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OpusCapita® Case VVO centralises loan portfolio management VVO's Financial Management Unit now uses an OpusCapita system to manage its loan portfolio. VVO's portfolio covers almost all types of loans, with the exception of foreign currency contracts, while the Group manages its huge loan portfolio of E1.4 billion using a centralised loan management system. Working alongside experts from VVO's Financial Management Unit, OpusCapita implemented the Group's new loan and collateral management system, which was completed in spring 2005. In early 2004, VVO also adopted money transactions, liquidity management and investment management solutions. "We wanted to improve loan management by centralising our entire portfolio under the Financial Management Unit. VVO Group consists of 200 companies, including condominiums and joint-stock property companies throughout Finland, with a portfolio of around 2,000 loans. We knew that we would need a customised solution to handle such volumes, via a partner alongside which we could develop a suitable system," explains Maire Sundell, Financial Manager from VVO's Financial Management Unit and VVO's project manager for the venture. Exposure to interest rate risks provides spur Almost a third of the VVO portfolio consists of government annuity loans, another third comprises government-backed interest subsidy loans, while the remainder is made up of market-rate loans from dozens of banks and insurance companies. The proportion of market-rate loans has been growing recently, making for a slight increase in the Group's exposure to interest rates, one of the key reasons for embarking on the system development project. "We can now see huge business benefits," Maire Sundell points out. "This centralised loan portfolio management system provides accurate realtime data across the portfolio for accounting and budgeting needs, greatly improving our management reporting procedures. It also enables us to monitor interest-rate adjustment dates, receive reliable median rates and check median loan maturities. Given the size of our current portfolio, we couldn't dream of handling even a proportion of these manually." "The reporting features more than fulfil our requirements: the search criteria are very flexible, and there's the option of saving report templates. If, despite all the options on hand, the report still doesn't suit you, you can export it to Excel and continue editing it." Reaping the benefits All six VVO Financial Management Unit staff, plus one employee dedicated to the project, contributed their own expertise. Application Specialist, Kirsi Jäderholm, represented VVO's Information Management unit. "Although projects like this are led by business units, Information Management should be involved from the beginning, and be aware e.g. of the required technological solutions and other system environment requirements. Throughout the project, my point of contact at OpusCapita remained the same, which worked well. OpusCapita thoroughClear delineation of internal project responsibilities made it easier for VVO's Financial Management Unit to develop the new loan and collateral management system. VVO's experts were collateral consultant Terttu Färling (left), cashier Anne Sivonen, financial manager Maire Sundell, financial assistant Pirjo Laine, loan accountant Merja Etholén and investment accountant Kirsi Vuorio. Pu b l i s h e d i n Op u s C a p i t a Jo u r n a l 2 0 0 6 info@opuscapita.com · www.opuscapita.com
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