Dansk Landbrugs Grovvareselskab, officially DLG, is a Danish co-operative company owned by Danish farmers. The main business areas are farm supplies, vitamins and minerals, service, and energy. Activities comprise trade in seed grain, grain and other crops, animal nutrition, vitamins and minerals for animal feed and fuel for agriculture. DLG’s principal markets are Denmark, Germany – through subsidiary HaGe short for Hauptgenossenschaft Nord AG – and Sweden, but export across Europe, the Middle East, Africa, and South America also constitutes a large part of the business. The export comprises malting barley, feed grain and bread grain, rapeseed, and rapeseed oil.
The total annual export of crops reaches about DKK 5 billion. The DLG Group has 40 subsidiaries in 18 countries.
In 2019, DLG started to look for a new treasury management system (TMS), as the scalability of the current setup in Treasury had reached its limits, and the Group was seeking further growth. To this purpose, DLG engaged infiniance to assist them on a system treasury selection process. After a thorough selection process, it was decided to go with the cloud based TMS, FIS Integrity.
Following the selection, DLG also decided to engage infiniance to manage the project and execute the implementation as infiniance had gained crucial knowledge about DLG during the selection process – in close cooperation with the DLG Treasury, Finance & IT teams and the vendor, FIS.
The implementation project started in May 2020 and went successfully live in February 2021 after tireless effort by all parties involved.
Among other things the implementation scope covered the following:
- Straight-through integration to market trading platforms for foreign exchange trading
- Daily market data feeds for mark-to-market valuations and accounting
- Integration to SWIFT AL2 for bank statement integration for the DLG Group (and eventually payments)
- Integration to EBICS for bank statement integration for HAGE (and eventually payments)
- Setup of transaction processing (foreign exchange, debt/investments, interest rate swaps, facility management), internal trading, cash reporting, bank statement management, accounting and much more
- Integration for accounting and forecasting with two separate instances of SAP
- Bank statement forwarding to SAP for account reconciliation
With infiniance’s in-depth knowledge of corporate treasury in general, and DLG specifically, combined with our experience and a team of certificated consultants on FIS Integrity, we ensured a successful implementation on the agreed scope, and only with limited deviation to the original budget and planed go-live date.
Contact us today to hear more on how we can help you to a successful TMS system selection and implementation!