Treasury Delta’s corporate treasury RFP platform: How does it work and why collaborate?
| 18-11-2020 | treasuryXL | Treasury Delta | Having a hard time dealing with complex and time-consuming RFP processes?
Tag Archive for: press release
treasuryXL announces collaboration with Treasury Delta
| 5-11-2020 | treasuryXL | Treasury Delta | VENLO, The Netherlands, November 5, 2020 – treasuryXL, the community platform for everyone who is active in the world of treasury, and Treasury Delta, an Irish FinTech company, which has brought to market an innovative platform that uses digital technology to connect companies, banks and treasury management […]
Nomentia – the new Nordic powerhouse for global cash management
| 30-09-2020 | treasuryXL | OpusCapita |
OpusCapita and Analyste join forces
Two leading cash management providers have joined forces to form a new company. OpusCapita and Analyste have merged to create Nomentia – a Nordic powerhouse for global cash management.
”This is a natural step in our journey. Combining forces will improve our offering to our customers, increase our capacity, speed up innovation, and enable us to offer solutions to our customers on a global scale”, says Mikko Soirola, the CEO of Nomentia.
The new company is owned by Providence Strategic Growth (‘PSG’), and Verdane – a North European growth equity investor – will own a minority stake alongside the companies’ management teams. The merger was announced on June 29, 2020.
While the name is new, the companies are not. Founded in the mid 1980s, OpusCapita and Analyste have brought cutting edge Nordic Fintech to the world for over 35 years. Nomentia has a strong heritage of innovation and trust with an average customer lifecycle of over 11 years.
“Our passion is to modernize payment automation and cash management processes and provide clients with the best solutions and tools. We will be able to combine best practices from both companies and create an extensive pool of experience from over 2.300 customers, which will allow for much wider best practice sharing”, says Mikko Soirola.
“We are proud of our Nordic heritage and innovation that we have continuously delivered to the cash management community for over 35 years. Our new brand and visual identity are a salute to our roots, while demonstrating that we have the courage and ambition to be different. From this moment, the name Nomentia shall stand for the Nordic powerhouse for global cash management. We combine best-of-breed solutions from both OpusCapita and Analyste in our cash management portfolio and are looking forward to take this to the world”, states Jukka Sallinen, Deputy CEO Nomentia.
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!
Media contacts
Mikko Soirola, CEO Nomentia, [email protected] +358 40 703 0553
Jukka Sallinen, Deputy CEO Nomentia [email protected] +358 40 590 6144
Wiebke Arendt, [email protected], +358 458731636
OpusCapita shares exciting news – A Nordic Powerhouse
| 07-09-2020 | treasuryXL | OpusCapita |
In July OpusCapita and Analyste announced that they entered a transaction. Now the companies are about to launch the new company they form together.
Make sure to sign up here to be the first to know more.
About OpusCapita
OpusCapita enables organizations to buy and pay quickly and securely, with a real-time view of their business. OpusCapita customers use their source-to-pay and cash management solutions to connect, transact and grow. OpusCapita processes over 100 million electronic transactions annually on its Business Network.
Visit OpusCapita
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Partner Interview Series | A deeper dive with Paul Simpson from Kyriba
01-09-2020 | treasuryXL | Kyriba |
In the upcoming weeks, you will get inspired by the treasuryXL partner interviews. Each interview will be different, the only thing we can recommend: Learn, Discover and Enjoy!
The first interview to start with is Kyriba where we will take a deeper dive into their recent hosted webinar about Mitigating Fraud With a Corporate Payment Hub.
AN INTRODUCTION TO
Paul Simpson is Strategic Payments Director at Kyriba who also was one of the presenters during the webinar in July.
We asked him 9 questions and 3 bonus questions. Let’s go!
