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DNV GL

Comprehensive and timely reporting – whatever the weather.

 

About client

DNV GL offers classification and technical assurance along with software and independent expert advisory services to the maritime, oil & gas and energy industries as well as certification services for clients in numerous other industries. Founded in 1864, the company is represented in over 100 countries around the world and employs nearly 15,000 personnel. In its 2015 financial year, DNV GL generated revenues of around 2.43 billion euro.

dnvgl

Challenge

Strong inorganic growth and an international merger have given rise to a global player which has a heterogeneous IT system landscape. The data relevant to the treasury department are stored in various systems located in different parts of the world. Due to short-term and non-standardised reporting requirements, it was extremely work-intensive to centrally manage intercompany funding. The primary objective was to simply achieve more efficiency and transparency in treasury processes and structures by means of a reporting solution.

Solution

Nomentia was implemented as a lean data centre in order to consolidate the treasury data already stored in SAP, BOFC, ATAQ, Excel and other stand-alone solutions, to avoid manual data entries and to enable all data to be analysed centrally. The concept of a global FX exposure was established for the first time. As a result of a clear reporting and account clearing process, it is now possible to allocate funds within the group. A system of guarantee settlement was also established as well as achieving an optimisation of the intercompany settlement process by means of setting up clearing reports based on SAP/BOFC. A standardised online reporting package, which is available both to head office and the subsidiaries, ensures transparency of information and support in the areas of management reporting and treasury decision-making.

„Nomentia helps us easily capture account clearing, financial status and cash flow forecasting data and also supports us in other work-intensive processes such as I/C and guarantee settlement.“

Carsten Linker
Head of Group Treasury, DNV GL, DNV GL

Outputs

  • Group-wide overview of financial status and cash flow forecasting
  • Structured I/C reporting and settlement process
  • Central availability of banking signature authorisations
  • Automatic distribution of clearing reports to subsidiaries
  • Settlement of commissions and fees for group-level guarantees
  • Interfaces to SAP, BOFC, ATAQ, Reuters
  • Ad-hoc status reports by means of an Excel add-in
  • Simple user account management: Hosted by Nomentia and using DNV GL’s internal user directory (single sign on)

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Nomentia has a hyper modular approach. Take only the solutions that you need and integrate them into your existing technology stack.

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We are the bridge between finance and treasury

SOLUTIONS

  • Payments
  • Liquidity
  • Reconciliation
  • Bank Account Management
  • In-House Banking
  • Bank Connectivity as a Service
  • Cash Flow Forecasting
  • Cash Visibility
  • Risk Management
  • Trade Finance
  • Reporting
  • Workflows

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