Posts

Three Basic Principles your Company needs to follow to prevent Payments Fraud

| 20-01-2021 | TIS |

Even the best tech solutions may not help you prevent and detect fraud, if your basic security procedures are insufficient. Based on our experience helping world leading brands set up proper controls against payments fraud, we believe that payment security is a much broader topic than just fraud. Therefore, payment fraud prevention or detection can only be a meaningful exercise when it is an integral part of a company’s overall payment security strategy.

 

Fraudsters come up with new ideas to scam companies all the time. As digitalization transforms the way payments are being made, the risk for cybercrime also increases. Recently, companies have become prey to business email compromise attacks (BEC): Someone will impersonate a high-level manager and tell an employee that due to extraordinary circumstances they need to make a payment right then and there. As the name suggests, this is usually done via email, but fraudsters have become more creative. In some instances, a voice imitation software was used to convincingly fake a manager’s voice on the phone. Because of nefarious scams like this, it is important to raise awareness for security and fraud prevention among your employees.

 

However, fraud is not always an external threat. Often, fraud happens within a company. For big companies it can be a struggle to keep track of all payments that are made across their worldwide subsidiaries – especially, if they are made manually. Unfortunately, fraudulent payments made by employees are usually detected afterwards – if they are detected at all.

It is therefore important to build a payments security strategy that works on all levels. But what does that mean? Where should a company begin?

A good start is to make sure that you have a system where each step of a payment process is visible and well-documented. Remember: Transparency and visibility are the enemies of fraud. You should always have control of all your payments. Standardization of payment processes and workflows is one step closer to better visibility and control. This way, fraud can be stopped before it has even happened. The following three basic principles can lay the groundwork:

1. Segregation of duties

This is a no-brainer. When responsibilities are shared, people can keep an eye on each other. Ideally, every critical payments’ process should involve multiple people or even multiple departments. Suspicious transactions are spotted at once.

2. A single payments’ gateway

Even if your payments are not fully centralized, it is very helpful to have a single payments’ gate. Combined with value-added services such as validation, multi-step authorization and routing, payments can be managed end-to-end. Additionally, centralized data visibility supports internal controls and audit compliance and the monitoring of transactions becomes much easier.

3. Appropriate designation of signature authority

Multi-level approval processes need clearly defined designation of signature authorities. Make sure that your workflows are sufficient and flexible enough to accommodate your company’s needs.

The TIS corporate payments platform has designed many enablers and features for its cloud-based platform to support payment security.  You can standardize and automate your payments processes, enforce segregation of duties, and manage signature authorities from wherever you are.

 

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.

 

 

Executive Briefing: The Next Gen Architecture for a Digital Treasury

07-01-2021 | TIS |

 

Read TIS’ new executive briefing The Next Gen Architecture for a Digital Treasury
and find out how to digitalize treasury with a best-of-breed ecosystem!

 

Leverage the expertise of multiple specialists with seamless API integration and cloud technology. Find out more about:

  1. Advantages of specialist vendors compared to All-in-One solutions for treasury
  2. How seamless data flow through API integration can deliver better user experience and faciliate strategic business decisions
  3. How to set up a best-of-breed solution that is tailored to your company’s treasury needs and future growth

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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Press Release: TIS among growth champions in Germany

| 08-12-2020 | TIS |

The cloud-based corporate payments expert establishes itself on the ranking by FOCUS-BUSINESS and Statista for the fourth time in a row.

Walldorf, December 8, 2020. FOCUS-BUSINESS has recently announced growth champions for the sixth time. For the fourth time in a row, TIS (Treasury Intelligence Solutions GmbH) was in the published ranking among the 500 fastest-growing German companies. Its above-average growth in turnover and staff and its innovative business model were important factors for the ranking.

As in previous years, Statista, the Hamburg-based statistics portal, selected a list of 12,000 German companies from all sectors with a particularly strong growth in sales or workforce in recent years. In April, there was a call for participants and on October 13, FOCUS-BUSINESS Growth Champions published the results. TIS ranking again among Germany’s top 500 fastest-growing companies shows that for mid-sized companies to large corporates, a streamlined and secure global payments strategy is becoming a must. From a technology standpoint, TIS’ cloud-based platform is the leading solution for corporate payments. Looking into the future, TIS will further accelerate its business growth in Europe and in the United States.