INTERVIEW
1. Can you tell us about the Corporate Payment Hub and your specific role?
My role is to promote the Kyriba Payment Hub, to make customers and prospects aware that we also have a powerful payment module. Often people think of Kyriba for TMS, but we have far more to offer, for example an anti-fraud solution in addition to payments. As part of my role at Kyriba, I look at the constantly changing payment landscape to inform treasurers and finance teams of these changes, whether that’s regulatory or technological. The Kyriba Payments Hub detangles what I call the “ERP payment spaghetti”, streamlines global bank connectivity and format transformation, whilst providing companies with real-time fraud detection. This can also accelerate ERP cloud migration projects.
2. What is the core issue the Corporate Payment Hub aims to address and how does it differentiate it from the other players in the market?
Essentially a payment hub gives our clients a single, consolidated point of access across bank accounts, giving the ability to set up payments, define different payment types and provide notification of pending approvals. Kyriba provides this visibility by consolidating payment streams from different systems – ERPs, finance, treasury, legal, capital markets and decentralised teams, thus transforming dis-aggregated processes into a single source of record for all outgoing payments, all done with built-in fraud detection. We also, uniquely, support and maintain a “bank” of over 45,000 bank formats in-house via our bank formats team. This allows the payment hub to transform payment data into bank-specific file formats and connects directly with global banks via multiple protocols, including host-to-host, SWIFT and regional networks. Other providers build each bank format for each customer at a high cost and development time. The Kyriba payment hub is designed to work across different ERP solutions, whereas ERP systems will not work across other instances.
3. Can each ERP work with the Corporate Payment Hub also when you work with multiple ERP’s located in different countries?
Absolutely. The Kyriba payment hub is designed to work with multiple ERP systems across different countries.
4. What are the most common fraud scams that businesses are dealing with?
Fraudsters are trying to use the current crisis to their advantage. With people working from home, for example, they may attempt to ask finance to make payment to a new bank account – knowing the sign off process is not as robust as it was when teams were all together in the office.
5. What’s the difference in Fraud Scams before COVID19 and the time we live in now?
We have research that shows the number of fraud scam attempts is up by nearly a 1,000 times since Coronavirus. The finance sign-off process for making payments are defragmented as people are working from home. This is where the Kyriba payment hub can bring standardised workflows, sign-off and approvals together to help eliminate fraud
6. What critical elements of Fraud are often overlooked by businesses?
Businesses fail to use AI and machine learning in addition to rule-based technology and processes to reduce fraud. This is a key component of the Kyriba Payment Hub
7. What has been the best experience of one of your customers working with the Corporate Payment Hub?
We are able to cut the time and cost of a customer migrating their ERP solutions to the cloud, as we can handle all the payment connectivity and formats etc “out the box”, thus saving the company many 100,000s of Euros, and 6 months or more in time, whilst also providing and standardising work flow sign off processes etc.
8. What is, in your perception, the biggest benefit of a working with the Corporate Payment Hub?
True, real-time visibility of all payments, from all systems, in one place with enhanced fraud protection and built in work flow.
9. What is your best fraud prevention advice for businesses?
Prevention is always better than cure! I always preach this. Always use combined workflow and AI / Machine learning technology together – the best of both worlds.
BONUS QUESTIONS
Have you ever experienced a fraud scam yourself? If yes, how did it impact you?
I have never experienced a fraud scam myself, the protection I had in place alerted me to a potential scam and I took action.
How are you defending yourself against payments fraud?
Every payment has to be checked via a rule and AI/Machine Learning process.
How does the future of fraud prevention look like in your perspective?
Fraudsters are getting more sophisticated, with only 6% of Corporates using machine learning/AI, they need to use the latest technology or be left behind and suffer fraud.
About Kyriba
Kyriba is the global leader in cloud treasury and finance solutions, delivering mission-critical capabilities for cash and risk management, payments and working capital solutions.
