Design and implementation of a global payment platform for a German premium car manufacturer
German Premium Car Manufacturer
Objectives of the project
BearingPoint assists a German premium car manufacturer in the restructuring of its international payment processes and further supports in the implementation of a global payment platform, aiming to standardize and improve the effectiveness of its firm-wide payment processes. The solution will ensure a global and centralized liquidity management.
Measurable & concrete results
- Reduction of the number of local bank accounts and selection of only a few global banks.
- Introduction of an internal payment process for intra-group payments to increase effectiveness of intercompany reconciliation and netting.
- Lower transaction costs through the implementation of a centralized payment process for external payments optimizing payment schedules and routes.
- Centralized cash management and liquidity planning significantly improves the use of the group-wide available liquidity.
Key success factors
- Definition of target processes, design and implementation of software solution in close cooperation with business and IT department
- Integration in current system landscape
- Adherence to compliance regulations
- Hands-on training of employees
- Early engagement of local management
- Identification and coordination of project dependencies