OpusCapita hosted a training event for treasurers on the IT2 Treasury Management System
The financial crisis has pushed treasury into the spotlight as never before, as Boards demand enterprise-wide visibility of cash and of financial risk, such as counterparty exposures. Many Nordic companies answer to these challenges with the IT2 Treasury System. Here do education and training play an important role.
The first IT2 Academy in Finland, hosted by IT2 supplier Opus Capita, was held in Helsinki in February. Before that, IT2 training courses have been delivered in South Africa, the United States, the Middle East, Benelux and Norway. Mr. Pinder Grewal, the IT2 Academy Manager at the IT2 Academy in Helsinki, sees some differences between treasurers’ demands around the world.
“There are special demands in the North American domestic cash management, for example in terms of current and prior day bank balance and transaction report management, in bank account reconciliation techniques and in cash accounting requirements,” says Mr. Grewal. He continues: “In China, there is an emerging interest in treasury management systems, as the regulation of cash management and FX is officially relaxed, and as treasurers become aware of the shortcomings of spreadsheets and ERP systems. We can also say without exaggeration that Nordic region treasurers are among the most advanced in the world.”
The trainees at the first IT2 Academy in Finland were beginners as well as more experienced users. To Mr. Jarmo Lappalainen, Director of Treasury of Tikkurila Oyj, the two-day course was an efficient introduction to using the new treasury system. According to Mr. Lappalainen, the system will play an important role when Tikkurila will be listed on the HEX this spring. Ms. Kirsi Makkonen, Financial Assistant of Huhtamaki Group, who already has an extensive experience of IT2, found the education most useful: “ I got useful information about some sub-areas of the IT2 that I do not use on daily bases, thus the two days gave me a good understanding of IT2 system in total”.
The IT2 Academy simulates live operations and shows treasurers how to work with highly automated and transparent workflows, which update graphically in real time with status counts and intervention warnings.
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