KRONES enhances treasury processes cash and liquidity planning with Serrala
- Industry: Packaging and bottling machinery industry
- Revenue: $5.5 Billion
- Employees: 18,513
- Headquarters: Neutraubling, Germany
Business need
Business need
The KRONES Group is a German packaging and bottling machine manufacturer headquartered in Neutraubling. The company has revenues in excess of €4bn and employs around 18,000 people.
KRONES’s liquidity planning and treasury management challenges
The KRONES Group were embarking on a major business shift – transforming from a filling line supplier into a turn-key solution supplier for packaging and bottling. This kind of change requires a huge upheaval in terms of everything from processes to equipment to organizational structure. And it also requires big changes in the way a company manages money to meet new requirements.
While all this was happening, the business landscape was going through a period of extreme change too. Interest rates were steadily rising, and banks were retiring their old protocols. And increasing operational complexity as a result of all this meant that managing treasury processes and liquidity and cash planning processes could no longer be handled efficiently or accurately by spreadsheet alone.
Solution implemented
Solution implemented
KRONES’s transformation approach: centralized, unified financial operations
KRONES set about retiring their standalone financial management solutions and processes with the intent of standardizing their entire ecosystem within a single SAP ERP. They first came across Serrala when searching for an SAP-integrated payment system to boost efficiency and ease compliance – eliminating redundancies by unifying payments across their HR and ERP systems.
With our solutions, they were able to find an answer to their liquidity, treasury, and payment management challenges in a single, SAP-integrated form. Eliminating risk-prone interfaces and processes, double administration, and opportunities for manual input error. Implementation was fast and cost efficient, with minimal support required from in-house IT teams.
Results achieved
Results achieved
The result – a truly unified, automated approach to all financial processes
Our solution has allowed KRONES to plan liquidity more accurately, more granularly, and more quickly. Criteria can now be set by the Finance department without IT support, making adapting to new realities easier. Intelligent automation also makes handling high payment volumes simpler – along with scaling to meet growing business volumes.
Planning is now much more granular, because the actual data assignment of the solutions allows for plan groups to the level of detail needed. The solution combines the flexibility of Excel with the robust quality of a professional database within SAP. Our payments solution also more than pays for itself, helping the company process payment runs with over 12,000 transactions each week with just a few clicks.
Since they first engaged us in 2007, our progressive updates have helped keep them at the head of the field.
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