Photo of Dirk Schreiber and Gabrijela Dadic, Fresenius.
Fresenius required a payment factory and a payment processing platform which is fully integrated with its various ERP systems and also provides security and compliance.
Head of Group Treasury
Fresenius is a global healthcare group offering high-quality products and services for dialysis, hospitals, and outpatient treatment. With over 250,000 employees in more than 100 countries around the globe, and annual sales exceeding €25bn, Fresenius is one of the world’s leading healthcare companies.
Bank relations consolidated first, then comes payment factory initiative
Fresenius required a payment factory and a payment processing platform which is fully integrated with its various ERP systems and also provides security and compliance. The key drivers on the path to efficiency within Fresenius’ treasury operations were an IT strategy and compliance and shared services centres in relation to a payment factory.
Fresenius is a global player with significant complexity in its banking and finance landscape. The project itself breaks down as follows, and contains a focus on compliance, best practices in payments optimisation and efficiency in treasury:
Roll-out schedule: October 2016 to December 2019.
Twenty relationship banks.
1,100 bank accounts.
300 legal entities.
Twelve SAP systems (including test environment).
Integration of SAP in-house bank.
Best practice and innovation
This project is significant in scope and complexity. Fresenius demonstrated inter-disciplinary and inter-cultural cooperation between external and internal stakeholders such as shared service centres (SSCs) in Europe, Asia and Latin America. Global internal and external IT initiatives were used to standardise SAP functionalities within the business segments of Fresenius (templates for payment run, import of electronic bank statements), finance and IT colleagues of their local subsidiaries worldwide (retained organisation) being responsible for local cash management, bank partners, legal and tax teams, TIS as their service provider and also the central treasury team. The project was intensively led by four people alongside their daily cash management activities and other treasury responsibilities.