Tag Archive for: Nomentia

Nomentia Acquires TIPCO: A union of exceptional products and teams

08-09-2021 | treasuryXL | Nomentia |

Nomentia announced yesterday that the company has acquired TIPCO Treasury & Technology. Shortly after the news was released, we had the chance to sit down with Jukka Sallinen, CEO of Nomentia, and talk about the announcement, what does the acquisition promise for finance and treasury professionals globally, and what does the future hold for Nomentia.

The acquisition of TIPCO is the latest milestone in Nomentia’s history. What’s the reason behind the transaction?

There are a couple of reasons. First and foremost, we’ve felt that both companies share a very similar mission. We want to provide unparalleled solutions for and with our customers. TIPCO’s Treasury Information Platform (TIP) is an exceptional treasury management solution that is widely known in the DACH region, and TIPCO has been also famous for its acumen in treasury. Our combined solutions and domain expertise make us one of the strongest players in the cloud treasury and cash management space. I have no doubt that our current and future customers will benefit from our combined product portfolio. Another good reason for joining forces with TIPCO is that we’ve strongly felt that both companies have had surprisingly similar cultures – both have a very healthy obsession for providing the best solutions for our clients and we take pride in what we do.

 

Tell us more about the merged product portfolio and how treasury teams will benefit from it?

Before the acquisition, Nomentia cash management was consisting of Bank connections, Payments, Cash Forecasting, In-house banking, Bank Account Management, and Reconciliation solutions. Adding TIP to the solution mix, we can now provide robust and sophisticated cash flow forecast and cash visibility solutions, as well as solutions for trade finance, FX risk, treasury reporting and treasury workflows, and more. TIP has been always loved by the users and now all Nomentia customers will have access to TIP.

Today, it’s not feasible for treasury teams and finance teams to choose one provider for all their needs or trust that their ERP system would provide a working solution alone. Treasurers should be able to choose the solutions that can best resolve their challenges and meet their needs. To get the best outcome, finance and treasury teams often need to work with multiple vendors – taking the best solution from each. Of course, that’s not always ideal from IT’s point of view, but that’s where our team comes in to take care of the implementation plan together with the client and integrate with their existing systems and banks. We trust that a lot of our current customers will find new solutions from our updated offering that can help them to overcome their current challenges.

New customers will find that Nomentia can offer the widest cash and treasury management solution portfolio on the market to help them build better treasury processes.

 

How does the acquisition affect Nomentia’s future?

During the past year, Nomentia has taken big steps toward becoming the global powerhouse for treasury and cash management. After last year’s merger of OpusCapita and Analyste, we’ve successfully got our footprint in many new markets, and we’ve been especially growing in the DACH and Benelux regions besides continuing to be the number one choice of treasurers in the Nordics. Acquiring TIPCO and merging the two product portfolios will help us to strengthen our position in Europe even more.

Our team has been also growing significantly – it’s always great to work with people that are experts in their field and can truly help our customers to develop their operations. Together, we will exceed our customers’ expectations with our strong product portfolio and even stronger team. Personally, I am thrilled about the news and can’t wait to roll up our sleeves and get to work together with our new colleagues!

 

Read the press release to learn more

 

 

Crisis Management: Why Treasury & Finance are pivotal to recovery

| 26-01-2021 | treasuryXL | Nomentia |

Initiating a crisis management strategy is now top priority for people, businesses and Governments alike. Utilizing and developing survival capabilities is proving challenging for many organisations, including cash flow forecasting and managing risk around major supply chain disruptions.

Diligent Cash Management and scenario analysis are both integral to managing uncertainty during the current crisis but also positioning finance and treasury leaders as pivotal to driving successful recovery planning.


Top things businesses should be concentrating on during the current crisis

Most organisations have a real need to understand what their current liquidity is: today, tomorrow and into the future. Finance and treasury must continue to run the business as best as they can but, to do this effectively, they need to know how much cash they have to work with on a daily basis. Therefore, group-wide, real-time cash visibility and future cash forecasting are crucial – if you don’t have enough liquidity in the business then trouble could be looming on the horizon.

The first step is to figure out what the real cash picture looks like, identify gaps and put the necessary measures and contingencies in place to avoid nasty surprises. Bill payment periods may have to be extended, funding requirements and arrangements revisited, hedging policies re-worked etc but the big picture i.e. cash visibility, is critical.

Cash forecasting comes next in order of priority, gathering a full and concise picture of short-term cash availability is imperative. Maximising business agility with some ‘what if’ scenario modelling may be required, for example: what happens if we don’t get paid a percentage of what we are expecting, what fall back positions do we have on government grants, loan agreements etc. Again, the key driver is knowing your current cash picture now and today, allowing you the best possible position for making strategic, next-step decisions. And the situation is real, a Guardian report, on the 2nd April, states 6 out 10 (60%) UK firms have no more than 3 months of cash left!

