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OpusCapita® Case IT2 Treasury Management System lifts performance and reliability at Ramirent's Treasury operations OpusCapita and British software house, IT2 Treasury Solutions Limited, have concluded a partnership combining decades of cash and treasury management experience, and OpusCapita is now offering its customers the IT2 Treasury Management System. Treasuries of two globally operating companies, Ramirent as a brand new IT2 user and Huhtamaki as an experienced one, are of one mind: thanks to the system, they now can do what they should be doing monitoring, analysing and developing cash and risk management. The Finance Department of the multinational Ramirent Group renews the administration of Treasury operations. "The management of our treasury positions with our previous manual methods had become inefficient. More time was taken up on reporting and compilation of reports than on analysis. The rapid growth experienced over the previous years brought further challenges," explains Ramirent Oyj's Group Treasurer Janne Kumpulainen. "In our Group, we have 13 countries with 12 different currencies. As an example, the effective management of the Group's currency position was a challenge, because the cash flow forecasts for the subsidiary companies were manually consolidated using data in spreadsheets received by email," Group Cash Manager Petteri Järvinen adds. Group Treasury offers the 20 odd subsidiaries of the machinery and equipment rental group financing services and related advice, and looks after the Group's external and internal funding, foreign exchange "The weakened market situation has highlighted the importance of effective treasury processes. We are able to hedge against risks more accurately and proactively than before, as time previously spent on reporting and document generation can now be used in analysis and planning," state Janne Kumpulainen (on the left) and Petteri Järvinen from Ramirent's Group Treasury. Ramirent · The leading equipment rental company for construction and industry in the Nordic countries and in Central and Eastern Europe. · 362 outlets in 13 countries. · Net sales EUR 703 million (2008). · Number of employees 3,900 (2008). Problem: The group has offices in 13 countries with 12 different currencies. The effective management of the Group's currency position was a challenge, because the cash flow forecasts for the subsidiary companies were manually consolidated using data in spreadsheets received by email. Solution: The company chose the IT2 Treasury Management System supplied by OpusCapita. Now, the subsidiaries enter the same information that they previously emailed to the Group Treasury directly into the IT2 system, and the Group Treasury is able to review the reporting processes of the companies. Pu b l i s h ed: OpusCapita Journal 2009. T E X T: Riikka Tietäväinen-Arola, PHOTOS: Ramirent, Harri Vaskimo info@opuscapita.com · www.opuscapita.com
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