Nomentia is expanding to new markets, and we recently had Dieter Wagenknecht join us as Senior Sales Manager in the DACH region. We are super excited to have him on board! We asked Dieter a few questions to get to know why he joined Nomentia, what he has to say about our solutions, and his predictions for the future.
You’ve recently joined Nomentia. What made you feel like this is the place to be?
Nomentia, as a Software as a Service provider, offers all the functionality companies need to get a centralized view of liquidity worldwide, independent of ERP systems, and bank connections. With the merger of Nomentia and TIPCO, a serious treasury management system (TMS) provider has emerged that can support the treasury needs of companies very well. Helping to build and support companies with customized solutions to manage the liquidity and financial risks of a company worldwide is my mission. That's the reason I get up every morning.
Out of all the different solutions that Nomentia offers, which one do you think is the most interesting?
The goal of any company is to ensure targeted liquidity planning, optimization of cash position, efficient and secure management of payments, and active banking policy, for the creation of transparency across all financial risks and compliance requirements throughout the company. To achieve these goals, Nomentia offers SaaS solutions to companies, and by joining forces with TIPCO, all risk management and reporting are fully covered.
Where do you think the world of treasury is heading?
The world is becoming more digital. Complex manual processes will be replaced by automated processes. In the future, the limited human resources will increasingly focus on the analysis of, and better predictability in the company (Robotic Process Automation (RPA), Predictive Analytics). Companies will continue to focus on centralization, automation, and the resulting digitalization in the treasury to fulfill the growing requirements in liquidity planning, risk management, and compliance.
As the end of the year is getting close, what do you predict as the biggest trends of 2022?
Visibility of globally available liquidity in the company and future needs (short, medium, and long term) are key trends. Furthermore, security in payment transactions and the implementation of the further increasing compliance requirements are current topics in treasury, as well as the individual and flexible reporting.
What is one piece of advice you would give to a treasurer friend?
To create a foundation to ensure centralized automated visibility of all cash flows (cash position, short-, medium- and long-term planning) in the company. An important building block is the centralization of payment transactions. For companies using Excel lists to reduce the risk of errors and improve the predictability of liquidity, it is essential to implement a TMS system today to be able to fulfill the increasing requirements of the treasury in the future. Furthermore, a company must decide whether to implement and operate the solution themselves or if they prefer a fast, flexible SaaS solution.