Walldorf/Willstätt-Sand, August 5, 2019. With the cloud-based, rapidly deployable solution from TIS (Treasury Intelligence Solutions GmbH), ORSAY is replacing the previous mix of solutions of electronic and manual processing of bank files. All bank-related information – accounts, payments, bank statements, signature authorizations etc. – will be managed on the central TIS cloud platform in the future.
ORSAY GmbH with its headquarters in Willstätt-Sand in Baden-Württemberg, Germany is another new TIS customer. ORSAY stands for feminine fashion for young women. The clothing retailer was founded in 1975, has 5,100 employees, operates 710 shops in 34 countries with an online shop. Alongside the Support Center in Willstätt, Germany and a Logistics Center in Breslau, Poland, there are also purchasing offices in Shanghai and Dhaka.
The TIS solution will enable the company to carry out straight-through processing in Corporate Payment through one-to-one connection to any bank via any communications protocol. With the Bank Transaction Manager, payments are made directly from SAP to the connected banks. The module converts the bank files into the required bank format. At the push of a button, the Treasury department receives an up-to-date overview of company’s liquidity and cash holdings. The deep integration of the TIS cloud platform to SAP and its capability to couple with various treasury management systems were the main reasons for ORSAY in selecting their future payment transactions platform.
With TIS, ORSAY creates end-to-end processes between the banks and their internal ERP system and automates payment transactions for all subsidiaries and financial institutions worldwide. Thanks to the efficient signature and authorization management together with the audit trail in Bank Account Manager, the company can also fulfill all the compliance requirements with regards to signature authorizations. Automated workflows with dual control principle ensure that only authorized persons have drawing rights for specific accounts.
Arnaud Barth, Head of Treasury of ORSAY GmbH: “The TIS solution is ideal for our company. All our bank-related information will be managed via the central cloud platform in the future and with TIS we can implement a straight-through processing in corporate payments worldwide. ”
Jörg Wiemer, CEO of TIS: “We are pleased to welcome ORSAY as a new TIS customer. As a TIS member, the clothing retailer benefits from a state-of-the-art, cloud-based corporate payments platform with all the necessary certificates (including ISO-27001 and SAP certification). This means maximum security in international payments.”
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.
Treasury Intelligence Solutions GmbH