Nomentia acquires TIPCO: What does this mean for treasury and finance teams?
Known for its excellence in cash and treasury management solutions, Nomentia recently revealed the acquisition of the Austria-based TIPCO Treasury & Technology to merge the two companies’ product portfolios. The two companies said they will offer the widest variety of cash and treasury management solutions for their future and current clients.
Stronger together: shared mission and exceptional solutions
The acquisition of TIPCO has happened at a pivotal time in Nomentia’s long-standing history. The company has been the market leader in the Nordics for decades and during the past year, Nomentia has been accelerating its growth in Europe, especially in the DACH and Benelux markets.
TIPCO is widely known for its excellence in providing treasury management solutions for treasuries by treasury experts. In the future, TIPCO’s Treasury Information Platform (TIP) will complement Nomentia’s cash management solutions.
“Nomentia and TIPCO both share the same mission: we want to provide unparalleled cloud treasury and cash management solutions for and with our clients. As Nomentia has been rapidly increasing its customer base in the Nordics, as well as in the DACH and Benelux regions, adding TIP to our portfolio enhances our ability to better serve customers in our current markets and also expand into new territories.”, says Jukka Sallinen, CEO of Nomentia.
Acquiring TIPCO means that Nomentia has one of the strongest treasury and cash management product portfolios in the market for finance and treasury teams to benefit from.
Anna-Lisa Natchev, Chief Growth Officer of Nomentia, commented “Organizations want to capitalize on digitalization to build better treasury processes, improve data quality and expand the flexibility of data analysis for better decision-making. Today, a strategic focus in treasury operations that embraces exceptional technology will help to automate and optimize processes, improve security, and add business value.”
Cash and treasury management excellence is fundamental for operational success
In a recent Forrester study commissioned by Nomentia, global treasury, finance, and IT stakeholders across multiple industries have agreed that the digitalization of treasury processes cannot wait any longer. Improving treasury processes with technology is a prerequisite for realizing hidden cash or developing forecasting accuracy for decision-making. To remain competitive, increasing organizational flexibility is necessary to be able to follow the company’s cash position accurately. Naturally, one cannot forget about the complexity of the undertaking of improving treasury processes and workflows. The integration of systems and information from all the right data sources is a tremendous task that requires IT involvement. At the same time, all the processes must be compliant, and a strong security layer is a must to avoid financial fraud.
“TIPCO has been known for its high-quality of solutions and services, as well as our IT skills and treasury expertise. Together with Nomentia, we will future-proof the treasury roadmaps of our clients”, says Hubert Rappold of TIPCO Treasury & Technology.
One of the widest offerings of treasury and cash management solutions on the market: pick the solutions you need!
To improve processes with minimal frictions, enterprises need to reap the benefits of cloud-based treasury and cash management technologies. Nomentia’s latest move on merging the product portfolios of the two companies is a smart move and couldn’t have happened at a better time: enterprises are embarking on the new journey of treasury digitalization need a shop that provides a wide variety of solutions that they can adapt at their own pace and according to their own preferences instead of investing in a one-size-fits-all solution. The company’s solution portfolio now includes payments, cash flow forecasting and cash visibility, bank account management, matching, in-house banking, trade finance, risk management, bank relationship management, treasury reporting, workflows, and guidelines. Customers can choose the solutions and features they need for their specific use cases and they can easily add more as they are developing their processes.
Fighting fraud: payment anomaly detection coming soon
Soon, more good news is coming from Nomentia on the product front. Besides merging the two product portfolios of the two companies, Nomentia is going to announce soon a new engine for payment anomaly detection for its customers for secure and safe payment processing.