Kyriba empowers CFOs and their teams to transform how they activate liquidity as a dynamic, real-time vehicle for growth and value creation, while also protecting against financial risk. Kyriba’s pioneering Active Liquidity Network connects internal applications for treasury, risk, payments and working capital, with vital external sources such as banks, ERPs, trading platforms, and market data providers. Based on a secure, highly scalable SaaS platform that leverages artificial and business intelligence, Kyriba enables thousands of companies worldwide to maximize growth opportunities, protect against loss from fraud and financial risk, and reduce costs through advanced automation. Kyriba is headquartered in San Diego, with offices in New York, Paris, London, Frankfurt, Tokyo, Dubai, Singapore, Shanghai and other major locations.
Visit Kyriba
treasuryXL announces collaboration with Refinitiv, one of the world’s largest providers of financial markets data and infrastructure
| 27-8-2020 | treasuryXL | Refinitiv |
VENLO, The Netherlands, August 27, 2020 – treasuryXL, the community platform for everyone who is active in the world of treasury, and Refinitiv, one of the world’s largest providers of financial markets data and infrastructure today announced the signature of a premium partnership.
The collaboration aims at offering a continuous flow of treasury content, making treasury knowledge available. This collaboration includes:
- collaboration on messaging, content production, and visibility
- mutual distribution on select items of interest
- collaboration on larger themes: event promotion, speaking and experts contribution, publications
With this collaboration, treasuryXL and Refinitiv are striving to make sure that treasurers are always up to date with the latest news and events in their field.
According to Kendra Keydeniers, treasuryXL “We are very excited to welcome Refinitiv in our community. Refinitiv is one of the world’s largest providers of financial markets data and infrastructure, serving over 40,000 institutions in over 190 countries. Refinitiv will have a prominent role in the Treasury Topic environment with coverage in corporate finance, risk, cash management, working capital management & treasury software which is a considerable contribution to our ecosystem.”
About treasuryXL
treasuryXL started in 2016 as a community platform for everyone who is active in the world of treasury. Their extensive and highly qualified network consists out of experienced and aspiring treasurers. treasuryXL keeps their network updated with daily news, events and the latest treasury vacancies.
treasuryXL brings the treasury function to a higher level, both for the inner circle: corporate treasurers, bankers & consultants, as well as others that might benefit: CFO’s, business owners, other people from the CFO Team and educators.
treasuryXL offers:
- professionals the chance to publish their expertise, opinions, success stories, distribute these and stimulate dialogue.
- a labour market platform by creating an overview of vacancies, events and treasury education.
- a variety of consultancy services in collaboration with qualified treasurers.
- a broad network of highly valued partners and experts.
About Refinitiv
Refinitiv is one of the world’s largest providers of financial markets data and infrastructure, serving over 40,000 institutions in over 190 countries. It provides leading data and insights, trading platforms, and open data and technology platforms that connect a thriving global financial markets community driving performance in trading, investment, wealth management, regulatory compliance, market data management, enterprise risk and fighting financial crime.
For more information visit: www.refinitiv.com
Active Liquidity Podcast – How AI Protects Payments During COVID19
| 17-08-2020 | treasuryXL | Kyriba |
Our Partner Kyriba has launched their podcast, in which the Chief Product Officer Thierry Truche shares his view on how AI (Artificial Intelligence) is essential as the third line of defense for finance chiefs, ensuring payments are protected during the COVID 19 pandemic. Even if you are a company that has strong fraud prevention processes in place, remote working conditions require AI to detect abnormal payments activity. Hear why Truche sees AI as a replacement for the collective intelligence that is more present in an office setting in this episode of the Activity Liquidity Podcast!
About Kyriba
Kyriba empowers CFOs and their teams to transform how they activate liquidity as a dynamic, real-time vehicle for growth and value creation, while also protecting against financial risk. Kyriba’s pioneering Active Liquidity Network connects internal applications for treasury, risk, payments and working capital, with vital external sources such as banks, ERPs, trading platforms, and market data providers. Based on a secure, highly scalable SaaS platform that leverages artificial and business intelligence, Kyriba enables thousands of companies worldwide to maximize growth opportunities, protect against loss from fraud and financial risk, and reduce costs through advanced automation. Kyriba is headquartered in San Diego, with offices in New York, Paris, London, Frankfurt, Tokyo, Dubai, Singapore, Shanghai and other major locations. For more information, visit www.kyriba.com.
