One of the leading international technology companies, ABB centralized and harmonized their cash application processing using Serrala’s FS² AutoBank solution for their company-wide “Cash Applied Before Breakfast” project.
Key drivers for the project were to increase transparency of the company-wide cash and to reduce local costs with a solution that was fully embedded within the SAP landscape.
Some of the key improvements ABB achieved:
- Increased automation rates, in some countries from 40% to 90%
- No more maintenance of Excel spreadsheets for follow up of open items
- No more printing of bank statements, receipts, postings
- Reporting by push of a button instead of manual maintaining of Excel spreadsheets
- Enhanced post-processing
With this successful project, ABB has won a highly commended Corporate Recognition Award for Working Capital Management of the TMI Award 2018 for Innovation & Excellence using the Serrala solution FS² AutoBank.
“Our ultimate target is to apply cash before breakfast. This presents benefits to customers as well as giving us more transparency that, in turn, enables our collection teams to be more effective”, says Neil Murray, Group Accounts Receivable (AR) Manager, ABB.
Serrala is a global B2B fintech software company. We optimize the Universe of Payments as we add efficient cash visibility and secure financial processes within all inbound and outbound payments for organizations. Serrala supports over 2,500 companies worldwide with advanced technology, intelligent automation and personalized consulting. Our comprehensive end-to-end portfolio
automates inbound and outbound payment processes as well as the management of related data and documents.
With offices in North America, Europe, Asia and the Middle East and over 600 employees, we are proud to be a trusted solution provider to customers of all sizes and in all industries. Visit serrala.com
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