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OpusCapita® Case Local, centralised and SWIFT SanomaWSOY's independent solution Our challenge lies in the local nature of media companies, even those that operate internationally. However, the organisation's centralised financial department, based in Helsinki, requires strict control of local cash flow in order to administer overall financial resources. Furthermore, 13 million incoming transactions must be allocated efficiently and correctly in local units in Europe, says Markus Hänninen, Group Treasury Manager of SanomaWSOY Corporation, the leading media group in the Nordic countries. SanomaWSOY has achieved centralised liquidity control and local efficiency in processing incoming transactions by developing an international electronic banking solution together with OpusCapita. As the first Finnish company to do so, SanomaWSOY obtained a direct connection to the worldwide SWIFT banking network, and payment and transaction material is transferred to the OpusCapita system through an integrated SWIFTNet connection. Hänninen states that the objective of the tailor-made solution is independence. Firstly, the independent OpusCapita solution is particularly well suited for us because, for example, it must be easy to integrate the solution with new information system environments as the company grows. Secondly, we wanted our channel to the bank to be independent, too. Through the direct SWIFTNet connection we can flexibly use, say, several overseas banks. Furthermore, SanomaWSOY wanted to maintain international payment material formats in payment transactions for the time being. Markus Hänninen claims that, in any case, within the next few years the SEPA (single European payment area) project will change the nature of European banking. Actually, SEPA will no longer represent a great change for us. The OpusCapita solution already integrates, for example, the handling of transaction materials in our European units. And whether the new European-wide payment material standard is based on xml or something else, this model will adapt to it well. Secure and safe data interchange SanomaWSOY, which is among the five largest magazine publishers in Europe, operates in more than twenty countries. The new OpusCapita system is used in Finland, and it will be introduced in the Netherlands, Belgium, Hungary, the Czech Republic and the Baltic countries during 2006. We have the highest cash flow in these countries so, given its level of automation, Finnish high technology in cash flow management will prove considerably more efficient in local operations, says Markus Hänninen. It should be noted that SWIFT services have their price, and the channel requires a certain volume of transactions before it is profitable for a company to use it in data interchange. He adds that from a corporate customer's point of view, processing issues within the Markus Hänninen says that OpusCapita's support was necessary when the media group SanomaWSOY acquired a direct connection to the international SWIFT network. The development process for the electronic banking solution has raised a lot of questions, for which I have needed answers that are easy to understand. OpusCapita's experts have certainly provided those answers. info@opuscapita.com · www.opuscapita.com
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