CASH MANAGEMENT & BUSINESS RESILIENCE WEEK | JUNE 23-25 2020
| 10-6-2020 | treasuryXL | OpusCapita |
In these unprecedented times, OpusCapita want to bring the treasury community together with a complimentary 3-day online event.
The Vital Lifeline for Senior Treasury and Finance Professionals in an Era of Crisis.
In these times of uncertainty, and with recession looming, gaining visibility and control of actual (vs forecasted) cash flow and working capital has never been more important. To this end, the OpusCapita “Cash Management and Business Resilience Week” will provide you with a vital lifeline and timely knowledge exchange platform for you to directly engage and learn from other senior treasury and finance professionals as you work to develop and implement your response strategies.
The “Cash Management and Business Resilience Week” will be streamed live over 3 days in easily digestible blocks to ensure maximised impact, flexibility and engagement but with minimum disruption to your busy schedules in these hectic and uncertain times. All content will also be recorded to enable on-demand viewing at your convenience.
Tailored content will be delivered by some of Europe’s leading names in treasury and finance in different formats from interviews, break-out sessions and panel discussions to enable conversation and takeaways.
Exclusive to senior–level corporate treasury and finance professionals, the virtual series is specifically designed with our community in mind. From live-streams featuring Europe’s leading names to an array of networking opportunities, our platform provides all the perks of a live event in the comfort of your own home, all completely for free.
Practical
When? June 23-25
For more information about the speakers, programme and free registration click here.
About OpusCapita
OpusCapita is the provider of the number one cash management software with over 800 customers across more than 100 countries. Our secure, cloud-based solution enables Treasury and Finance professionals to harmonize global processes and policies, centralize treasury and finance operations and reduce complexity. We simplify the management of all cash flows and liquidity and automate the processing of both payments and collections. All of this ensures full visibility to your cash while reducing the risk of fraud.
Visit OpusCapita
Visit Partner Page
Automation key to cash forecasting in a crisis
| 12-05-2020 | treasuryXL | OpusCapita |
As businesses face drastic cash flow issues caused by the pandemic, digitalising cash management can be key in minimising risk.
Digitalisation could be vital to cash management amid financial crisis
As businesses face drastic cash flow issues caused by the pandemic, digitalising cash management can be key in minimising risk.
“Digitalisation can mean that you have more data in your systems electronically and that, of course, helps when you need a full picture of everything. With artificial intelligence you can find patterns that are invisible to the human eye but could be quite groundbreaking. The data has been around in the ERP systems and treasury management systems electronically for quite a while,” says Karl-Henrik Sundberg, presales executive lead at OpusCapita.
“Many corporates are putting data in Excel sheets and sending Excel sheets between themselves. When you’re doing spreadsheets, there can be errors in formulas, and it’s a manual work. OpusCapita compiles everything system-wise – data file integrations or APIs, so it’s no manual work involved at all.”
In times of financial crisis, reverting to a single cash management system can be highly beneficial for businesses seeking to get insights into their currency positions in real time, so they can react to internal and systemic pressures.
“When you are operating in a global environment and the business is complex, you have very different legal entities in your group, and you have many currencies and quite a lot of bank relations and bank accounts scattered around the globe. As this is not easy, having a software tool can enable you to consolidate everything into one place.
“We offer a multi bank, so you can log into OpusCapita, and see all your balances across the globe in one view. Particularly now in these times, the CFO, or the head of treasury really needs to know, ‘what do we have on our bank accounts in Italy? Or what is the status of our cash right now in North America,” explains Sundberg.
Remaining prepared
To bridge the gap of uncertainty, Sundberg advises businesses to focus on cash visibility and forecasting through the process of automation – easing the role of treasurers controlling finances amid a crisis.
