Dutch company AkzoNobel is known worldwide for its coatings and specialty chemicals for both industry and consumers. As part of a new strategy to accelerate growth and value creation, the multinational decided to spin off its chemicals division. The challenge was to do this in just eight months. How did AkzoNobel’s treasury manage to split its activities into two?
When one of the world’s biggest tobacco companies decided to bring all its entities onto the same enterprise resource planning system, there were some challenges along the way. Zanders brought its expertise to bear, to help design, test and go live with the chosen system – and ultimately make the SAP implementation a success.
The implementation of Owens Corning's new treasury management system
For decades, Owens Corning has been the world-leading innovator of glass fiber technology. Headquartered in Toledo, Ohio, the American company has now expanded to 28 countries on five continents, employing about 15,000 people. With an upgrade to SAP ECC 6.0, the company’s international financial sections are now configured for enhanced efficiency.
launches improved SAP system
When Coca-Cola Hellenic (CCH), one of the biggest bottlers and sellers of Coca-Cola products in the world, implemented SAP in 2008, the treasury team expected great improvements in cash management and financial communication across the 28 countries in which the group operates. The reality was somewhat different, with the implemented version of SAP not interacting in harmony with CCH’s enterprise resource planning (ERP) system, called Wave 1. It was at that point that the newly appointed treasurer, Bart Jansen, decided to re-design and improve the SAP implementation – with help from Zanders.
“Tomorrows answers today”
AkzoNobel, a Fortune 500 company, headquartered in Amsterdam, is the global market leader in paints and coatings and a major producer of specialty chemicals.
It has sales of over EUR 13.8 billion (2009) and over 57,000 employees, operating in over 80 countries. In 2007 Peter van Rood joined AkzoNobel as Group Treasurer, the same year that the Board gave approval for the redesign of the treasury function to return it to a first quartile operator in its peer group of companies.