Sany Group is currently ranked among the top 500 companies in the world with a presence in more than 150 countries. Since its humble beginnings in 1989, the company has grown into a global construction machinery corporation with five industrial parks in China, four research and development (R&D) and manufacturing bases in America, Germany, India and Brazil, and 21 sales companies around the world. Currently, Sany employs about 70,000 people cross the 150 regions in which it has operations.
Photo of Andrew P. Reid from Deutsche Bank accepting on behalf of Sany Group with Eleanor Hill.
Sany Group is a global company in the construction machinery industry with a vast product range of concrete machinery, excavator and crawler cranes. Sany employs about 60,000 people in more than 150 countries.
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The fast pace of growth of the company from inception, to the impressive global scale to date, rendered it essential to have centralised and automated treasury and cash management processes to facilitate management control, optimise process efficiency and reduce the possibility of human error by removing manual processing to the fullest extent possible. These objectives were achieved by working closely with Deutsche Bank.
“Deutsche Bank has been Sany’s major banking partner in Europe (Germany, UK, France, Italy, and Belgium) for many years and has provided the European subsidiaries with professional advice, high quality service and innovative solutions to the relevant corporate treasury and finance department when required,” says Dai Shuai, Finance Manager.
The company not only implemented the bank’s unified electronic banking platform, but was also able to leverage its extensive global network and commitment to excellence and service quality.
“With the support of Deutsche Bank’s implementation team, we were able to implement and benefit from a fully automated solution, provided by the bank, for cash management related business. The solution embodies a straight through processing (STP) model for payments and collections to improve the company’s daily operational efficiency,” explains Shuai.
Moreover, via Deutsche Bank’s electronic banking platform, db-direct internet, Sany is now able to efficiently carry out its high volume of payment processes in Europe, from preparation to approval, in a seamless and secure manner. Furthermore, db-direct internet provides the company with centralised visibility over all accounts, as well as centralised access to all the company’s accounts across the globe.
“We were very impressed by the bank’s sales and implementation teams,” says Shuai. “But in addition, we would also like to emphasise that Deutsche Bank’s customer service officers are quick in responding to queries in daily operations, and that their global query tracking mechanism (Q-Track), an integrated real-time global workflow management tool, is a value-added service that, in our view, makes the bank stand out from others.”
Given the success of this joint project, the relationship between Sany and Deutsche Bank has deepened significantly over the past few years. “We look forward to enhancing our co-operation and strengthening our relationship with Deutsche Bank going forward,” adds Shuai.