Turbulent Economy Underscores the Importance to Protect Liquidity and Profitability Through Harmonized Cash, Liquidity and Risk Management Solutions
BARCELONA, Spain, Oct. 1 /PRNewswire-FirstCall/ -- SAP AG (NYSE: SAP)
today announced that leading edge customers, including Franz Haniel & Company
and Roche, are experiencing unmatched, end-to-end process efficiencies and
improved business performance across the entire spectrum of cash, liquidity,
and treasury and risk management through the deployment of treasury
applications from SAP. The announcement was made at the EuroFinance
International Cash and Treasury Management Conference, being held Oct. 1-3 in
Barcelona, Spain.
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In the wake of the current global credit crisis and volatile commodity,
interest rate and foreign exchange markets, it becomes increasingly
challenging for global businesses to ensure they have access to liquidity
while protecting profit margins, at the same time complying with regulatory
and financial reporting standards. As a result, treasury departments require a
higher degree of visibility and control over the complex, interconnected
processes associated with managing cash, liquidity, investment operations and
risk.
In response, a rising number of global businesses are turning to
comprehensive treasury management software from SAP to ensure healthy cash
flow and adequate liquidity, and protect profit margins from fluctuations in
interest rates, commodity prices and currency exchange rates.
The Haniel Group is an international corporation with more than 50,000
employees and 29.2 billion euros sales in 2007. The company's activities vary
from pharmaceutical trade, recycling and trading of raw materials for the
stainless steel industry, to supply of textile services and washroom hygiene,
to mail order for office or plant equipment. Haniel recently embarked on an
effort to streamline its treasury operations and strengthen its IFRS 7
compliance.
'Our prior IT applications made it very difficult to capture exposure data
from across the company, perform the required stress testing and perform
regulatory reporting,' said Andreas Laroche, executive for Corporate IT, the
Haniel Group. 'No other vendor provides the fully integrated approach that SAP
provides. Our financial reporting and compliance procedures run much more
smoothly and we are in the position by using treasury applications from SAP to
do proper hedge accounting. In addition, the SAP In-House Cash application has
strengthened our liquidity management.'
Haniel deployed the SAP(R) Treasury and Risk Management, the SAP(R)
In-House Cash and the SAP(R) General Ledger applications to provide an
integrated solution that links treasury and core finance operations.
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