Why Eltel replaced their old TMS with Nomentia?

Eltel, a leading service provider for critical infrastructure in renewable energy and high-performing communication networks, has chosen to adopt Nomentia’s modular Treasury Management System. Nomentia’s modular solutions will provide Eltel with the flexibility to address critical treasury requirements efficiently.

Need for a new, more efficient treasury solution

With nearly a decade of reliance on their previous treasury system, Eltel recognized the need for a change. Their old TMS, designed for a different operational environment, was no longer best-suited for the company’s evolved treasury needs. By transitioning to Nomentia's modern and modular solutions, Eltel aims to increase efficiency, improve usability, and align its treasury systems with their actual needs.

“Our treasury operations have evolved significantly in recent years,” says Petri Monto, Group Treasurer at Eltel. “With the shift away from project-based business, our focus has become more straightforward, centered on key areas like cash positioning and risk mitigation. Nomentia’s agile, user-friendly, and modular approach is a perfect fit for our new requirements”

Nomentia’s treasury solutions are known for their practicality. Eltel was already using Nomentia’s tools, so when it came time to upgrade their old TMS, they knew Nomentia could deliver. According to Tea Jokipolvi, Cash manager at Eltel, “We’ve had positive experiences with Nomentia in the past, so we were already familiar with their strengths. The solutions are not only modern and user-friendly but also well-aligned with the needs of a treasury team that prioritizes agility and efficiency.”

A comprehensive search for the right fit

The journey to select the right TMS was thorough. Over six months, Eltel explored multiple solutions on the market before finalizing their choice. Key factors in their decision included Nomentia’s proactive reputation.

“We value how Nomentia listens to their customers and continuously works to improve their solutions,” Monto explains.

Benefits of Nomentia’s modular approach

By switching to Nomentia, Eltel expects to gain access to a suite of modular solutions that cater to their specific needs. These include liquidity management, deal management, cash forecasting, and risk management features. The transition will integrate Elte's finance and treasury systems, improving their daily workflows.

Looking ahead

As Eltel moves forward with the implementation of its new treasury solution, Nomentia will be there at every stage to ensure a seamless transition and support its evolving treasury management needs.

About Eltel

Eltel is the leading service provider for critical infrastructure that enables renewable energy and high-performing communication networks. Eltel designs, plans, builds and secures the operation of networks for a more sustainable and connected world today and for future generations. www.eltelgroup.com

About Nomentia  

Nomentia is a category leader within European treasury and cash management solutions. Nomentia’s mission is to provide unparalleled cloud treasury and cash management solutions for and with our customers.   

Today, Nomentia is solving the challenges of modern treasurers and cash managers across 1400+ businesses in over 80 countries, processing more than 1 trillion euros annually. Nomentia solutions specialize in global payments, bank connectivity-as-service, cash forecasting and visibility, bank account management, financial process automation, treasury workflows, FX risk, in-house banking, and trade finance. www.nomentia.com.