Many companies are struggling with cash forecasting, they simply don’t have adequate tools in place. What can they do, right now, given the logistics of remote working?

Thankfully there’s a lot they can do, and quickly. Ensuring whatever systems they have in place for managing liquidity are as automated as possible to enable real time, up to date information access on cash visibility. If automation is a problem or the company is still using traditional manual processes, then change as soon as possible. This is not as difficult as it sounds as many cash management solutions are now available on monthly on-demand payment plans, cloud based and can be installed quickly and efficiently without the need for IT involvement, onsite implementation teams or large upfront fees.

Given the availability of cloud-based cash forecasting solutions, systems can also be accessed remotely so staff working from home can work as efficiently and effectively as if they were operating from their respective office environments.

Actionable advice for post-crisis future planning

Preparedness. Post-crisis analysis will be critical for all organisations. Some will have managed better than others, particularly those who had previously invested in technology upgrades and system automation. Questions around: how well we were prepared, what worked or didn’t work so well, will be food for thought for all business leaders.

But the fact remains technology is absolutely key to maintaining business agility and formulating crisis preparation. Automating as many tasks as possible, in order to provide real-time access to all the data and information needed to make quick and informed decisions, can mean the difference between success and failure. Many organisations will use the time now and post-crisis to reassess technology needs and processes and plan investment in tech upgrades and automation to improve agility, accuracy and efficiency for the future.

Here’s a round-up of some actionable advice for finance and treasury leaders:

  • Know your cash availability today and going forward, focus on: group wide, real-time cash visibility and future cash forecasting
  • Consider bill payment extensions & re-visit funding requirements
  • Cash forecast regularly & consider fall back positions across a range of scenarios
  • Automate as much as possible so you’re benefiting from real-time, up to date information on cash visibility – make those upgrades as soon as possible
  • Cloud-based cash forecasting tools are more affordable and easier to implement than you might think – empower your staff with the ability to work as effectively as required, remotely
  • Reflect on how well you were prepared for this current crisis. What worked and what didn’t work so well
  • Automate as much as possible so that you benefit from real-time, accurate data to enable you to make key decisions as quickly as possible

Information is power, now more than ever.

About Nomentia

Nomentia is a Nordic powerhouse for global cash management. We believe in a world in which businesses can make the right decisions no matter how unpredictable the times are. Our SaaS-based platform offers solutions for cash forecasting and visibility, global payments with bank connectivity, reconciliation, in-house banking, guarantees, and FX dealing. We serve 2,300+ clients in over 100 countries processing more than 200 billion euros annually. Cash is king!

 

 

 

Partner Interview Nomentia | Best-of-breed cash & treasury management solutions

10-11-2020 | treasuryXL | Nomentia |

It has been a crazy year for OpusCapita with a lot of positive changes. OpusCapita recently joined forces with Analyste and merged into Nomentia.

Nomentia is a Nordic powerhouse for global cash management. By believing in a world in which businesses can make the right decisions no matter how unpredictable the times are, their SaaS-based platform offers solutions for cash forecasting & visibility, global payments with bank connectivity, reconciliation, in-house banking, guarantees, and FX dealing. Nomentia currently serves 2,300+ clients in over 100 countries processing more than 200 billion euros annually.

AN INTRODUCTION TO…

 

Meet Jukka Sallinen , Deputy CEO at Nomentia.

Jukka is a cash management domain expert with a strong hands-on background from international and complex payment factory and SWIFT projects. Previously Jukka had been working in various R&D roles, focusing on bank and ERP integrations and security topics.

” We are the bridge between finance and treasury ”

 

 

We asked him 9 questions. Let’s go!

INTERVIEW

1. Nomentia, what is the core business and what is its mission??

Our vision is to create solutions that make the life of modern CFO’s and Treasurers easier. We provide best-of-breed cash and treasury solutions that are the bridge between Finance and Treasury. Best-of-breed means that we focus on challenges that matter for modern CFO’s and treasurers to stay ahead of the curve and help their business to prosper.

We solve the challenges that professionals face in their daily work:

End-to-end & total visibility of cash flows is ever important. By visibility we of course mean visibility to cash flows, bank accounts, payments and future cash flows. But today, visibility is also more and more a risk & compliance related challenge. To whom I am going to pay? How do I mitigate the risk of fraud? Another visibility challenge is the whole topic of working capital where cash & liquidity forecasting & analytics solutions will play a role.

While visibility could be classified as internal challenge an example of external challenge Treasurers are facing is financial crime which is globally a trillion-dollar industry. Payment fraud and cybercrime faced by corporates remains significant and growing problem. To fight back corporates are mitigating these risks by harmonizing bank connectivity & payments into a centralized payment hub.

Finally, finance organizations seeking for return of investments from their Treasury or Finance solutions typically look increasing automation and efficiency in financial processes. Automating & harmonizing bank statement processing and accounts receivable reconciliation (automatic matching) holds typically largest savings potential.

