Walldorf/Hamburg, July 31, 2019. As an electricity supplier in the field of renewable energies, ENCAVIS AG from Hamburg operates in one of the key markets of the future. The company is therefore pursuing a progressive growth strategy, accompanied by a sharp increase in its banking landscape. Reducing bank accounts is not an option because of its business model, but ENCAVIS AG nevertheless wants to be able to make better decisions based on real time cash flow visibility. The company has now set the course for managing company-wide payments, liquidity, and banking relationships with the introduction of the TIS cloud platform.
Encavis AG is a producer of electricity from renewable energies listed in the SDAX of Deutsche Börse AG. The company was formed in 2017 from the merger of Capital Stage AG and CHORUS Clean Energy AG. Its core business is the acquisition and operation of solar and (onshore) wind farms throughout Europe. ENCAVIS plants for sustainable energy generation generate stable returns through guaranteed feed-in tariffs or long-term purchase agreements.
The two locally installed e-banking solutions that were historically developed with separate databases were non-transparent and could no longer meet the business needs. Time had come that ENCAVIS had to reorganize its internal IT infrastructure in the area of account and payment management. As a result, ENCAVIS replaced the e-banking tools with the cloud-based, fast-to-deploy, and scalable solution offered by TIS. Modules include Bank Transaction Manager, Bank Account Manager, Bank Statement Manager, and Bank Discovery Manager. Going forward, all bank-related information – accounts, payments, bank statements, signature authorizations, etc. – will thus be managed on a centralized platform. The result is straight through processing and cash flow transparency. At the moment ENCAVIS prefers EBICS as a bank connection. With TIS it also has the option in the future to establish communication with banks across the globe via SWIFT or Host-to-Host connections.
Marcel Otten, Head of Corporate Finance/Treasury/Insurance at ENCAVIS AG: “The TIS solution ideally supports our massive growth strategy. Thanks to the central provision and access, we can manage our large bank account portfolio with a high level of transparency, even with a relatively small team at the locations in Hamburg and Munich.”
Jörg Wiemer, CEO of TIS, adds: “We are pleased to announce the acquisition of a major German player in the energy sector as a new customer for our solutions. With the TIS cloud platform, ENCAVIS benefits from significantly lower transaction costs, as well as increased visibility and control over liquidity and cash flows. A centralized directory of all existing accounts and payment governance should be mandatory these days, especially for publicly traded companies.”
About TIS
TIS (Treasury Intelligence Solutions GmbH), founded in Walldorf, Germany in 2010, is a global leader in managing corporate payments. The Financial Times named TIS as one of “Europe’s Fastest Growing Companies” for 2019.
Offered as Software-as-a-Service (SaaS), the TIS solution is a comprehensive, highly-scalable, cloud platform for company-wide payments and cash management. For businesses, TIS creates a community of trust and empowers customers to make better decisions with 100% real-time cashflow visibility. Key benefits are lower costs, risk prevention, a higher degree of transparency and fast worldwide roll-outs. For banks and partners, TIS generates growth and revenue opportunities through continuous innovation for better payment experience.
The TIS solution has been successfully used for many years in both large and medium-sized companies, including Adecco Group, BMW Group, Fresenius, Fugro, OSRAM, QIAGEN and Volkswagen Group. 25% of DAX companies are already TIS customers.
The high level of security and deep integration of the platform with existing ERP systems is certified by ISO-27001, SOC 1, SOC2, and SAP.
Enterprise payments reimagined.
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