Industry
Offshore construction and marine engineering
Employees
1200
Headquarters
Leiden, The Netherlands
Considering the scale of the project, we initially anticipated high costs for the implementation, but found that the costs were more reasonable than expected and that the return on investment was high, thanks to the optimal levels of efficiency that we achieved.
Heerema Marine Contractors is a global leader in international offshore oil and gas, managing the entire supply chain of offshore construction. The company is headquartered in the Netherlands with operations in Europe, Africa, APAC, and North America and annual turnover of over €1bn.
Heerema’s payments challenges
Heerema operated a global shared services center to facilitate international payments – functioning both as a payment factory that enabled payments-on-behalf-of (POBO) and an in-house bank.
However, processes within the payment factory were still handled manually – leading to payment delays, errors, and other challenges presenting huge operational risks through damage to vendor relationships.
Key facts:
Heerema’s transformation approach – automate, standardize, optimize
The business sought to automate AR, AP, and treasury processes within its shared services center. In doing so, it hoped to eliminate manual payments as part of day to day workflows and allowing best practices in both global payments and treasury management.
HMC enhanced its standard SAP applications with the help of the consulting services of SymQ – a company of Serrala Group – and leveraged their existing SAP capacity with our FS² Payments solution.
The result – a global payment process and 100% straight-through processing for hedging
With the exception of Angola, Heerema’s payment factory now handles around 95% of global payments at a high rate of automation that standardizes processes across all operating environments and makes POBO flows simple and easily executable.
The solution achieved a good ROI within a short time of implementation thanks to its potential for realizing efficiencies throughout AP and treasury management processes – with hedging now entirely automated throughout the company and its subsidiaries.
Heerema has implemented a unique approach, building on their existing SAP landscape and leveraging additional benefits as a result of Serrala’s SAP-embedded payments solution enabling a powerful payment factory and in-house bank, connecting it globally to SWIFT.
Heerema Marine Contractors is a global leader in international offshore oil and gas, managing the entire supply chain of offshore construction. The company is headquartered in the Netherlands with operations in Europe, Africa, APAC, and North America and annual turnover of over €1bn.
Heerema’s payments challenges
Heerema operated a global shared services center to facilitate international payments – functioning both as a payment factory that enabled payments-on-behalf-of (POBO) and an in-house bank.
However, processes within the payment factory were still handled manually – leading to payment delays, errors, and other challenges presenting huge operational risks through damage to vendor relationships.
Key facts:
Heerema’s transformation approach – automate, standardize, optimize
The business sought to automate AR, AP, and treasury processes within its shared services center. In doing so, it hoped to eliminate manual payments as part of day to day workflows and allowing best practices in both global payments and treasury management.
HMC enhanced its standard SAP applications with the help of the consulting services of SymQ – a company of Serrala Group – and leveraged their existing SAP capacity with our FS² Payments solution.
The result – a global payment process and 100% straight-through processing for hedging
With the exception of Angola, Heerema’s payment factory now handles around 95% of global payments at a high rate of automation that standardizes processes across all operating environments and makes POBO flows simple and easily executable.
The solution achieved a good ROI within a short time of implementation thanks to its potential for realizing efficiencies throughout AP and treasury management processes – with hedging now entirely automated throughout the company and its subsidiaries.
Heerema has implemented a unique approach, building on their existing SAP landscape and leveraging additional benefits as a result of Serrala’s SAP-embedded payments solution enabling a powerful payment factory and in-house bank, connecting it globally to SWIFT.
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