Structure your payment processes to increase efficiency
The payments landscape is experiencing a period of rapid change with the growth of e-commerce, increased regulations, regional payment initiatives and the growing use of technology such as robotic process automation and artificial intelligence. In this ever-changing environment where real-time and instant are becoming factors of daily business life, Nordea's expert team of advisers are ready to guide you towards the solutions that will support your business both now and in the future.
The right foundation that supports your daily activities
The needs for optimising your cash management set up will vary depending on your existing payments structure and future liquidity strategy. Choosing the right solution will enable you to centralise either your accounts payable and accounts receivable processes—or both—depending on your company size and requirements.
Nordea can support your company to achieve
Secure and stable bank connections to build your payment factories
Smooth and speedy payment processes, with a large geographical coverage
Optimised account and ledgers reconciliation in ERP and TMS systems, integrated with your cloud and e-commerce platforms
Enhanced visibility and liquidity across all cash positions, based on harmonised processes
To ensure the smooth integration of systems and to give you the best choice of messaging format, Nordea maintains a close dialogue with both global and domestic software-vendors of ERP and TM systems and collaborates with other partners within system-implementation, bank-communication and file-conversion services.
Working with Nordea on system integration can help you to
Gain a clear overview of your current systems so you can begin to optimise the best integration plan for your organisation
Improve internal resource allocation by reducing administrative work for your team and by reducing errors
Recognise the best ERP and TM systems for your organisation – and to build realistic timelines for integration so project costs do not overrun
Get up to speed with the latest regulations and integrate new standards for data format and messaging, such as ISO20022XML, new SWIFT developments and other initiatives
Plan for the future in terms of merging, migrating or updating your current ERP and TMS or moving to cloud-based systems, as a way of simplifying the system integration task
An implementation of a cash management solution can be a large and complex task and it requires highly committed resources and a well-structured processes. As soon as you reach an agreement to choose Nordea’s Cash Management offering, the implementation planning and timeline is agreed and a dedicated team is established. You will work closely with a team of specialists with specific knowledge and experience of your requirements that are dedicated to securing a structured process and high quality solution.
If you would like to find out more, contact your local Nordea adviser.
