Ramirent Group Completes IT2 Implementation Phase 1

Ms Heli Iisakka, Ramirent Plc’s Chief Financial Officer, explains Ramirent’s investment in IT2: “The weakened market situation has highlighted the importance of effective treasury processes. We are able to hedge against risks more accurately and proactively than before, as time previously spent on reporting and document generation can now be used in analysis and planning.” Ms Iisakka states that Ramirent’s choice of IT2 was influenced by the knowledge that OpusCapita, the implementer of the Ramirent solution, is familiar with local requirements and customs.

Phase 1 of the Ramirent’s IT2 project provides an STP solution for external and internal funding, FX transactions and hedging, linking to the payments function. Phase 2, which is presently in progress, will connect Ramirent’s subsidiaries to Group Treasury using IT2 NET. This will automate the submission of cash forecasts and loan, deposit and currency trading requests to central treasury, and manage operational and monthly management reporting.

Petteri Järvinen, Group Cash Manager at Ramirent, describes how IT2’s unique process maps support accelerated, secure system implementation: “One of the strengths of IT2 is its process maps, which make it easy to model the treasury processes and, for example, the segregation of tasks as well as responsibilities between Front, Middle and Back Office functions. The system offers off-the-shelf best practice models, which can be used as templates when modifying treasury processes.”

Päivi Karesjoki, Regional Director of OpusCapita Finland, comments: “IT2 chose OpusCapita as business partner because we are a strong organisation whose local expertise and reputation are second to none – as the successful Ramirent treasury project clearly demonstrates.”

Enquiries regarding this announcement should be addressed to:
Päivi Karesjoki, Regional Director, +358 40 902 2212, paivi.karesjoki[at]opuscapita.com
Tiina Härkönen, CMO, +358 50 384 3162, tiina.harkonen[at]opuscapita.com

Ramirent Plc
The Ramirent Group (www.ramirent.com) is the leading equipment rental company for construction and industry in the Nordic countries, and in Central and Eastern Europe. Net sales in fiscal 2008 were EUR 703 million. Ramirent has 3,900 employees (2008), and operates 362 outlets in 13 countries.

OpusCapita Oy
OpusCapita (www.opuscapita.com) is the number one expert and leading provider of automated financial management solutions in the Baltic Sea region. OpusCapita customers include more than half of Finland's top 200 businesses and thousands of other companies and public sector organisations in Finland and other Nordic Countries. OpusCapita specialises in Cash Management, Invoice Management, Treasury Management and Integration Solutions, and its software is used in almost 50 countries around the world.

IT2 Treasury Solutions Limited
IT2 Treasury Solutions Limited (www.it2tms.com) is a specialist provider of best practice treasury management software, implementation and support services. IT2 systems are implemented in over 210 treasuries in Europe, the Americas, Africa and Asia, providing integrated best practice solutions for cash, treasury, treasury accounting, investment, asset management, funding and risk management.