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Year founded
2005
Industry
Industrial Machinery Manufacturing
About
Cargotec is a leading provider of cargo and load handling solutions. With headquarters in Helsinki, Finland, Cargotec has approximately 11,500 employees and operations in more than 100 countries.
Challenge
Cargotec has been using Nomentia solutions already since 2007. In 2012 they have been looking for a solution that would reduce the amount of manual work spent on netting.
Solution
The Nomentia solution has been updated with additional functionalities and modules. As a result, Cargotec has been able to significantly reduce the time and manual workload associated with netting.
User friendly reports and flexible support for file based data transfer
"From the treasury's point of view, netting takes hardly any time and no longer needs to be done manually. The reports are user-friendly, and the treasury payments are automatically available via the TMS for the banks to process. It's very easy to check that the results are in order."Mikko Myyrä, Director, Treasury at Cargotec.
A majority of the employees involved in Netting are subsidiary representatives who report their internal invoices into the netting cycle, review their counterparties' claims, and incorporate the netting result in their ledgers. In addition to general user-friendliness, Cargotec's subsidiary users particularly value the flexible support for file based data transfer. The Nomentia System interfaces with Cargotec's ERP system (SAP) for importing internal invoices into the netting cycle, as well as for auto-clearing them in the ERP after the netting cycle has been complete.
Nomentia solutions have helped Cargotec to operate the netting process with a minimum of manual work within the subsidiaries as well as the Group Treasury.
Nowadays, we hardly have to spend any time on netting.
Mikko Myyrä
Improved treasury management starts with Nomentia
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