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How a Leading Chemical Manufacturer Automated Cash Flows Leading To Enhanced Visibility in Just Weeks

Sep 24, 2020 | 12:00 AM12:00 AM CDT
Online
Included with membership

Automa­tion allows for oppor­tu­ni­ties for effi­cien­cy, espe­cial­ly at large com­pa­nies. One orga­ni­za­tion, a $1.3 bil­lion U.S.-based man­u­fac­tur­er of nylon 6 resins, chem­i­cal inter­me­di­ates, and fer­til­iz­ers imple­ment­ed automa­tion to bring about busi­ness trans­for­ma­tion across the enter­prise. The trea­sury depart­ment was going through a rough phase pri­or to intro­duc­tion of cash and liq­uid­i­ty fore­cast automa­tion. Some of the major road­blocks the orga­ni­za­tion faced were unor­ga­nized data, inac­cu­ra­cies in cash flow fore­cast­ing, along with the reliance on man­u­al cash mon­i­tor­ing and report­ing. Addi­tion­al­ly, there was lim­it­ed vis­i­bil­i­ty to cus­tomer col­lec­tions and dis­pute man­age­ment due to lack of case approval work­flows and the use of man­u­al email com­mu­ni­ca­tions. To tack­le the sit­u­a­tion, the orga­ni­za­tion refined its SAP envi­ron­ment with improved strate­gies and advanced technologies.