“Versatile and User-friendly”
“It is hard for me to imagine how a treasury could manage without a system solution. The standardisation of operating methods and processes alone is such a benefit that it advocates the acquisition of such a system. In addition, a closed system environment significantly decreases the possibility of human error, and in the current market situation, the need for accurate and up-to-date information is emphasised even more”, says Financial Director, Tom Erander, of Huhtamäki Oyj.
Huhtamäki is one of the largest manufacturers of consumer and speciality packaging, and its Group treasury, operating in the Group headquarters in Espoo, Finland, has used the IT2 Treasury Management system since 1998, and prior to that, the software’s DOS-based predecessor, IT+.
“When selecting the software, the benefits of IT2 included its versatile instrument selection, user-friendly report generator, excellent process management tools and modularity. Also, over the years the system has been actively developed.”
The five-person group treasury staff of Huhtamäki caters for the entire Group’s cash management, internal and external financing and foreign exchange and interest rate management. Huhtamäki operates globally in 35 countries and has 65 factories around the world. In 2007, its net revenue reached EUR 2.3 billion.
“I find that one of the most important characteristics of IT2 is its user-friendliness and clarity. For example, our treasury can create new reports for our own needs and we have never needed the help of the system supplier or even that of our own IT department,” Mr. Erander praises.
He continues: “Our system includes the handling of interest and currency derivatives, risk analysis and intercompany netting. In addition to the automation and timing of reporting, treasury accounting is extensively automated, and we could utilise automated features even more extensively. Furthermore, the system’s process maps are extremely useful as they actually function as a manual on how our treasury operates and create transparency for its processes.”
Tom Erander was pleased to hear about the cooperation between OpusCapita and the British IT2 Treasury Solutions Limited, and enthuses that, in the future, support will be both close by and available from a company that is familiar with the needs and operating environment of Nordic, multinational firms.
“I am sure that a chat connection will create added value, and also find it positive that the IT2 system will gain new users in the Nordic Countries. So far, we have been among the happy few. Since Nordic companies have a similar approach to treasury issues, a local IT2 user forum is sure to prove useful”, Mr. Erander concludes.