By focusing on these challenges that matter to modern CFO and Treasurers, Nomentia is different. Monolithic finance and treasury systems are not quick and flexible enough to face the challenges of today and thus remain largely un-used.

2. OpusCapita recently formed a new company together with Analyste. What was the main reason for this? 

There is a growing need for choosing best-of-breed cloud solutions to solve particular business challenges today’s organizations are facing, which cannot be addressed by traditional monolithic tools. And treasury and finance organizations are no different. We are in a journey to create a leading cloud native cash management company as one.

3. What constitutes this Nordic powerhouse?

We took the best practices of both companies and combined them into one integrated solution for Finance and Treasury professionals. Nowadays, companies need multiple tools and systems. Is anyone convinced that the trend would go backwards? I mean look at your mobile phone. More apps keep coming and we as consumers add more. As business consumers we don’t want to be different, right?

A modern company needs a sales and customer relationship management, marketing automation tools, billing systems, project management tools, HR systems and various business solutions – and Finance & Treasury are no different. Often at some point we fall into the trap of looking for one platform to solve all challenges. But there never will be one, because we cannot possibly know everything a platform needs to solve to adapt in changing business environment. You end up using only small fraction of such monolithic platform with a very high price tag or building very customized solutions.

4.You talk about best-of-breed, what does it mean and what is the customer benefit?

Now, what does this mean for treasury and cash? A one-for-all solution would be a single solution to solve all your finance & treasury & cash management issues. That at least used to be sort of IT’s dream come true. One can clearly see benefits such as having less systems to integrate or less business partners to deal with. Also, commonly heard argument is to claim you would have “all the data at your hand in one place” which often shrinks into a mere sales argument.

While choosing best-of-breed companies can build network of integrated products and solutions. Benefits are often ones like paying and implementing only what you really need, much quicker implementation time and thus quick payback time, more standard features and no customization and vendor locking. Even the integration – a classical tarpit in IT projects – is often surprisingly simple because best of breed providers works very well together

Treasury or Finance is not an island. It is not the treasury that really is changing but the world around it. How companies are purchasing goods, sales are becoming digital, buying journey shifting to marketplaces and technology and software connecting everyone and concerning almost any business will sure keep changing the work that needs to be done by Treasury and Finance teams. Our claim is that networks and best-of-breed is more adapted to change.

5. How does the customer journey look like from start till end? And how long does a project take?

This really depends on the customers and their needs and how their internal processes look as well. We adjust to our customers’ needs.

6. Can you give us an outlook on the product developments that are scheduled?

The most important achievement is that we’ve now released our first versions from next generation Nomentia products that are based on a modern cloud architecture. We have been working on for the last four to five years to come up with the next generation – which is by the way already fifth generation if we look how our products have evolved from 80’s. Our customers should expect a whole new user experience from all our applications as many modules have not only got a completely new front end in HTML5 but a backend and business logic as well.

One of the new developments our customers should be looking carefully is that we are bringing better productized analytics capabilities to our next generation product as we speak. With analytics capabilities we mean payment behavior analytics and statistics, performance analysis and working capital related key performance indicators.

7. What has been your best experience in your career at OpusCapita, now Nomentia?

Next spring shall mark me already fifteen years in the company. Both OpusCapita and Analyste had gone such an exciting journey first as an independent company and then as part of larger enterprises, and finally again independent but together. It’s hard for me to rank all the memories I’ve collected with such a fantastic team and individuals that have participated into this journey. However, I still do remember with warmth some of the early development projects that helped us to become more international, such as joining to SWIFT Lite 2 program as global early adopters in 2013. And of course, winning the hearts of first global customers for the new service back then.

I’ve always got inspiration from challenging projects, working with new technology, and working to productize something that no one has done before. I feel that our employees at Nomentia are in a privileged position, since we work with such an exciting customer base and deliver software for so critical processes.

8. What has been the biggest success story of OpusCapita, now Nomentia, so far?

Although both Analyste and OpusCapita  have their roots in early 80’s we’re truly living the moments of biggest success right now. The company has never been filled with such a talented people, have such great solutions, and finally a market position to grow and create a European (or rather global) Fintech success story.

9. The year is 2025, what have been the OpusCapita/Nomentia successes over the last years?

The world of CFO and Treasurer is changing probably faster than never. Our five-year plan is obviously to grow significantly, which means double-digit revenue growth year-on-year. Much of our growth comes from international markets where I would expect us to cement our positions in several new markets as a viable and market leading choice of a modern CFO.

We will be significantly larger and stronger European Fintech company than we are today. When it comes to successes, I believe it is all about the journey rather than single events. We must work hard every day to win our customers hearts, and to have an atmosphere where employees find it exciting to wake up every Monday and be a part of our success story. Work hard, learn something new every day, and do it with a smile, and the journey will reward you.