Case Study: Evonik Industries achieves global accounting automation and higher data quality with SAP

Evonik Industries Leading beyond chemistry to improve life, today and tomorrow

Evonik Industries, a global specialty chemicals company, wanted to increase the digitalization of financial communication and automate accounting processes that were still handled outside its ERP system, including manual work in Microsoft Excel and multiple data sources. The goal was to improve efficiency, governance, and the quality of global financial reporting using SAP Account Substantiation and Automation.

SAP implemented SAP Account Substantiation and Automation, including journal entry and transaction matching options, to standardize reconciliations and journal-entry processing through digital workflows. As a result, Evonik achieved a 71% automation rate for reconciliations, expects to post 80,000 journal entries efficiently per year, and rolled out the solution to 700 users, improving transparency, data quality, and trust while reducing effort and risk.

Evonik Industries

Florian Insam

Global Process Owner General Ledger