ELG Haniel uses TIS Cloud-Platform for Payment Processes

The globally operating company from the steel industry chooses the cloud-based platform by TIS (Treasury Intelligence Solutions GmbH) for bank account management, payments, bank statement management and financial analysis.
By: Treasury Intelligence Solutions GmbH
NEU-ISENBURG, Germany - March 24, 2020 - PRLog -- ELG Haniel is a global leader in the trade, processing and recycling of raw materials for the stainless steel and high-performance industries. Recently, the company adopted the cloud-based payment platform by TIS. With it, ELG has a tool to centrally manage bank accounts and payments as a Payment Factory for its 50 locations around the world. The company was established in 1962 as Eisenlegierungen Handelsgesellschaft mbH in Duisburg, Germany, where its headquarters still reside. Since 1989, ELG is part of the Franz Haniel & Cie GmbH. With a yearly revenue of 3.5 billion euros, it is one of the largest family-equity companies in Germany.

Previously, ELG worked with an external software vendor to organize its international payment transactions. The vendor, however, had difficulties with providing some of the payment formats that were needed. As a result, ELG's IT department and Treasury team had to develop the missing formats themselves.

"After two years we decided to change over to TIS' cloud-based platform," says Christian Riha, Head of Treasury at ELG. "TIS is the best partner for companies with a variety of international payments needs." With its seamless ERP integration, connections to many banks and an extensive library of payment formats, TIS could offer ELG the solution that best fit its needs. The company acquired the full solution suite from TIS including Bank Account Manager, Bank Transaction Manager, Bank Statement Manager and Business Discovery Manager.

The new solution connects a variety of ERP systems with 85 accounts from 32 banks around the world and forwards payments directly to them. With the new payment platform, ELG Haniel can centrally organize its bank communication, statements and payments with all financial institutions worldwide from a single point of contact.

About TIS:
TIS (Treasury Intelligence Solutions GmbH), founded in Walldorf, Germany in 2010, is a global leader in managing corporate payments. The Financial Times named TIS as one of "Europe's Fastest Growing Companies" for 2019 and 2020. Offered as Software-as-a-Service (SaaS), the TIS solution is a comprehensive, highly scalable cloud platform for company-wide payments and cash management. The TIS solution has been successfully used for many years in both large and medium-sized companies, including Adecco Group, Hugo Boss, Fresenius, Fugro, Lanxess, OSRAM and QIAGEN. More than 25% of DAX companies are already TIS customers.
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