Blog
Jul
06
How Well Do You Sleep at Night? Are Your Global Cash Flows Safe From Cybercrime and Fraud?
Despite all the recent talk concerning cybercrime and fraud, surprisingly many corporates are still unaware of the risks, or strikingly unprepared to mitigate these risks.
Payment fraud is an ever increasing part of doing business and though we are all aware that it is occurring, we often do not understand the size and scale of the problem.
In the following blog post I’ll try to summarize my thinking on the recent report produced by SSON and OpusCapita titled Indirect Procurement: 2017 Market Report.
Web-based procurement (or eProcurement) was originally seen first and foremost as a better way to order catalog products than with older desktop-based procurement systems.
Have you already found out how to take the most out of digitalization? Perhaps you have already set a goal to make your office and customer related processes paper free?
In less than 300 days, EU member states need to have implemented the Revised Payment Services Directive (PSD2) into their legislation. Change in the financial industry is evident.
MRO management is a balancing act that demands a modern procurement platform with workflow automation. It’s about allocating and managing resources as efficiently as possible.
When operations are demanding and time is of the essence, an effective procurement process should bring simplicity and peace of mind.
There is a Finnish saying that if you try and steer your car forward by looking into the rear view mirror, you’ll probably encounter some unintended off-road terrain.
I bet all of you have either been or seen that guy in a department store, sitting on the courtesy couch (love that couch!) near the changing rooms waiting for his wife.
There’s an HBO drama called ‘House of Lies’. The series is entertaining, but plays on many of the negative stereotypes that prevail about management consultants.
The PEPPOL network is expanding rapidly in different parts of Europe. If you are not yet familiar with this acronym, I encourage you to take a closer look.
Mar
06
Concrete steps for fraud prevention in your organization - Five measures you can take right now
The key to fighting of cyber attacks lies within careful combining technological and human measures. It all starts with a strong corporate culture.
Feb
28
C-level fraud or when you are asked to make this money transfer asap! A look at common forms of cyber fraud
Please make this money transfer fast! This or similar might be the start of an email that brings us directly into one of fastest growing forms of cyber fraud, namely CEO fraud.
Digital transformation is the talk of the town, or should we say industry. Left and right you read about it, and you hear that if you ignore it your business is doomed to fail.
Having worked with various types of companies for years, I have noticed that companies manage their documents in a surprisingly decentralized manner.
Managing electronic documents incorrectly can cause your company a number of problems, the most serious of which is that you may even be breaking the law.
After reading the Bruno Koch's report on e-invoicing, I’m a little disappointed. Not with the report, but with the incremental (some might say sluggish) growth of e-invoicing.
Even when a company has achieved its dream of 100% digitalization, it is unlikely that the situation will remain static. It is natural to change suppliers and get new customers.
It’s no secret that the invoice handling process in best-in-class organizations operates like clockwork. But just how do they achieve this?
Nov
04
Towards a successful digital business network – Step 4: The target is 100% digitalization
by Heikki Pulli
it is time to think about expanding the service to cover your entire business network and thus achieve the business benefits that were defined at the start.
In today’s digital economy, it’s essential for companies to have a data management strategy. But where should you start? What goals should you set?
Developments in invoice processing have made the practice easier and faster than before, but have also made it more challenging for accounts payable to improve at the same pace.
Recently, the European E-invoicing Service Providers Association EESPA reported that over 1,25 billion electronic invoices were processed and delivered by its members last year.
Oct
18
Toward a successful digital business network – Step 3: First practical measures
by Heikki Pulli
The quickest achievable benefits provide a good starting point for practical measures. In the first stage, the measures should be limited to the five main ones.
The fourth industrial revolution is under way, and technology is advancing in leaps and bounds. Technological trends mean changes to companies’ purchasing and payment processes.
The next decision you need to make is which type of organization to use in the transformation to digital processes and which type of technology to use to enable digitalization.
I promised to discuss the five most important steps in creating a digital business network. The first one is to focus on planning and creating a model of what you want to achieve.
What would you do if you could start your current business or company anew, right from the start? This is the question to ask now.
There is no denying that summer is over. In the fall cranes migrate to better climate zones. Businesses could actually learn a great deal from wedges of cranes.
Robotic Process Automation, Machine Learning and Artificial Intelligence revolutionize knowledge work. Do these technologies seem like futuristic visions to you? Think again!
