“This enables us to have efficient and centralised control”
VIDEO | A decisive centralisation effort has revolutionised the cash handling at Norwegian energy giant Statkraft over the last three years. On stage in Copenhagen on Thursday, Vice President and Head of Cash Management Stian Salomonsen shared insight into his change case.
The session was sponsored by BNP Paribas.
It was an awkward setup – not to mention risky. With 69 banks and 500 external bank accounts in 2019, Statkraft knew things needed to be coordinated. An implementation project later, the treasury has near-100 percent cash visibility, in just one system. FX has gone from local handling to a coordinated front-office task, and cash is pooled better.
All-in-all referred to as an in-house bank, the new setup applies “pobo” (payments-on-behalf-of) in Europe, and “pino” (payments-in-the-name-of) elsewhere.
“This enables us to have efficient and centralised control”
On Thursday, Stian shared the stage with Jan Dirk van Beusekom, Head of Strategic Marketing for Cash Management, Trade Solutions & Factoring, BNP Paribas.
Treasury 360° Nordic 2022, on 9 June, gathered nearly 300 delegates at Clarion Hotel Copenhagen Airport, and 100 online.
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