Cash Flow Automation Best Practices. PCTA, Warsaw,

Transcription

1 Cash Flow Automation Best Practices PCTA, Warsaw,

2 Identified Market Drivers Changing role of finance organization Transparency of processes Data security and secure processes Risk management Automation to improve efficiency Standardising (SEPA) Centralising processes for better control Optimising Cash Flows

3 Source: EuroTreasurer, Treasurer Panel, 26 SEP 2012

4 Itella Information Part of Itella Group Pan European Financial Process Automation Company Net sales MEUR (Group) 270 MEUR (Information) Personnel 29,000 (Group) 2,300 (Information) Operates in 11 countries in Europe Head quarter in Finland 14 subsidiaries in Europe

5 Itella Information Itella Information F&A Services E-services Outbound Services Financial automation Solutions Unique added value to customers

6 Some Performance Improvements Implemented to our Clients 6 [Date] [Presentation name, Author, Company]

7 Problem A huge amount of manual work, complexity of group s liquidity management, enormous number of internal payments as well as external bank accounts. Growth takes place through company acquisitions. Solution Cash management processes and group s general efficiency were improved by centralizing liquidity management operations to group s Treasury department Group Treasury serves the group units through an in-house bank, which enables a certain flexibility in change situations. Consequently, the foreign units leapfrogged forward In payments, SWIFTNet connection offers flexible use of banks. The independent OpusCapita solution is well-suited for us, because it must be easy to integrate the solutuion with new informations systems environment, as the company grows Markus Hänninen, Vice President, Group Treasury SanomaWSOY The biggest media group in the Nordic countries. Operates in over 20 countries. Turnover 2.5 billion. Among the top five magazine publishers in Europe.

8 Problem The Group payment process is locked by bank and country specific solutions, which produce significant transaction costs. Solution OpusCapita delivers a bank connectivity solution, which covers entities in Finland, Sweden, Norway and Denmark. OpusCapita s co-operation with us has been fundamental. When we needed them to ramp up their resources in short notice, they were always very responsive. As for the questions we had, OpusCapita seemed to have most of the answers. Johan Bergqvist, Cash Manager, TeliaSonera TeliaSonera The leading telecommunications company in the Nordic and Baltic region. The company has operations in 18 countries. In 2007, the sales of TeliaSonera were 10.0 billion and the number of employees was

9 Problem Need for a SEPA-compatible, centralized payments solution. Solution OpusCapita delivered a SEPA compatible electronic banking solution to Stora Enso. This was the first Nordic implementation of the new SEPA XML format, and at least one of the first in Europe. In the future, outgoing electronic banking will be handled centrally from the main office s internal bank The pilot units were located in Finland and Sweden Thanks to OpusCapita s strong know-how in international electronic banking and their experience based on operating with various banks, the project implementation has been flexible. Kati Mäki-Karvia, Project manager, Stora Enso Stora Enso One of the world s leading forest industry companies. Its main products include publication and fine papers, packaging board and wood products. K;:_

10 Use Cases 300 users in 110 units, invoices in 19 currencies flow through the system each month. Currency exposure of payments from SEK 54,4 billion to SEK 5,4 billion and elimination thousands of internal payments Number of bank accounts from 244 to 26 and Banks from 16 to savings Reduction in FTE s by 17 Project pay back 2,3 years 44 subsidiaries with diverse ERP s integrated into one middleware Only 30min weekly per unit for data input Deposits of a maximum of SEK and NOK 10 M in cash pools, has been achieved Better liquidity control, reduced costs and a greater focus on cash conversion rates led to reduced borrowing costs Kick-off meeting in august 2008 and implementation March 2009 with 25 units

11 Cash Flow Automation with Payment Factory