Ennovi is taking trade compliance to the next level
Together with AEB, leading precision manufacturer Ennovi overcomes challenges and achieves efficiency for restricted party screening integrated into SAP®.
Challenge
"The ideal situation is to have standardized ERP and CRM systems, all talking to one another. With an automated compliance screening solution at the core of the system landscape. But we wanted to reduce manual efforts and optimize restricted party screening before the final ERP and CRM rollouts. So, we needed a screening solution that would easily integrate with all of them."
Robert Severino, Director for Finance Business Process Optimization, Ennovi
When Ennovi was acquired by Blackstone, the world’s largest alternative asset manager, it prompted a comprehensive reorganization of the company’s structure, systems, and processes. These measures fueled Ennovi’s mounting challenges to efficiently manage compliance screening for its continuously expanding database of more than 50,000 records of suppliers, vendors, and customers in an increasingly dynamic sanctions landscape.
Teams relied on manually cross-referencing sanctions lists for each business partner – a time-consuming and error-prone process. An initial attempt to improve the situation with a basic screening tool failed to meet expectations for accuracy, speed, and cost-effectiveness.
Challenges were amplified by Ennovi’s highly fragmented IT environment, with disparate ERP and CRM platforms creating data silos and a lack of transparency. To harmonize the system landscapes and establish data consistency, the company decided to move all ERP systems to a uniform SAP® environment. They embarked on a multi-phased migration project within their global network, aiming to complete the move to SAP S/4HANA by 2027. Concurrently, all CRM applications are transitioning to Microsoft Dynamics 365.
To meet their high trade compliance standards without delay, Ennovi decided to launch the optimization of their sanctions screening processes in parallel to the ongoing, large-scale ERP and CRM migration, which kicked off the solution search.
Ennovi was looking for a reliable partner with a robust, scalable, and future-proof trade compliance solution. AEB with its Compliance Screening software ticked all the right boxes. The cloud software was seamlessly integrated into Ennovi’s SAP ERP system, enabling automated compliance checks for new and existing business partners.
By implementing the AEB solution as a central compliance screening platform, it eliminated redundant data entry, minimized manual work, and enabled real-time batch processing of vendor and customer master data. For non-SAP address data, Ennovi’s team is running ad-hoc file checks as needed. The AEB Compliance Monitor provides central access and allows quick decisions on any sanctions list matches.
AEB’s solution offers flexibility, allowing Ennovi to handpick the sanctions lists they need – now and in future. To start, the company selected a range of restricted party list from the EU, US, UK, and United Nations, ensuring up-to-date regulatory compliance.
The solution integrates smoothly into Ennovi’s existing SAP system landscape and its phased IT upgrades, including the transition to SAP S/4HANA and Microsoft Dynamics 365. Its cloud-based design also provides easy access from any location.
The implementation required minimal configuration and IT resources from Ennovi. The teams’ quick adoption of the intuitive solution was supported by AEB’s extensive training and effective project management.
Result
The implementation of AEB’s Compliance Screening yielded significant benefits for Ennovi, transforming their compliance processes and paving the way for enhanced compliance management across Ennovi’s global network.
Automated compliance checks streamlined workflows, reducing the time required for sanctions screening and improving accuracy. Employees, once burdened with labor-intensive manual tasks, are now able to focus on value-adding tasks, enhancing overall productivity.
The solution’s centralized platform provides a “single version of the truth,” with all compliance records accessible in one system, ensuring consistency, logging of all check results, and simplifying audits. Ennovi can now perform real-time checks for new business partners, maintaining regulatory compliance across global sites.
Regular content updates of the AEB solution and advanced features, such as defining restrictions for specific locations on a very granular level down to the postal code, prepared Ennovi for the complexities of today’s geopolitical landscape, where territories may be claimed by more than one country and regulations change frequently.
These advancements support Ennovi’s reputation and position as a leader in trade compliance excellence. The company is also looking into expanding solutions for future trade compliance enhancements – in the area of restricted party screening but also for export controls and license management with AEB – to further strengthen its compliance program.
"AEB understood our requirements and had a powerful standard solution that was straightforward to implement. Very little configuration was needed – the systems were able to speak with each other, with very few technical set-ups. And being a very lean organization, optimization of resources is vital for us. As and when we are migrating to S/4HANA, AEB’s Compliance Screening is ready for it."
Robert Severino, Director for Finance Business Process Optimization, Ennovi
Step up your trade compliance management
About ENNOVI
Ennovi, established in 1958, is a leading global precision manufacturer specializing in mobility and medical solutions. With 14 manufacturing sites and 4 R&D centers worldwide, the company focuses on sustainable innovations, particularly in the electric vehicle sector. Headquartered in Singapore, Ennovi employs over 8,000 people and partners with OEMs to deliver end-to-end solutions from R&D to production.