“With this year soon coming to an end, I must say that 2020 has been characterized by extraordinary challenges,” says Joerg Wiemer, co-founder and Chief Strategy Officer at TIS. “The concept of ‘Working from Home’ has highlighted the importance of digitalization. The current situation has made the decision makers in companies realize that cloud-based solutions are not only indispensable for business-critical processes such as payments, but the automation and standardization enabled by such solutions also boost efficiency and enhance security for these processes.”

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.

www.tis.biz

 

 

Press Contact:

Treasury Intelligence Solutions GmbH

Liang Fang

Altrottstraße 31

69190 Walldorf

Germany

 

If you want to know more about TIS, visit www.tis.biz

Read the complete press release also here

 

 

Miltenyi Biotec standardizes corporate payments and bank management with new payments platform

| 10-11-2020 | TIS |

Globally operating biotech company consolidates its banking landscape and creates more transparency and security in finance and international payments with TIS (Treasury Intelligence Solutions).

Walldorf, November 10, 2020. Miltenyi Biotec, headquartered in Bergisch Gladbach, Germany, has selected the TIS payments platform to manage all its bank accounts, bank statements, payments and conduct detailed financial analyses. The decision for TIS was made after thorough market observation. Its usability, high security standards, and effective SAP integration clearly stood out.

Miltenyi Biotec has grown steadily in recent years, especially in international markets. The company was founded in 1989 in Bergisch Gladbach, Germany, and specializes in products and processes for cellular research and cell therapy applications. Today, it has more than 3,000 employees worldwide, with 700 employees in research and clinical development. Miltenyi Biotec distributes its products through direct sales in 28 countries. The company’s ongoing growth, increasing number of affiliates, banking partners and accounts led to a need to standardize the company’s finance processes and to make them more efficient.

Besides accounts and payments consolidation, the company also wanted to make its payment processes more professional. In Germany, payment processes were structured with the Treasury Management System. Internationally, however, subsidiaries and affiliates used SAP and other ERP systems for payments and connected to banks via different online banking tools.

Daniel Pier, Group Leader Treasury at Miltenyi Biotec: “For our renewed banking landscape we looked for a centralized payments platform to make international payments more transparent and secure. With TIS, we can automate and standardize payments and monitor the processes from group treasury whenever necessary. For us, the core value of this solution is to enable us to follow closely the company-wide liquidity status at the push of a button.”

Jörg Wiemer, co-founder and Chief Strategy Officer at TIS: “For fast growing companies, it is especially important to manage resources efficiently and meanwhile also ensure security and transparency in corporate payments and liquidity management. With its effective SAP integration and extensive bank connectivity, TIS offers powerful benefits to its customers. We are happy to welcome Miltenyi Biotec, a leading innovator in biomedical research and cellular therapy, to the TIS community.”

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.

Your world of Payments. ONE Login.

https://www.tis.biz

Press contact

Treasury Intelligence Solutions GmbH

Liang Fang

Altrottstrasse 31

69190 Walldorf

Germany

If you want to know more about TIS, visit www.tis.biz

Read the complete press release also here

 

Cashforce unveils software platform + Cashforce NextGen teaser video

TIS and Orchard Finance strengthen their partnership

| 06-10-2020 | TIS |

Both companies see huge opportunities with continuous growth in the BENELUX region.

Walldorf, October 6, 2020 – TIS (Treasury Intelligence Solutions GmbH), a leading cloud-based platform for corporate payments, and Orchard Finance Consultants BV, a leading, independent Dutch consultancy organization in the field of Debt Advisory, Treasury and Staffing, announced today that they have extended their partnership agreement.

Aderito Duarte, Senior Sales Executive BENELUX from TIS: “We are very happy about the collaboration with Orchard Finance and we believe the partnership will further strengthen our positioning in BENELUX to serve the best interest of our customers in treasury and corporate payments.”

