Future-proof solution directly connected to SAP: INEOS Phenol has used an independent solution for processing transactions for some time. However, following a change of strategy in the manufacturer’s product orientation, the company was looking for a new forward-looking banking solution. In addition to the requirements covered by its system to date, the new solution was to also cover issues such as a direct connection to SAP, mobile use of the application, a comprehensive permissions structure as well as custom reporting.

Aside from its production of alpha-methylstyrol and cumene, INEOS Phenol is the world’s largest producer of phenol and acetone. The company has been operating successfully since 1952 and now employs some 600 people at five sites worldwide: Gladbeck and Marl in Germany, Mobile and Pasadena in the USA and Antwerp in Belgium.

CDs, car headlights, paints and nylon are just a handful of products which are manufactured using phenol. The acetone produced by INEOS Phenol is used for the production of Plexiglas and polycarbonate as well as for solvents used in chemical reactions in medicine and food production.

„ementexx has succeeded in adapting the complex topic of electronic transactions to the individual requirements of INEOS Phenol. This has helped us work more efficiently and our employees have got used to using the new applications very quickly. ementexx certainly knows how to keep customers happy.“

Matthias Bechmann
(Head of the Financial Accounting Team, INEOS Phenol GmbH)

INEOS has been a fast-growing, dynamic group since its foundation. As a result, the number of group companies to be supported and the volume of transactions carried out have risen substantially over the years – reduced efficiency is therefore a threat to the company’s constant growth. INEOS countered this at an early stage by standardising transaction processes within the organisation and keeping pace with the latest standards in technology and security.

One of the company’s key requirements was implementing its internal security demands. This includes the direct transfer of payment files from SAP as well as the opportunity to limit payments for individual groups of users using a detailed permissions structure. This particularly applies in the field of payroll payments: In this area, different users should only see a summarising overview of payments, while users from the HR department should have full access to all payment details.

In order to optimise and harmonise all banking processes, a direct data exchange should be established between SAP and ennoxx.banking. This would result in no manual input being required in payment orders, as the payment data is directly passed on to ennoxx.banking via the SAP Connector after the payment run. In addition, processes which were previously partially automated should be fully automated and manual interaction reduced to a minimum through technology tailored to fit INEOS Phenol. This would result in boosted efficiency in combination with a reduction in the potential for error and fraud.

With the help of ennoxx.banking, we were able to master the set task within a very short space of time. Substantial cost reductions and automation processes resulted in a sustainable optimisation of the workflow:

• ennoxx.banking operates as the interface between SAP and the bank through our direct SAP Connector
• Boosted straight-through-processing (STP) as well as improved data protection and data confidentiality
• Reduced possibility of manipulation (fraud prevention)
• Migration from the previously used banking solution
• Comprehensive permissions structure, particularly for processing payroll payments
• Internal use of ennoxx.banking via web applications as well as on mobile devices
• User-friendly interface thanks to the familiar online user experience (UX)

Press Release