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Bayer’s Strategic Migration to SAP S/4HANA and the Integration of Trintech’s Cadency Platform for Enhanced Financial Close Efficiency

Key Takeaways

⇨ Bayer aimed to streamline its financial processes by implementing Trintech's Cadency Platform as part of their migration to SAP S/4HANA, addressing sustainability and compliance issues that arose from their previous self-developed solution.

⇨ The implementation focused on maintaining compliance, transparency, and comprehensive workflow management, ensuring that all financial processes had defined approvals and could integrate with non-accounting departments like ServiceNow.

⇨ Bayer's strategic migration to SAP S/4HANA included a unified template for their ERP systems, division-specific features where necessary, and a phased roll-out plan to accommodate country-specific requirements, aiming for a full implementation across approximately 90 countries within 4-5 years.

To streamline finance during its SAP S/4HANA transition, Bayer adopted Trintech’s Cadency in 2020 to boost compliance and efficiency in reconciliation processes.

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Bayer, a global leader in the life sciences industries, has always been at the forefront of innovation and emerging technologies. In 2019, Bayer began initial conversations around migrating to SAP S/4HANA which prompted them to start evaluating the financial solutions they had in place. “Our previous solution was self-developed and integrated with SAP through custom ABAP programs, tables, and a WebDynpro UI,” said Marc-Oliver Deinert, from the GPO General Ledger Team at Bayer. “Managing manual work on disparate solutions on each system led to increased workload and complexity that wasn’t sustainable for our team long-term. It became clear very early on that our self-developed solution would not scale with the migration to S/4HANA which is where our conversations with Trintech began.”

 

With an initial focus on streamlining and standardizing their balance sheet reconciliations, Bayer decided to implement Trintech’s Cadency Platform in 2020. “One of the main reasons we decided to implement Cadency was because it is a holistic platform that can address the full financial close process, including journal entries,” continued Deinert. “Our external auditors had heightened their scrutiny on manual journal processes (like a documented 4 eyes principle and audit trail for content and formal aspects including ICS), increasing our need to deploy a more robust and compliant solution. Additionally, cost pressures reduced our flexibility to develop and maintain self-developed solutions, making it imperative to find an effective and efficient alternative solution,” continued Deinert.

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