Drive smarter spend strategies with AI
See what exceptional performance looks like and learn how to close the gaps.
Get the Benchmark Report
Analytics Agent
Learn how to find answers to your analytical questions with the Analytics Agent.
View use case
Knowledge Agent
Learn how to find answers to your procurement-related questions with the Knowledge Agent.
View use case
Supplier Assistance Agent
Coupa Navi™ CSP Supplier Assistance Agent assists suppliers with general questions about the Coupa Supplier Portal (CSP) based on the Compass documentation.
View use case
$10 Trillion and Counting...
Our unique data takes our AI capabilities to the next level
Explore Coupa
AI
Drive smarter spend strategies with AI
The Total Spend Management Annual Benchmark Report
Drive smarter spend strategies with AI
See what exceptional performance looks like and learn how to close the gaps.
Get the Benchmark Report
$10 Trillion and Counting...
Our unique data takes our AI capabilities to the next level
Explore Coupa AI
Biesterfeld Gains Control of Global Cash Flow with Coupa
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.
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
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