Ariane Hoksbergen, Practice Lead Treasury Technology from Orchard Finance, is very excited about the prospect of the partnership: “Orchard Finance is expanding its ecosystem with selected knowledge and technology partners and TIS is one of our technology partners in the field of bank connectivity solutions for corporate treasury. We look forward to strengthening our collaboration!”

About Orchard Finance Consultants BV

Orchard Finance is a leading, independent Dutch consultancy organization in the field of Debt Advisory, Treasury and Staffing. We offer advisory, project management and (temporary) staffing services, tailored to the needs of our clients. Since the start in 2003, we have grown substantially, due to long-term partnerships with customers and well performing employees. Call us today and discover what we can do for you.

https://en.orchardfinance.com/

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.

Your world of Payments. ONE Login.

https://www.tis.biz

Press contacts

Orchard Finance Consultants BV

Ariane Hoksbergen

Tower Athens – 5th floor

Bisonspoor 3002 – A601

3605 LT Maarssen

The Netherlands

Treasury Intelligence Solutions GmbH

Liang Fang

Altrottstrasse 31

69190 Walldorf

Germany

 

If you want to know more about TIS, visit www.tis.biz

Read the complete press release also here

Cashforce is advancing cash forecasting innovation with the launch of its “Cashforce NextGen” platform

| 28-09-2020 | Cashforce | treasuryXL |

Cashforce has announced it is launching “Cashforce NextGen”, their new software platform, leveraging years of experience in delivering data-driven cash forecasting. With this new platform Cashforce wants to lower the barrier of entry for cash flow forecasting by introducing real-time data processing, a more intuitive user experience, enhanced scenario building capabilities and more AI-powered-algorithms. Cashforce NextGen will be launched in Q1 of 2021.

“Through years of experience in cash flow forecasting at organizations with various complexities, we’ve learned that the perfect solution should be able to adapt to the client’s maturity in order for them to scale their cash flow forecasting process at their own pace,” says Cashforce CEO Nicolas Christiaen. “Our NextGen platform will allow global & local users to start forecasting using an easy workflow and then perfect their process gradually using system integration capabilities, real-time data processing and smart alerting functionality. Simply said, Cashforce NextGen will deliver a swiss army knife for modern day cash forecasting.”

Current Cashforce users are also excited about the upcoming NextGen platform. “Thanks to Cashforce, we are able to analyze a lot more data at a higher quality than we had ever been able to before,” says James Kelly, Group Treasurer at Pearson. “Cashforce boosted our cash forecasting process with AI-powered algorithms and scenario-building capabilities generating significant savings in annual borrowing. With the NextGen platform, I’m most excited to use real-time data to improve the accuracy of our scenario models even further.”

The NextGen platform is being built in conjunction with clients and prospects (through an Early Adopter Program), top-tier treasury advisory firms and global cash management banks. The first rollout is scheduled for early 2021. Find more info on Cashforce NextGen and its launch!

 

About Cashforce        

Cashforce is a Cash Forecasting & Working Capital Analytics platform for corporates, focused on analytics, automation and integration. Cashforce connects the Treasury department with other finance / business departments by offering full transparency into its cash flow drivers, accurate & automated cash flow forecasting and treasury reporting. The platform is unique in its category because of the seamless integration with numerous ERPs & banking systems, the ability to drill down to transaction level details, and the intelligent AI-based simulation engine that enables multiple cash flow scenarios, forecasts & impact analysis.

 

Best-of-Breed Providers Cashforce and TIS Form Alliance to Help Companies with an End-to-End Cash and Payments Solution

| 16-07-2020 | TIS |

Walldorf, July 16, 2020 – Cashforce, a ‘next-generation’ cash forecasting & working capital analytics company and TIS (Treasury Intelligence Solutions GmbH), a leading bank connectivity & payments provider, announced today that they have formed a strategic alliance. This collaboration provides a unique solution for corporates requiring a rich cash forecasting and payment experience with seamless integration to their banks and their enterprise systems such as ERP and TMS.

