Ravensburger AG, the international supplier of games and books for the young, recognized early on the potential of the Single Euro Payment Area (SEPA). To exploit the benefits of SEPA, Ravensburger decided to centralize its corporate workflows, introducing a solution based on Omikron’s MultiCash Transfer.
The new solution is designed to meet the specific requirements defined by Ravensburger. First and foremost, the objective was to build a Payment Factory that can be used across the group, with mechanisms for central controlling, including monitoring the liquidity flows for the entire group. A second key driver was to ensure that payments could be authorized from separate locations, allowing Ravensburger’s international affiliates to play a full role.
On this basis, the existing Electronic Banking systems have been replaced by one consolidated multibanking solution. This system is designed for Straight-Through-Processing and has been smoothly integrated into Ravensburger’s IT landscape. Authorized staff from the group’s divisions and international affiliates are now able to manage payments by browser, using the corporate intranet or the internet.
Due to its international activities, Ravensburger attached great importance to the support of multiple languages, as well as the use of MCFT and EBICS, which are considered to be the most significant standards for bank connections in Europe. An additional benefit of MultiCash Transfer is the option to incorporate bank-proprietary delivery channels, which allows access to banks not, or not yet complying with the latest standards.
Omikron’s specialized all-round services portfolio was a further decisive factor for Ravensburger. The corporate was looking for an active software partner, with a strong emphasis on personal relationship, multi-lingual support, solid experience in the national and international arena and a clear roadmap for future strategy.
"Thanks to a careful planning of our project team and Omikron’s experience in international e-banking, we were able to meet our tight time goals for the implementation of a group-wide Payment Factory", says Andrea Rogait, Head of Corporate Accounting, Taxes, Treasury and Insurance within Ravensburger. "This enables us to reap the rewards of SEPA payments at an early stage."
"The clear operational requirements defined on the basis of Ravensburger’s SEPA strategy were the key to the swift implementation of the solution", adds Gregor Opgen-Rhein, Account Manager at Omikron Systemhaus. "Integrating a bank-proprietary delivery mechanism for the corporate’s main bank allowed the workflows to be further optimized. This delivery channel enables the corporate to conduct electronic business worldwide, in all countries where this banking group offers payment services."