“Get the cash visibility up and running. In today’s fast paced environment, you can’t really come out to your subsidiaries around the globe and ask for a weekly cash report on a spreadsheet – that’s why we automate this as much as possible. When I was heading cash management operations & treasury back office for a global corporate, getting the visibility on cash positions was vital for succeeding in our work.
“The second thing after that is cash forecasting. With an efficient tool, you can also get a picture of all your future cash flows. You should be looking for to import, for example, accounts receivables; accounts payables; purchase orders; and sales orders. The same goes for cash visibility – if you’re a global company and you have operations all around the world, most likely you have this data in various systems. Through automation, you can combine this into one place and offer a consolidated view of future cash, cash positions and cash flows,” he says.
Access to real time data on cash flow can enhance treasurers’ confidence in pursuing business decisions, particularly as automation allows them to forecast the impact of crises.
“As a business leader, treasurer, or CFO, having that information can make you be more confident. You can use this investment to generate business growth or have the power to act on – meaning it also impacting business decisions.
“In rough times, with automated cash positions and cash flows, you can immediately see if things start going in the wrong direction as you log in into the system. It’s a kind of alert system when embarking in the wrong route. Without the system, it might take weeks before you discover it and then it might even be too late. Of course, we are not spotting the Coronavirus in the system but we are spotting the effects of the Coronavirus reflected in the cash flow,” Sundberg explains.
As part of its cash management solutions, OpusCapita offers a basic version of its cloud-based module for cash forecasting to facilitate access to treasurers’ cash positions for free until the end of 2020. This basic version can be easily extended into a full-blown cash forecasting & analytics solution, or a payment hub incorporating a multi-bank solution for outgoing payments and a matching tool to automate the incoming money with accounts receivables.
Read more information about Liquidity basic here.
About OpusCapita
OpusCapita enables organizations to buy and pay quickly and securely, with a real-time view of their business. OpusCapita customers use their source-to-pay and cash management solutions to connect, transact and grow. OpusCapita processes over 100 million electronic transactions annually on its Business Network.
Visit OpusCapita
Visit Partner Page
DELOITTE & KYRIBA WEBINAR | Today’s Payments Landscape: Reducing Costs & Fraud, Increasing Productivity
| 11-05-2020 | treasuryXL | Kyriba |
Register today!
When? Thursday, May 14, 2020
Start: 3.00 pm – 3.45 pm CET
Duration: 45 minutes
From CFOs to controllers to treasurers, financial leaders are constantly looking for ways to improve their payment processes as inefficient workflows can inhibit supply chains, cash flow, and profitability, not to mention increase fraud risk.
Deloitte and Kyriba have joined to discuss the current payments landscape in the Netherlands, and how technologies and centralised and standardised payment processes can dramatically increase productivity, lower costs and enhance fraud prevention.
In this 45-minute webinar, we will discuss:
- Deloitte Treasury Advisory Services.
- Key drivers for Payment Projects & Challenges for Treasurers.
- The payment landscape today.
- Challenging the Status Quo.
- Panel Q & A
Submit on the registration page and safe your place.
About Kyriba
Kyriba empowers CFOs and their teams to transform how they activate liquidity as a dynamic, real-time vehicle for growth and value creation, while also protecting against financial risk. Kyriba’s pioneering Active Liquidity Network connects internal applications for treasury, risk, payments and working capital, with vital external sources such as banks, ERPs, trading platforms, and market data providers. Based on a secure, highly scalable SaaS platform that leverages artificial and business intelligence, Kyriba enables thousands of companies worldwide to maximize growth opportunities, protect against loss from fraud and financial risk, and reduce costs through advanced automation. Kyriba is headquartered in San Diego, with offices in New York, Paris, London, Frankfurt, Tokyo, Dubai, Singapore, Shanghai and other major locations. For more information, visit www.kyriba.com.
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