirement were integrated. Today, Wacker Neuson’s treasury benefits from straightthrough processing, clear structures and authorizations for every user. This enables the treasury team to work with high efficiency – centrally decentralized – and benefit from increased security and compliance.
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