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Sun Chemical, a $3.5 billion supplier of printing ink, pigments and other specialty chemicals in Parsippany, N.J., ambitiously moved from 150 disparate systems to a single enterprise-wide application of SAP, went from 69 banking relationships to just one, and consolidated treasury activity into a single global cash operations center, all at the same time.

With all the SAP functionality available, including treasury and risk management modules, the company set some lofty goals. Consolidate business with one bank to achieve maximum efficiency and lower fees. The choice was Citigroup Global Transaction Services. Then, as advised by consultancy e5 Solutions Group, improve AP and AR automation across the enterprise. Build an efficient liquidity structure. Improve internal controls, which included bringing an outsourced shared services center in-house. To craft a global cash operations center, treasury methodically merged regional operations into one center in Cincinnati. With one bank, one template and one cash operations center, huge payment files could move through host-to-host connections.

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