Revenue
CHF 5.6bn
Employees
7300
Headquarters
Switzerland
Serrala has proven an experienced partner with the integrated solutions and best-practice expertise needed for achieving the process efficiency and the central solution within a future-proof IT infrastructure we aimed for.
Baloise Group is a Swiss insurance company with 7,300 staff, annual turnover of CHF 5.6bn, and operations across Switzerland, Belgium, Germany, and Luxembourg.
Baloise’s business model required robust planning and reporting
Following the financial crisis and its attendant low interest rate environment, insurance businesses like Baloise required increasingly accurate and reliable data to ensure it could guarantee payments to customers. The company had already exhausted the capacity of Excel-based approaches, and required a more modern, fully digitized solution.
Meanwhile, Swiss companies faced another big challenge – the need to migrate their payments systems to standardized XML formats for regulatory purposes. A development that’s being mirrored across the EU now with continent-wide e-invoicing mandates. This meant they required a suite of solutions that could automate, standardize, and demystify all AR, AP, and liquidity planning processes to optimize cash management, all while meeting regulatory requirements.
Key facts:
Baloise’s transformation approach
Baloise required a solution that would offer a single source of truth for their transactions. They initially engaged Serrala thanks to our FS² Payments solution’s ability to manage all outgoing transactions with a simple, transparent process and simple visibility within their SAP ERP.
And then they quickly extended their plans to incorporate further Serrala solutions to leverage their SAP investment and centralize their financial processes within a sinlge ERP system. Allowing them to manage all receivables, cash management, and treasury processes within a single environment enhanced and extended by our solutions.
The results – faster, better data quality and investment security and continuously enhanced and automated processes
Baloise were able to implement our solutions fully within just six months of selection, thanks both to Serrala consulting expertise and detailed preparation across their financial, IT, and other stakeholders.
They’ve been able to create fully transparent processes across payments, receivables, cash management, and treasury. They’ve also achieved some great results with automation – raising cash application automation from 0% to 60% as a first step and facilitating faster payments to customers, central control of all payment authorizations, and achieving full visibility and flexibility of treasury processes with the ability to automatically determine cash reserves and how best to use them to optimize their position, verify counterparty risks, and better protect their position.
Baloise Group is a Swiss insurance company with 7,300 staff, annual turnover of CHF 5.6bn, and operations across Switzerland, Belgium, Germany, and Luxembourg.
Baloise’s business model required robust planning and reporting
Following the financial crisis and its attendant low interest rate environment, insurance businesses like Baloise required increasingly accurate and reliable data to ensure it could guarantee payments to customers. The company had already exhausted the capacity of Excel-based approaches, and required a more modern, fully digitized solution.
Meanwhile, Swiss companies faced another big challenge – the need to migrate their payments systems to standardized XML formats for regulatory purposes. A development that’s being mirrored across the EU now with continent-wide e-invoicing mandates. This meant they required a suite of solutions that could automate, standardize, and demystify all AR, AP, and liquidity planning processes to optimize cash management, all while meeting regulatory requirements.
Key facts:
Baloise’s transformation approach
Baloise required a solution that would offer a single source of truth for their transactions. They initially engaged Serrala thanks to our FS² Payments solution’s ability to manage all outgoing transactions with a simple, transparent process and simple visibility within their SAP ERP.
And then they quickly extended their plans to incorporate further Serrala solutions to leverage their SAP investment and centralize their financial processes within a sinlge ERP system. Allowing them to manage all receivables, cash management, and treasury processes within a single environment enhanced and extended by our solutions.
The results – faster, better data quality and investment security and continuously enhanced and automated processes
Baloise were able to implement our solutions fully within just six months of selection, thanks both to Serrala consulting expertise and detailed preparation across their financial, IT, and other stakeholders.
They’ve been able to create fully transparent processes across payments, receivables, cash management, and treasury. They’ve also achieved some great results with automation – raising cash application automation from 0% to 60% as a first step and facilitating faster payments to customers, central control of all payment authorizations, and achieving full visibility and flexibility of treasury processes with the ability to automatically determine cash reserves and how best to use them to optimize their position, verify counterparty risks, and better protect their position.
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