Day and night, this is how Hydro’s transaction data flow in
VIDEO | Using APIs, Norwegian energy group Norsk Hydro has set up connections to make its bank transactions reflect in the group’s ERP system in real time granting instant and global visibility of balances and transactions. On stage with Treasury 360° Nordic in Malmö, Cash Management Manager Erik Snersrud presented the drivers behind the solution, the process to build and deploy the tool in collaboration with banks and fintech providers, and where the outcome is currently at. See his session here.
The solution helps the group leverage information to support better and faster cash and credit management decisions, also bearing on the commercial client relations. The real-time reconciliations, including accounts receivable and payable, represent a movement away from batch processing based on intra-day or prior-day statement reporting.
Erik Snersrud is Manager Cash Management, Global Process Owner Payments, Norsk Hydro. In the Malmö programme on 20 April, he was joined on stage by Pål Bagstevold, Managing Director, Nasarius Norway, and Aravindh Prasanna, Managing Director, Findroids.
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