JOURNAL Spring 2016
You can access the articles below, or read the e-magazine version here ››
We all know about ecosystems. Most of us, or the women at least, also know about the little black dress that was introduced by Coco Chanel in the late 1920s and that has been reinvented every decade ever since. Connecting these two is not as far-fetched as you might first think. Chanel’s ‘Petite robe noir’ is the icon of Chanel’s disruptive clothing philosophy, which totally revolutionized women’s fashion and clothing industries. What the little black dress did for women’s clothing, the digital ecosystem will do for all of us: it will provide new business models and assist our daily lives.
Governments have a crucial role in building the infrastructure for digital economy and speeding up its development. The State Treasury of Finland has collaborated with OpusCapita for well over ten years in building electronic invoicing processes. “The digital transformation of our financial management will play a major role in the digitalization of Finland’s public administration in general,” says Mikko Kangaspunta, Head of Division, Financial and Personnel Administration, State Treasury.
How did the global financial crisis affect supply chains? And what are the biggest challenges that the procurement functions of international corporations need to be prepared to mitigate in the future? OpusCapita Journal interviewed a specialist in this area, Daniel Weise, Procurement Expert, Partner & Managing Director at Boston Consulting Group, Düsseldorf.
“The world has been highly dynamic and volatile over the last decade, and we have witnessed dramatically different developments in different regions and in different industries. The crisis mode seems to be going from one country to another almost overnight – just remember the financial crisis in Greece, the Ukraine/Russia conflict and the resulting sanctions, or the stalling growth of China,” says Procurement Expert Daniel Weise.
To succeed in the new, networked economy, corporations need to expand their view outside their own walls – to interaction and above all to high-quality relations. “I believe many companies have a vast amount of learning debt. The gap between those companies that are already utilizing the new opportunities and those that are only thinking about their digital strategies is growing all the time in leaps and bounds,” says Kilpi.
The current industrial age ideal where people are experts in one field is likely to be replaced by expertise in two or three fields. This will be a challenge for the educational systems as well as companies’ skills development.
Janeka Rauva, CFO of Tallink Silja Oy, explains that the transformation of knowledge work equips the finance department with improved tools that truly support business operations, which has always been the role that modern financial management has wanted to achieve. The CFO has become a manager of change.
In order-to-cash, cash is king. The faster a company can turn a customer’s order into cash on hand, the better. But wait – isn’t the customer supposed to be king? Delivering a superior customer experience along the order -to-cash chain is crucial to maintain the good customer relationship, to generate new sales and to gain a good reputation.
The possibility to adjust the collection activities to each customer’s individual situation was a decisive factor when Ahlsell, the Nordic region’s leading technical trading company, chose its new debt collection service provider in Sweden.
The lack of low cost working capital, lengthening payment terms, pressure to raise procurement prices – all make it difficult for the wheels of the supply chain to run smoothly. To decrease the friction, the postal and logistics services provider Posti Group launched a supply chain finance program in cooperation with OpusCapita.
When Posti Group made the decision to launch the supply chain finance program it also looked into the traditional supply chain finance solutions offered by banks. After comparing the options, Posti chose OpusCapita as its partner for many reasons.
The wheels on the trucks go round and round… The director of the transport company specializing in contract and food deliveries explains that it is also very important for the cash to circulate in the transport sector, especially as purchasers’ payment terms to suppliers have lengthened in the sector in general over recent years.
OpusCapita participates actively in developing the interoperability of e-invoicing ecosystem and driving the implementation of compliant public policies and harmonized standards.