With universal ERP connectivity a common strength, the pairing of Cashforce’s strength in cash forecast modelling and working capital analytics together with TIS’ global bank connectivity and payment capability provides corporations a highly flexible solution to adapt to treasury’s changing needs.

“We are very pleased to form this partnership with TIS,” said Nicolas Christiaen, CEO of Cashforce. “Cashforce is unique given its ability to combine working capital analytics with sophisticated (AI-powered) cash forecasting. Partnering with TIS compliments our best of breed approach. The end-to-end solution of our combined products provides a seamless experience from the discovery phase, through implementation to support; exactly the level of integration our clients and prospects are looking for.”

Joerg Wiemer, CSO and co-founder of TIS, is excited about the partnership: “TIS is leading the market in providing frictionless, cloud-based payment solutions to corporate and medium-sized enterprises. I am excited about our new partnership with Cashforce as we continue to follow our best-of-breed ecosystem strategy in cash management. Our API connectivity with Cashforce will bring integration and customer experience to the next level. “

About Cashforce     

Cashforce is a ‘next-generation’ Cash Forecasting & Working Capital Analytics platform, focused on analytics, automation and integration. Cashforce connects the Treasury department with other finance / business departments by offering full transparency into its cash flow drivers, accurate & automated cash flow forecasting and treasury reporting. The platform is unique in its category because of the seamless integration with numerous ERPs & banking systems, the ability to drill down to transaction level details, and the intelligent AI-based simulation engine that enables multiple cash flow scenarios, forecasts & impact analysis.

Cashforce is a global company with offices in Antwerp, Amsterdam, Copenhagen, London & New York and provides cash visibility to multinational corporates across various industries in over 120 countries worldwide.

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.

Your world of Payments. ONE Login.

https://www.tis.biz


Press contacts

Cashforce

Benjamin Bergers – benjamin.bergers@cashforce.com

+32 479 66 27 21

 

Treasury Intelligence Solutions GmbH

Liang Fang – liang.fang@tis.biz

Altrottstrasse 31

69190 Walldorf

If you want to know more about TIS, just visit www.tis.biz

Executive Briefing CFOs in the Firing Line

| 01-07-2020 | TIS |

Government-imposed sanctions on who companies can trade with and how are changing almost daily. At the same time, CFOs are becoming personally responsible for sanctions violations relating to payments – and the size of fines imposed on errant organizations is snowballing.

How, then, can finance leaders tackle these issues to minimize the risk of sanctions breaches, improve payments workflows, and ultimately, avoid severe legal consequences? Our partner TIS offers an executive briefing on this topic. Read more about:

  1. The importance of government-imposed sanctions
  2. What types of sanctions exist?
  3. Pinpointing the risks
  4. Why in-house screening matters
  5. Optimizing the set-up

Download the latest executive briefing from TIS and gain timely insights into this complex topic and an extensive list of legal expert’s recommendations in order to ultimately protect the organization against the financial and reputational damage of a non-compliance incident as well as the CFO from personal liability.

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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Visit TIS.biz website

Download the executive briefing here!

 

Press Release: TIS Raises $20m as Demand Grows for its Leading SaaS B2B Payment Platform

| 27-05-2020 | TIS |

Our Partner TIS (Treasury Intelligence Solutions), a leading cloud platform for managing corporate payments and cash flows, announced it has raised $20 million in additional financing led by Aquiline Technology Growth, an early- and growth-stage fund managed by Aquiline Capital Partners. The round also included participation from existing investor 83North. Aquiline joins previous investors 83North, Target Partners and Zobito. Investment from Aquiline and 83North will be used to continue rapid global expansion.

The company plans to use the new funding to further accelerate product development and to scale operations in Europe and in the US, in order to meet growing international demand. Many globally recognized organizations, including Adecco Group, Bertelsmann, Hugo Boss, Fresenius, Fugro, Lanxess, ManpowerGroup, OSRAM and QIAGEN, already use TIS to standardize and analyze payment flows and to obtain liquidity overview throughout their organizations.

Click on the banner to read full press release.

 

 

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.

Your world of Payments. ONE Login.

www.tis.biz