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OpusCapita® Case SKF saves money on money with OpusCapita Netting For groups of companies with extensive internal invoicing, it may be worthwhile using a netting process, which is a method of offsetting receivables and payables that frees up capital and reduces currency risks. In collaboration with SKF, OpusCapita has just succeeded in creating a new, modern solution with an emphasis on flexibility and user-friendliness. "We have been working with netting for over 10 years, and demand is steadily increasing," reports Robert Wennerström, Sales Manager at OpusCapita Sweden. "Together with SKF, we have now developed a web-based solution. A state-of-the-art product in my opinion." He believes that the key to success has been a good requirements specification combined with an open dialogue. But it is always better to hear it straight from the horse's mouth, which is why OpusCapita Journal headed to Gothenburg. A well-rounded business concept A giant ball flashes outside the headquarters of the SKF group. It is part of a ball bearing a concept the world considers as Swedish as Nobel, Volvo and ABBA. SKF was founded over a hundred years ago and quickly developed into a global operation. Today it is represented in more than 130 countries and is renowned for its competence and high-tech products. In 2006, however, at SKF's Treasury Centre, it was discovered that its proprietary netting system needed a new technical platform. "We were using an old-fashioned technology and only a few people knew how to maintain and develop the system. There was also a need to make it more user-friendly. For these reasons, we started to look for a new netting system," explains Lars Hallgren, Finance Manager at SKF Treasury Centre. SKF's Treasury Centre is the group's internal bank and it handles borrowing and lending, as well as currency and interest rate risks. There are 20 staff in Gothenburg and, due to the amount of business in Asia, there are also seven Treasury employees in Singapore. The best of both worlds Lars Hallgren describes how they quickly arrived at the decision not to develop a new proprietary system. "We were looking for a standard product which we could influence, having our wishes taken into account. Some of the potential Karin Wahlgren, SKF: "OpusCapita understood our business and from the word go it felt good that there was a desire to solve the problems that might arise." Pu b l i s h ed: OpusCapita Journal 2009 nfo@opuscapita.com · www.opuscapita.com
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