ennoxx.banking as central banking solution at Galeria Kaufhof

At so far Galeria Kaufhof used two different banking solutions which were implemented by different departments. Due to the usage cycle of one of the products used, they searched for a central, sustainable and bank-independent banking solution. This solution needed to be multi-client capable, fully automatable and able to map individual authorization structures. Another important aspect was that this solution could be adapted to the individual requirements of Galeria Kaufhof.

About Galeria Kaufhof

Galeria Kaufhof - The European Omnichannel Warehouse: Based in Cologne, the company stands for the tradition and future of the European retail store. Founded in 1879, the company offers its customers an inspiring shopping experience in 96 stores throughout Germany - characterised by quality, service, advice and innovation. The product range, which contains hundreds of thousands of individual items, ranges from fashion, shoes, handbags, beauty to home, sports and toys. The stores in prime downtown locations as well as the mobile and online services complement each other to create a comprehensive shopping experience.

„In view of the usage cycle of one of our banking products, we made the decision to switch to a central solution in future. In addition to providing the technical requirements and support of our processes, ennoxx.banking also fulfils our desire for bank independence and individual expandability.“

Matthias Beinhorn (Head of Accounting at Galeria Kaufhof GmbH)

The starting point

To date, Galeria Kaufhof has used two different banking solutions to process payment transactions. One solution was provided by the previous house bank and was used to process general payment transactions and treasuries. The other solution was provided by the previous owner of Galeria Kaufhof and was used exclusively for processing personnel payments. As neither of the two solutions was able to implement an individual authorization structure, it was impossible to merge the two systems. With the discontinuation of one of the two products and the upcoming usage expiry, it was necessary to have a central, bank-independent solution that would cover all technical requirements and support the existing processes.

The target

By centralizing all payment transactions in one application, it was crucial to be able to map the requirements of the accounting, treasury and human resources departments and to be able to individually control access to data by using detailed authorization structures for individual user groups. In addition, a basic requirement was also that the future solution could handle mass data in order to meet the requirements of Galeria Kaufhof.

In additon to the restriction of access to companies, accounts and functionalities, it is especially important that in the case of personnel payments, the signing users only see a summarized payment overview, while users from the personnel department should have access to all payment details.

In order to optimize and coordinate all banking processes, a direct data exchange between the accounting systems of Galeria Kaufhof and ennoxx.banking via message queues needs to be established. Through this, executable payments as well as account information provided by the banks could be exchanged. In addition, partially automated processes will be fully automated and manual interaction reduced to a minimum. This leads to an increase in efficiency combined with a reduction in the potential for errors and fraud.

Our solution

With the help of ennoxx.banking, we were able to solve the task set to us within a very short time. Through significant cost reduction and automation processes, the workflow could be sustainably optimized:

• Use of ennoxx.banking as central banking solution for the accounting, treasury and human resources departments
• ennoxx.banking as interface between the internal accounting systems and credit institutions via direct connection via message queues and ennoxx.FileExchange
• By using the cloud variant of ennoxx.banking: independence from the customer's internal infrastructure, fail-safe due to redundancy and location-independent use on any end device
• Increase Straight-Through Processing (STP), data protection and data confidentiality
• Migration and centralization of the two banking solutions used to date in one central solution
• Reduction of administrative and contractual expenses
• Extensive authorization structure for the differentiation of companies and accounts as well as in particular for the processing of personnel payments
• User-friendliness thanks to a Responsive UI that adapts to the possibilities of the end device used
• Reduce the number of users who need access to the program by automatically sending reports via email
• Automation of Distributed Electronic Signatures (VEU)
• Bank independence and individual expandability