Industry
Technology
Revenue
$2bn
Employees
7,500
Headquarters
Westlake, Ohio, USA
We have significantly saved time and costs as cash application and payment processes run much faster than before. We estimate we’ve saved at least 50% of processing time. As all our data and control steps are now fully logged and audited within SAP with the help of the Serrala modules, our documentation is much better – and our internal and external auditors are delighted!
Nordson are a global precision technology company with operations and support offices in 40 countries worldwide. Their global revenues exceed $2bn and they’ve been a component of the S&P 500 since 2022.
Nordson set out to streamline finance processes across its global operations by centralizing all treasury processes within its SAP ERP. With this strategic approach the company sought to address some key issues for treasury. Including poor data visibility and availability preventing accurate and timely tracking of KPIs, a lack of standardization and best practices for banking processes, and fragmented infrastructure and paper-based processes wasting time and introducing unnecessary complexity to compliance and reporting.
The business’s overall objective was to improve risk analysis and control, and to eliminate errors inherent to manually processing data across fragmented global operations and thus more effectively leveraging their global shared services architecture.
Key facts:
Nordson knew from the outset that the right solution for them would be SAP-embedded to provide geographic independence. Introducing a single central platform and source of truth to manage, orchestrate, and monitor all transactions. And also providing the simple dashboarding of KPIs to provide real-time support for business and management decisions.
Serrala was a natural choice for partnering in this project. Our FS² solution family are all SAP-embedded, drawing directly from the ERP’s own database and working within its user interfaces. Nordson chose to implement our FS² AutoBank, FS2 Payments, and FS² CashLiquidity to improve process efficiency, automate manual tasks, and deliver a one-platform solution that eliminated errors and delays caused by relying on multiple static data sources (like spreadsheets).
Overall, Nordson saw cash application automation rates increase by 55% (from 45% to 85%), centralized all payment authorizations (minimizing risks, significantly boosting payment security, and making all payment data available for forecasting instantly across all financial operations), and centralized and consolidated all cash, liquidity, and treasury management functions into a single tool.
Overall, this translates to a 50% reduction in processing time across all financial transactions.
Nordson are a global precision technology company with operations and support offices in 40 countries worldwide. Their global revenues exceed $2bn and they’ve been a component of the S&P 500 since 2022.
Nordson set out to streamline finance processes across its global operations by centralizing all treasury processes within its SAP ERP. With this strategic approach the company sought to address some key issues for treasury. Including poor data visibility and availability preventing accurate and timely tracking of KPIs, a lack of standardization and best practices for banking processes, and fragmented infrastructure and paper-based processes wasting time and introducing unnecessary complexity to compliance and reporting.
The business’s overall objective was to improve risk analysis and control, and to eliminate errors inherent to manually processing data across fragmented global operations and thus more effectively leveraging their global shared services architecture.
Key facts:
Nordson knew from the outset that the right solution for them would be SAP-embedded to provide geographic independence. Introducing a single central platform and source of truth to manage, orchestrate, and monitor all transactions. And also providing the simple dashboarding of KPIs to provide real-time support for business and management decisions.
Serrala was a natural choice for partnering in this project. Our FS² solution family are all SAP-embedded, drawing directly from the ERP’s own database and working within its user interfaces. Nordson chose to implement our FS² AutoBank, FS2 Payments, and FS² CashLiquidity to improve process efficiency, automate manual tasks, and deliver a one-platform solution that eliminated errors and delays caused by relying on multiple static data sources (like spreadsheets).
Overall, Nordson saw cash application automation rates increase by 55% (from 45% to 85%), centralized all payment authorizations (minimizing risks, significantly boosting payment security, and making all payment data available for forecasting instantly across all financial operations), and centralized and consolidated all cash, liquidity, and treasury management functions into a single tool.
Overall, this translates to a 50% reduction in processing time across all financial transactions.
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