BearingPoint Inc.
10/23/2024 | Press release | Distributed by Public on 10/22/2024 23:12
BearingPoint supported KWS in implementing a centralized treasury platform to achieve full visibility and control of its liquidity, cash, and treasury operations
Amsterdam, October 23, 2024 - KWS is one of the world's leading seed producers and provides innovative solutions to farmers for the propagation and distribution of sugar beet, corn, cereals, and vegetables. The company funds research into a wide range of seeds and provides new varieties each year to its 70-plus subsidiaries worldwide for breeding and distribution.
Operating in 70 countries involves adhering to different financial regulations and managing many currencies. KWS wanted to eliminate the cumbersome procedures of reconciling financial data using a combination of spreadsheets, emails, and manual reviews, as these tasks are often time-consuming and prone to human error.
As a global company, KWS also needs to tailor its funding streams to different seed growth cycles depending on the geographical location of farmers. Consequently, harmonizing its intercompany financing was essential to improve financial stability across its global operations.
Leveraging cutting-edge technology to streamline treasury
After analyzing key criteria such as features, costs, stability, support, security, and scalability, the Treasury Management System (TMS) from SAP was selected as the most suitable solution, tailored to the specific requirements of KWS.
BearingPoint supported KWS throughout the project lifecycle, from requirements gathering and fit-gap analysis to solution design implementation, testing, and the rollout of a centralized data platform.
KWS was already converting to SAP S4/HANA, and the TMS implementation on the new S4/HANA system had to be done concurrently, meaning that the TMS had to be configured to connect and feed both the S/4HANA system and the legacy system with general ledger records for the interim period until the full transition to S/4HANA.
BearingPoint then implemented the core TMS architecture and interfaces. Additional functionalities were customized to meet KWS's specific needs for global payment processing, cash management, accounting, reporting, and dashboards. To ensure a smooth transition to the new system, BearingPoint trained KWS staff on how to leverage the system effectively.
Working closely with KWS, we tailored the SAP Treasury Management System to align perfectly with its global operations and specific needs. Our collaborative approach ensured seamless integration and transition to the new platform, empowering KWS to manage its financial processes more efficiently and accurately. We're proud to have contributed to enhancing its treasury capabilities, giving its people the tools needed to make strategic, data-driven financial decisions.
Alexander Odenthal, Partner at BearingPoint.
Optimized liquidity, cash, treasury, and risk management with real-time cash flow analysis
KWS now benefits from a single point of truth across its global treasury management processes. Automating important functions, such as Forex trading, management of financial instruments, fees and interest calculation, accounting, reporting, and payments, has improved time-to-process and significantly reduced the risk of human error.
The company has greater liquidity transparency by having an accurate overview of financial transactions and bank balances. The full traceability of transactions gives KWS visibility into its accounting operations, enabling easy reporting and a safe audit trail.
With the new Treasury Management System, the company can rapidly adapt to the latest market developments by closing and managing transactions easily. Ultimately, KWS is empowered to make strategic business decisions based on data-driven financial insights.
The Treasury department is a dynamic area in which continuous improvement is crucial. I am passionate about working with my team to constantly drive our treasury department forward. Thanks to the Treasury Management System, we have reached a major milestone in terms of compliance, reporting, risk management and transparency. In addition to the Treasury department, various other departments benefit from the implementation. By using S/4 Hana, the KWS Treasury team is future-proofed for the coming years.
Christian Dahlke, Lead of Expert Hub Treasury and Insurance at KWS.
About KWS
KWS SAAT SE & Co. KGaA is the parent company of the KWS Group. It is a strategic leader and manages the propagation and distribution of sugar beet and corn seed, along with other crops. It finances basic research and the breeding of the variety spectrum of the KWS Group and annually provides its subsidiaries with new varieties for propagation and distribution.
About BearingPoint
BearingPoint is an independent management and technology consultancy with European roots and a global reach. The company operates in three business units: Consulting, Products, and Capital. Consulting covers the advisory business with a clear focus on selected business areas. Products provides IP-driven digital assets and managed services for business-critical processes. Capital delivers M&A and transaction services.
BearingPoint's clients include many of the world's leading companies and organizations. The firm has a global consulting network with more than 10,000 people and supports clients in over 70 countries, engaging with them to achieve measurable and sustainable success.
BearingPoint is a certified B Corporation, meeting high standards of social and environmental impact.
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