Caverion

Challenge

Before Nomentia Liquidity, Caverion was using Trezone. At the same time, the company was also using Nomentia Payments and a treasury management system. Caverion was re-evaluating their technology stack: they were considering a possible replacement for their TMS and they also started the discussions for switching from Trezone to Nomentia Liquidity for improving cash visibility.

Solution

Caverion has decided to apply a best-of-breed technology stack set up in the treasury department. For liquidity management, they chose Nomentia Liquidity to monitor liquidity development on actual and forecasting data group-wide.

From Trezone to Nomentia Liquidity 

Before Nomentia Liquidity, Caverion was using Trezone (former Analyste solution). At the same time, the company was also using Nomentia Payments and a treasury management system. At the time of the merger of OpusCapita and Analyste, Caverion was evaluating their technology stack: they were considering a possible replacement for their TMS and they also started the discussions for switching from Trezone to Nomentia Liquidity.

While Trezone worked well for Caverion’s use case, the fact that Trezone would not be updated in the future anymore, helped them to start the journey for selecting a new tool for liquidity management. Caverion had three options: do it through the new TMS, find a completely new provider, or continue to work with Nomentia.

Choosing Nomentia Liquidity

One of the reasons for choosing Nomentia Liquidity was the company’s strong focus on liquidity management instead of risk management or deal management. For Caverion, it is essential to have clear visibility into the company’s cash position. 

”We decided to have a best-of-breed technology stack set up in Caverion’s treasury department and choose the solutions that best fit our goals. We have seen that liquidity management is one of Nomentia’s core strengths and as cash forecasting and visibility are strategically important for our operations, we’ve expanded our relationship with Nomentia”

Viljami Vainikka, Head of Group Treasury at Caverion

As Caverion has been using Nomentia Payments and Accounts, the users were also familiar with the software. Being a long-time Payments customer also meant that the integrations to other core systems have been in place, so the project did not need to start from scratch.

As Caverion has also chosen Treasury Systems as a replacement for their previous TMS, it was a major benefit that Treasury Systems and Nomentia have been working together for years in the Nordics and that there are readily available integrations between the two systems.

Getting started with a dedicated consultant

To complete the project, Caverion has been working with a dedicated consultant who helped with the technical setup and data mapping. Caverion provided the consultant with default values for reporting, what they needed and what they wanted to see, and the consultant developed the reporting views.

Using Nomentia Liquidity

Nomentia Liquidity is used in all 10 countries where Caverion operates. Part of the data is coming from Nomentia and it’s been beneficial that the majority of the data has been in a single place. Other data sources include SAP, forecasting data, bank account statements from different divisions as well as data from Treasury Systems.

Using Liquidity, Caverion’s team prepares four weeks rolling forecasts as it is a reliable timeframe. The actuals are checked against the forecasts and it is possible to take a look at the cumulative cash flow data from the start of the year or the start of the month to monitor liquidity development based on actual and forecasting data group-wide, per division, cash inside pools vs. outside of pools, and for evaluating FX hedging needs. 

The main benefits of using the solution:

• The flexibility of the solution
• Being able to drill down to the transaction level and gain more visibility into the transactions
• Comparing actuals, payment data, and forecasts within the same system
• A lot of data that can be utilized such as delayed invoices or seeing one’s own data
• Each user can create their own reports
  
  

Utilizing the full potential of the available data

Caverion now has a modern best-of-breed setup for cash and treasury management, using Nomentia and Treasury Systems.  

From a strategic point of view, improving automation and communication between the different systems remain important.

Caverion now has visibility into cash flows, the opportunity to visualize data and take all the potential out of the data – there is still a lot of data available that can be utilized further. With the current setup, Caverion can focus on improving how to match data from different data sources for even more visibility into the company’s cash position.