CASH MANAGEMENT: ELRINGKLINGER
We established a central point of information, so that treasury effectively acts as the gatekeeper
Matthias John, Corporate Treasurer, ElringKlinger AG
ElringKlinger AG. To this day, the Lechler family, which owns the majority of ElringKlinger AG’s shares, has maintained the tradition established by Paul Lechler of donating a part of its income to charitable causes through the Lechler Foundation.
John reflects on the overall culture of supporting people who face disability and learning difficulty challenges in Dettingen/Erms, where the company has its headquarters. Right across the street from the office is the BruderhausDiakonie. ElringKlinger AG has a business relationship with the workshop to assist disabled people, and the two foundations cooperate on various other projects. “I was born locally, so doing good work at this company is a source of great pleasure, and the company adds a second bottom line through its social responsibility,” he says.
that the finance managers in our local companies come to us first before they approach the banks.
“So, as Treasurer, you are also the gatekeeper and position yourself within the workflow. The role – and that of the treasury department – has grown thanks to central financing and also through compliance with the banks’ know-your-customer processes. From the perspective of project management, which still accounts for 50% of my time, we can respond promptly, as we did when Hungary recently announced changes to its electronic invoicing requirements.”
John also appreciates Deutsche Bank’s FX4Cash, which provides an automated platform for handling global cross-currency payments. The service is, he believes, a “game changer” and something that would be good to have from every bank. “It has
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given us full transparency for the first time as we know both the bank fee and the applicable margin,” John adds. “You can’t look at every single FX transaction, but you do want to have a system in place that enables you to know what’s going on. Too often, fees aren’t fully transparent.”
ESG in action With an increasing focus in recent years on corporates’ environmental, social and governance (ESG) performance, ElringKlinger walks the all-round walk, rather than relying on its fuel cell and battery technology to demonstrate a commitment to clean mobility.
The long-standing connection between ElringKlinger and the Lechler Foundation goes back to its founder and his son, Paul Lechler Jr., who in 1928 set up the foundation that now bears his name and – through his trading company – for
And if there is any positive legacy to come from the pandemic, he adds, it is the way in which everyone – and not just the pharmaceutical companies developing vaccines – has worked together in response to the crisis. “You think about your suppliers and you value them. In a time of crisis like this that’s great to see.” He likens the response to a huge chain of people joining hands. “In the end you all want to make a profit, but you are all dependent on each other,” John says, a belief that’s reflected in the Lechler Foundation’s motto that “Doing good brings us together.”
Sources 1
See
https://bit.ly/2ZOiCbN at
europe.autonews.com 2 See
https://bit.ly/3ks9BhR at
elringklinger.de 3 See
https://bit.ly/3uuE0kd at
elringklinger.de 4 See endnote 2
5 See
https://bit.ly/2PdcO9F at
elringklinger.de
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