Between 2018 and 2025, four major holding groups shared the same need: the Group CFO had to see every company's treasury operations, financial risks and cash flow consolidated in one place. A repeatable model was built on SAP S/4HANA Treasury & Risk Management, SAP BPC and SAP Analytics Cloud.
The client name is withheld at the client’s request.
In multi-company holding structures, running treasury operations on different SAP systems, with different processes and different technologies, makes group-level financial visibility considerably harder. In the projects Montag delivered at four major holding groups between 2018 and 2025, the core need was the same: the Group CFO had to see the treasury operations, financial risks and cash flow of every company, consolidated, through a central structure.
A central Treasury & Risk Management platform was therefore designed on SAP S/4HANA. Group companies kept using their own operational systems while treasury transactions were managed centrally; the required accounting entries were integrated into each company's local SAP system. With SAP BPC and SAP Analytics Cloud, a cash flow management and analysis foundation was also built in which actual, planned and forecast cash flows are consolidated at group level.
Group companies running on different SAP systems created a fragmented treasury structure. In some companies treasury was run manually; in others, custom-built screens were used instead of standard SAP functions. At group level, the following became difficult:
The core goal was to bring the financial operations of independently operating companies together under a single central treasury architecture.
The guiding principle was not merely to move operational processes into SAP, but to build a structure in which the Group CFO sees the critical financial information centrally. Through the central system, the following became parts of the same financial architecture at group level:
SAP S/4HANA Treasury & Risk Management sits at the centre of the solution. Companies using different SAP systems were connected to the central platform; the accounting effects of transactions were transferred to the local SAP systems. Existing ERP landscapes were preserved while treasury management became central:
With the central treasury system, the financial transactions of different group companies are managed through a common process and data model. Instead of being run in separate applications company by company, treasury operations run on the central system. While transactions are managed centrally, integration with each company's accounting system is maintained so that financial entries land in the correct company and accounting structure. Operational centralisation and local accounting requirements are thus managed together within the same architecture.
| Actual cash flow | Consolidated view of realised financial movements. |
|---|---|
| Planned cash flow | View of future cash movements based on known financial obligations and planned transactions. |
| Forecast cash flow | Forward-looking cash flow projection based on financial and operational assumptions. |
Data from the group companies' local systems was consolidated and modelled on SAP BPC; management reporting and analysis capabilities were delivered through SAP Analytics Cloud. Management can now analyse the following on a consolidated basis:
The goal went beyond reporting the current state to analysing the effects of alternative financial scenarios. Models were designed to assess the potential impact on group cash flow and financial position under different assumptions:
The solution thus moved beyond a reporting system that shows the past and present to a management tool that supports forward-looking financial decisions. Mark-to-market calculations for financial transactions also started running on the central system, giving the positions of different companies a common data and calculation foundation.
Each holding group had a different organisation, SAP landscape and set of financial processes; the core architectural principle stayed the same: connect local operations to the central treasury platform, manage financial transactions at group level and give the CFO consolidated visibility.
| Business problem | Treasury, risk and cash flow processes run in fragments across different companies and SAP systems could not be consolidated at group level. |
|---|---|
| Solution | A central Treasury & Risk Management platform on SAP S/4HANA. |
| Integration | Two-way operational and accounting integration between the central treasury system and the group companies' local SAP systems. |
| Cash flow | Consolidation of actual, planned and forecast cash flow on SAP BPC. |
| Analytics | Consolidated management view and analysis on SAP Analytics Cloud. |
| Risk management | Central financial positions and mark-to-market calculations. |
| Scenario management | What-if analyses covering FX, interest, financing and cash flow assumptions. |
| Scale | A central treasury architecture implemented at four major holding groups between 2018 and 2025. |
| Outcome | The treasury operations, risk management and cash flows of group companies running on different systems are now managed through a central SAP finance architecture. |
Group companies' treasury operations are now managed through a central SAP S/4HANA Treasury system.
Different local SAP systems were connected to the central treasury platform; the accounting entries of central transactions are integrated into the local systems.
Group companies' cash flow data was consolidated; actual, planned and forecast cash flows can be analysed together.
Management reporting was built on SAP BPC and SAP Analytics Cloud.
Forward-looking financial analysis became possible through what-if scenarios.
Mark-to-market calculations started running on the central treasury system.
A common platform now gives the Group CFO a consolidated view of treasury, risk and liquidity.
Central treasury operations, FX and interest rate risk management and limit control. Manage intercompany funding and liquidity planning in a single architecture.
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