Biesterfeld simplifies its complex global operations with a centralized treasury management system. Financial data and processes for subsidiaries in 50+ countries are connected and done in one place.

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Company Overview

The Biesterfeld Group is a leading distribution and service company for plastics, rubber, and specialty chemicals.

Headquarters

Hambourg, Allemagne

Employees

1,000 - 5,000

Website

biesterfeld.com/

Value as a service

95 %

Better Cash and Supplier Visibility

70 %

Reduction in Banking Groups

3 Hours

Saved in Manual Work Every Day

Challenges

A decentralized treasury system meant the company only had visibility into two of its fifty subsidiaries.

The use of multiple systems resulted in a time-consuming collection and reconciliation process.

With so many subsidiaries, the list of banking groups grew larger and created additional costs.

Solutions

Treasury & Cash Management

Results

Consolidating systems and moving all subsidiaries’ accounts to one platform increased global cash visibility by 95%.

Automating transactions, EMR processing, payments, and other tasks saves the Treasury team over three hours daily.

Completing all treasury activities in one place reduced the company’s number of banking groups by 70%.

"Fraud prevention has been greatly simplified with the introduction of centralized processes. Full visibility into payments and suppliers gives the Treasury Team confidence in the payment process."
— Marie Tack, Head of Group Treasury