Treasury Management Internation Logo

Bosch chooses Deutsche Bank’s electronic ERP integration solution for payments in China

Published 

Deutsche Bank today announced that it has implemented an electronic ERP integration solution for Bosch’s foreign currency and RMB cross-border payments in China.

Headquartered in Germany, Bosch is a leading global supplier of technology and services. The company’s operations are divided into four business sectors –automotive technology, industrial technology, consumer goods, as well as energy and building technology. With more than 360 subsidiaries and regional companies located across 50 countries, Bosch covers 150 countries.

Deutsche Bank’s ERP integration solution enables Bosch to streamline its accounts payables processes in China introducing electronic processing of physical documents and the associated regulatory reporting.

During the implementation process, Bosch was able to seamlessly transfer and consolidate all of its foreign currency and RMB cross-border payments. Its associated regulatory reporting (e-BOP) information to Deutsche Bank is transmitted through electronic transfer of information directly from its ERP system. The integrated process allows the company to benefit from more timely, secure and accurate reporting, and from increased efficiencies with the reduction of time spent on manually filling out forms.

Mahesh Kini, Managing Director, Head of Cash Management Corporates, Asia Pacific, Global Transaction Banking at Deutsche Bank, said: “We are proud to have been chosen by Bosch for this cash management solution in China. Deeply rooted in Germany, our relationship with Bosch continues to expand throughout Asia. This ERP integration solution has helped the company to streamline its payment processes in China without the need for physical document transfer and therefore to save costs.”

Christian Zeidler, Head of Corporate Finance and Regional Treasury for APAC at Bosch, added: “China is an important hub for the Bosch group and we are pleased to deepen our relationship with Deutsche Bank in this country. Deutsche Bank’s e-solution has helped us to have even smoother workflows and address efficiency gains. The automation of regulatory reports and electronic document transfer for our local accounts payable processes helps to significantly reduce potential errors due to manual processing. We look forward to continuing to work with Deutsche Bank globally.”

Most recent episodes

HSBC’s Sibos Spotlight: Investing in the Future – from Diversity to Green Deposits

In the final instalment of HSBC’s Sibos Spotlight, Eleanor Hill (TMI) invites Nadine Lagarmitte and Suraj Kalati (HSBC) to consider how corporates’ attitudes to...

25:12

HSBC’s Sibos Spotlight: The ESG Landscape – what every treasurer needs to know

In the third edition of HSBC’s Sibos Spotlight Podcast series, TMI’s Eleanor Hill invites Farnam Bidgoli (HSBC) to provide an in-depth overview of the current ESG...

16:24

The Path to Transformational Global Cash Visibility

Davina Bradley (CEVA Logistics) and Conor Deegan (CashAnalytics) join TMI’s Eleanor Hill to explore how treasurers can transform their cash visibility and forecasting within their business in a matter of weeks using a...

33:16

HSBC’s Sibos Spotlight: Embedding ESG in Trade and Supply Chains

In the second podcast from HSBC’s Sibos Spotlight series, TMI’s Eleanor Hill speaks to Surath Sengupta (HSBC) about embedding ESG into trade and supply chains....

20:58

Lost in Transaction: Overcoming Payments Pitfalls

From simple errors to duplicates, fraud and sanctions violations, there are a number of areas where payments can go wrong – especially in the real-time environment. In this podcast, TMI speaks to Andrew Ferrao...

34:25

HSBC's Sibos Spotlight: Central Bank Digital Currencies

The first edition of HSBC’s Sibos Spotlight series sees TMI’s Eleanor Hill joined by Mark Williamson and James Pomeroy (HSBC) to discuss the hot topic of Central Bank Digital Currencies (CBDCs). Our guests discuss...

25:48

Payments Vision 2025: The Inside Track

Wim Grosemans, Steven Lenaerts (BNP Paribas) and Wim Raymaekers (SWIFT) join TMI’s Eleanor Hill to outline their vision for the payments landscape in 2025. Our guests consider how recent developments such as instant...

28:21

Stepping Out from the Shadows

“Treasurers needs to step out of the shadows and into the sunshine in terms of their strategic contribution.” claims Zitah McMillan, Co-Founder and CEO, Predictive Black. In this podcast, hosted by TMI’s Eleanor Hill, our guest declares that the...

16:54

Why the ‘One Size Fits All’ Approach is Outdated - A Cash Segmentation Treasury Masterclass

With the ongoing low interest-rate environment and increasing regulatory change, it’s more important than ever for treasurers...

23:55

Instant Payments: Instant Rewards

TMI’s Eleanor Hill sits down in the virtual TreasuryCast studio with J.P. Morgan’s Global Head of Real-Time Payments, Cyrus Bhathawalla, to discuss how treasurers can capitalise on the evolving nature of real-time payments. Our guest contemplates the elements...

23:55