Treasury’s Technology Overhaul Achieves Global Standardization & Transparency Across Their Banking & Payments Structure
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MAN Energy Solutions is one of the leading manufacturers of engines, machinery and other products and services for the marine, energy and industrial sectors. They are a global company headquartered in Augsburg, Germany.
Today, MAN Energy employs ~15,000 people worldwide. With more than 250 years of expertise in engineering, they are one of the leading manufacturers of engines, machinery and
other products and services for the marine, energy and industrial sectors.
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MAN Energy’s Treasury Challenges
Previously, many Treasury functions of MAN Energy Solutions had been handled centrally by a parent company. This changed, however, in the wake of a strategic business restructuring. According to Andreas Schaich, Head of Treasury at MAN Energy, “A carve-out posed an opportunity to establish Treasury processes that would fit to our organization. One of our biggest challenges with the carve-out was to find a suitable payment solution that could give us maximum transparency. Formerly, it was very difficult to consolidate financial data coming in via individual e-banking solutions, and managing this process created a lot of manual effort on our part.”
Download the full MAN Energy success story below in order to:
- See how MAN Energy uses TIS to eliminate their use of e-banking portals to manage bank accounts and cash reports.
- Understand how TIS helps MAN Energy standardize their global payment processing and compliance workflows.
- Learn how TIS serves as an integrated hub that manages the flow of data and information between MAN Energy’s main ERP and their global bank relationships.