Are you keen on e-invoicing? If yes, then PEPPOL (Pan-European Public Procurement Online) probably is on your radar screen already. If it is not, I suggest that you look into it.
Mar
11
Why bank connectivity as a service wins over the traditional software approach
You can’t be in business without having a relationship with at least one bank. Every corporate has had to solve their bank connectivity somehow.
Did you make any New Year’s resolutions this year? No? Then maybe I can make a suggestion: perhaps you should decide to stop receiving paper invoices.
Feb
22
What’s on top of the CPOs’ mind? Top 5 takeaways from the Nordic Strategy Forum
I and some fellow opuscapitans participated in the Nordic Strategy Forum CPO in Riga. I thought I would share with you my key takeaways from the event.
Nov
20
How Well Do You Sleep at Night? Are Your Global Cash Flows Safe From Cybercrime and Fraud?
Many of us have read and witnessed how cybercrime and fraud has become one of the most significant risk management topics for corporates. However, des
Nov
18
Robotics powered Finance & Accounting – how to get started?
KPMG recently published an attention-grabbing paper “Bots in the Back Office: BPO withers as RPA grows”, predicting end of Business
Process Outsour
GLOBALIZATION was “thee” word back in the 90s. It didn’t only mean going global, but being global. Around the same, the term Shared services also ente
Last week I questioned recent survey results which stated that outsourcing in mid-market is moving slowly. My experience has been the opposite. Outsou
BDO and Suomen Taloushallintoliitto ry recently published a report in which 120 CFO’s from medium-sized Finnish companies were interviewed. According
For many of us standardization is not that much of a topic in everyday life. Until you start thinking of the benefits of standardization.
Here, have a look at a list of features of a top-notch mobile device:
Idean’s CEO Risto Lähdesmäki talks in the latest issue of OpusCapita Journal about the importance of user experience as a competitive advantage in tod
Do you ever wonder what is eating up your company’s money? Your net sales are good, and you have been cutting costs, but somehow your profits just see
Just a few weeks ago I received a text message ordering a small bouquet of flowers. The message instructed that the flowers used in the bouquet should
This week I was reading a thought-provoking article from the leading Finnish newspaper, Helsingin Sanomat. In the article columnist Maaret Kallio was
OpusCapita’s new solution for supply chain financing makes it possible for the suppliers to get paid in a matter of days instead of waiting for dozens
Feb
23
Bad, bad debts! DSO is a good indicator of the efficiency of sales receivables management
Kimmo Kauranen, Vice President, O2C Business, OpusCapita, urges companies to beat lazy money out of its hiding places and into action.
Software robotics provides the opportunity to improve the quality and efficiency of processes in financial management almost immediately. But how to r
Friday the 13th was definitely unlucky day for me: When driving in the evening in Warsaw my car broke down, suddenly all the lights in the car (inside
The decision to start a supply chain finance program is based increasingly on strategic reasons in large purchasing corporations, says Michiel Steeman
There’s a huge difference in the level B2C companies have embraced communication via e-channels. For example, more than half of all B2C invoices are s
Companies are now actively seeking global payment factory solutions for international cash management that meet their needs.
Dec
12
Internationally, there is a very clear trend towards outsourcing. Yet Swedish companies have adopted a wait-and-see approach and are therefore at risk
In the summer of 2014, OpusCapita investigated the outlook regarding companies’ lengthening payment terms in Finland and abroad. The gradual lengtheni
The challenging economic situation is punishing companies in Finnish and international competitive arenas. The significance of working capital is rapi
This is what Tom Bangemann, The Hackett Group, told a reporter when he was interviewed for OpusCapita’s customer magazine Journal: “Up to now, automat
When the CFO or CIO of a mid-segment company hears that their software supplier or service provider has been acquired, many questions are sure to aris
Intelligent robotic systems are set to revolutionize corporate financial management practices. Company boards are also soon likely to feature a robot-
SWIFT’s new “Alliance Lite 2 for Business applications” program allows selected providers to embed SWIFT Alliance Lite 2 connectivity into a single pa
Recently OpusCapita carried out a study of the payment terms offered by the biggest companies in the Nordic countries. The study showed that payment t
Dec
31
Companies would increase their agility and gain synergy benefits by comprehensively improving and streamlining their purchase-to-pay functions. This w
The process of decision making for invoice automation in Poland can be presented based on the real case of one Polish retail chains that is very moder
An increasing volume of letters is delivered to recipients in digital format, but printed letters continue to be popular due to the fact that the rece