Financial Technology

Page 1 of 3

Better Information - Better Decisions In 2008, Celesio AG Head Office used an accounting software that was becoming outdated, and a TMS that did not support increasing reporting requirements. We document the company's move from two stand-alone applications to an integrated SAP solution.

Better Information – Better Decisions

by Andreas Sowa, Head of Corporate Treasury, and Martina Schade, Corporate Treasury Specialist, Celesio AG

In 2008 Celesio AG Head Office used an accounting software, which was coming towards the end of its life, and a treasury management software that did not support the increasing reporting requirements for example connected to IFRS 7. We decided to move from these two stand-alone applications to an integrated SAP solution.

Celesio AG implemented its first treasury management system (TMS) in 2004 when the group-wide financing and hedging tasks were concentrated at the head office and in our Dutch finance vehicle, Celesio Finance B.V. This TMS was a stand-alone solution, as was the accounting software used at that time at the head office. The interface between these two systems was a daily paper trail. Even though we started to leverage further possibilities such as the download of deal data from 360 T, we realised that this TMS was not able to cover our increasing risk management and reporting requirements.

The task

In line with a group-wide software standardisation we decided to opt for an integrated SAP solution. Our majority shareholder had recently implemented the same solution at its head office, which allowed us to start the project with a copy of their existing system. This initially saved a significant workload and shortened the learning curve, as we could build on experiences made by our colleagues.

Next Page   2 3 

Save PDFs of your favorite articles, authors and companies. Bookmark this article, or add to a list of your favorites within mytmi.

Discover the benefits of myTMI

 Download this article for free