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?
DSM introduces new SAP system to optimize international payment settlement
Although DSM’s payment factory offered an exceptionally high level of service, the system was no longer supported by SAP and, to avoid rising maintenance costs, Dutch multinational DSM decided to switch to a new version of the SAP system. With 160 business units in 25 countries around the world, as well as new standards for SEPA and SWIFT, the challenge was huge.
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.
“The people who work for IFF are dedicated to taste – they spend their day at work creating, say, a new flavor of soda or dessert,” says Eric Vastenhoud.
Zanders supported IFF in the centralization and optimization of treasury processes and the implementation of SAP Treasury.