191030 Eurofinance Reflections 1920x1280
191030 Eurofinance Reflections 1920x1280

Preparing for the future at EuroFinance

EuroFinance’s International Cash and Treasury Management conference has taken place in Copenhagen, gathering more than 2,000 treasury and cash management professionals from international banks, corporates and systems providers. This year’s EuroFinance theme was ‘the resilient treasury’ and top of the agenda for Nordea was automisation and Treasury KPIs.

As one of the most important global treasury events on the calendar, EuroFinance proved to be a busy three days for attendees and the Nordea team in particular. This time on home turf in Copenhagen, Nordea’s ‘Connect to future treasury’ stand was the place to be to hear more about the latest trends and developments in the Nordic Transaction Banking space.

Anna Eklund, Head of Cash Management at Nordea, says: “This was clearly the busiest EuroFinance conference I have ever been involved with. It was very hectic with a combination of pre-booked meetings and many partners just popping by to begin discussions. There was a great deal of different interactions, which was very good. We have definitely been very active in engaging all of our customers who were present at EuroFinance, and they knew which topics they wanted to discuss with us. We also had the right team in place, ready to discuss the topics that were top of the agenda for this year. That helped to create the right buzz.”

We have definitely been very active in engaging all of our customers who were present at EuroFinance, and they knew which topics they wanted to discuss with us.

Anna Eklund, Head of Cash Management at Nordea

Simple automisation

Visitors were offered extra insights into key themes with a series of four seminars arranged and hosted by Nordea during the conference. One seminar included a case study with Kimmo Helle, VP Treasury Development & Trade Finance at Metsä Group Treasury, which focused on the results and challenges of implementing a Robot Process Automation (RPA) set up in their Treasury and shared service centre.

Anna Eklund notes: “For me, the number one topic above all at this year’s EuroFinance was related to automation and robotics. That was clearly on the minds of all of the visitors I spoke to and our seminar with Metsä certainly helped to drive the discussions around this topic. The big takeaway from Metsä was that automation can be something very simple and very easy to implement. In this case they were automating many smaller tasks internally rather than bringing in expensive robots or programmes. Their own team began to make enhancements which eventually led to a full programme of all sorts of improvements. Engaging and encouraging people and starting small can often be the trick.”

“The very basic Cash Management offering is all about covering many of the holes needed in order to close the gap before companies can further automise their processes. For example, improving a company’s Straight-Through Processing (STP) capabilities can also be achieved by adding more automation in the reconciliation process with the use of solutions such as e-invoices or electronic files. It then becomes easier for the Treasury to automise the last part of the process or perhaps to add some robots in order to get some analysis in place when it comes to the data that they actually collect from different sources,” adds Anna Eklund.

Improving a company’s Straight-Through Processing (STP) capabilities can also be achieved by adding more automation in the reconciliation process with the use of solutions such as e-invoices or electronic files.

Anna Eklund, Head of Cash Management at Nordea

Future Treasury

During EuroFinance, the results of Nordea’s Treasury KPIs Report 2019 were revealed for the first time. The report showed that Treasurers are using more KPIs than previously but have not implemented KPIs in relation to their digitalisation goals. It was also found that Treasurers are still not using KPIs to evaluate their own performance or for benchmarking towards peers. Many Treasuries also maintain a short-term perspective in relation to KPIs, with a focus on traditional priorities such as liquidity and funding.

In other seminars organised by Nordea, Mattias Fras, Head of AI Strategy & Acceleration at Nordea, looked at how Artificial Intelligence can benefit treasuries and help companies become more data driven. Sofia Ericsson Holm, Head of Open Banking Partnerships at Nordea and Ulrika Claesson, Commercial Business Developer at Nordea, explained how Open Banking APIs are already beginning to deliver new solutions that offer benefits well beyond process efficiency.

Open Banking APIs are still definitely something that the customers are considering and they are still waiting to see more concrete use cases and examples in the market.

Anna Eklund, Head of Cash Management at Nordea

Anna Eklund concludes: “Another topic that was discussed a great deal this year was the systems environment, meaning treasury management systems and e-banking systems, etc. Systems are clearly changing and demands are increasing with regards to Treasury Management Systems (TMS), so it is always very interesting to hear the current reflections from our partners in this area. We have some customers with very IT orientated Treasury Managers who were very eager to give their views on changing systems and the potential of new aggregated solutions. Open Banking APIs are still definitely something that the customers are considering and they are still waiting to see more concrete use cases and examples in the market.”

Reflections from EuroFinance

Download the Treasury KPIs Report 2019.

To find out more, contact your Nordea Cash Management Advsior or write to Anna at anna.eklund@nordea.com.

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