Cash Management - A Focus on Innovation & New Markets
Looking back over the last 5 months, 2019 has been a monumental year for Nomentia in general and our Cash Management business in particular. In April, Nomentia was acquired by Providence Capital and we’ve already begun to see increased investment which is helping us accelerate some of the major changes we are making.
The additional investments can and will be seen in many areas, including an increased focus on Nomentia's software business.
We are in the middle of the largest technology investment in our 30 year history. With this investment, we are renewing our entire product portfolio and ensuring we take advantage of the latest technologies available, while building on top of a world class cloud infrastructure, Microsoft Azure.
Cash Forecasting is the first module that’s been launched and we believe it demonstrates our commitment to remain ahead of the curve in Cash Management. Companies can now get a real time view of their cash flows, create reports that deliver value, and easily follow KPI’s for accuracy. The drag and drop functionality ensures that companies can easily create the reports they need, when they need them, in seconds.
We also have our first set of customers who are now live on Microsoft Azure. Again, this demonstrates our commitment to continuously improve what we offer to our customers by offering higher uptime SLA’s as well as true scalability for our global customers. In addition, by building on top of one of the most cutting edge platforms available today, we can ensure we are able to attract and retain top notch talent, which in the end benefits our customers.
Go-To-Market Gaining Steam
Our go-to-market strategy is also paying off with our market entry into the Netherlands continuing it’s success and our first customer win, in Germany. We were honored to have our first German reference customer speaking at the Finanz Symposium in May to a packed audience. For us, it confirms that we have a compelling offering for the German market and are able to solve some of the critical challenges that customers there are facing.
The deals that we closed in the Netherlands in late 2018 are now being implemented and for us it shows that much of our experience in the Nordics can be transferred to the Netherlands
Looking Forward To The Second Half
We will continue the renewal of our product portfolio. Cash Forecasting has now been implemented and the rest of our portfolio should be implemented by the end of the year. I’m expecting both of those to be ready by the end of the year. I also anticipate many more customers to be migrated to our Azure platform and bringing additional benefits to our customers.
In addition, we are eagerly awaiting the Banks to publish their API’s in accordance with the new PSD2 regulations. This will allow us to provide even more real-time data for our customers and should lead to further product innovations.
All in all, these are exciting times and we are happy with the innovative products we have released thus far and we look forward to a great second half!