Valmet

About Valmet

Valmet is a leading global developer and supplier of process technologies, automation and services for the pulp, paper, and energy industries, and with its automation and flow control solutions Valmet serves an even wider base of process industries. More than 19,000 professionals around the world work close to customers and are committed to moving customers’ performance forward - every day.

The company has over 220 years of industrial history and a strong track record in continuous improvement and renewal. Valmet’s net sales in 2023 were approximately EUR 5.5 billion.
Valmet’s shares are listed on the Nasdaq Helsinki and the head office is in Espoo, Finland. 

“In a rapidly evolving business environment, we must continuously enhance our technologies and processes,” says Tiina Heiniö, Global Process Owner, O2C at Valmet. “This demands profound technical expertise and a firm determination to boost efficiency.”

Key requirements for a global payment process: Compliance, harmonization, bank connectivity, transparency, and cash flow tracking

As a global organization Valmet has a demand to manage a wide variety of payments. The complexities of harmonizing payment processes across different regions, ensuring seamless bank connectivity, and tracking financial transactions in real-time can be overwhelming without the appropriate tools.

Without Nomentia’s Cash Management solutions, Valmet would operate in a fragmented environment, relying on a mix of various banking systems, portals, and manual finance processes. Such inefficiencies would result in high effort, delays, and increased exposure to operational risks and human error.

“If we didn’t have Nomentia, we’d struggle with payment operations spread across various platforms. This would make payments and related financial accounting and reconciliation processes inefficient and time-consuming, slowing down our ability to monitor global cash flow,” says Tiina Heiniö. “In today’s business environment, that’s simply not an option.”

“In today’s business environment, inefficient and time-consuming payments and reconciliation processes simply are not an option.” - Tiina Heiniö, Global Process Owner, O2C at Valmet

To overcome the challenges and bottlenecks of a complex global banking infrastructure and payment processes, Valmet chose a robust, centralized payment solution. This decision ensures consistency and accuracy across Valmet’s extensive operations. This is why Valmet chose Nomentia.

The Nomentia solution for global and harmonized payment operations

Valmet’s decision to implement Nomentia Payments was driven by the need for a reliable backbone to manage its global outgoing cash flows and payment operations. Nomentia’s ability to connect seamlessly with Valmet’s ERP systems and global banking partners was a decisive factor, enabling them to streamline their cash flow and payment management processes.

“We chose Nomentia because it supported the expanding global infrastructure we needed,” says Antti Puttonen, Senior Service Manager of Finance Solutions at Valmet.

“The integration with our ERP system allowed us to implement automated payment processes that support all our regions. Thanks to Nomentia, we don’t have to worry about regional discrepancies or inefficiencies in payments.”- Antti Puttonen, Senior Service Manager of Finance Solutions at Valmet.

Bank connectivity was another key driver for Valmet’s choice. Through Nomentia’s SWIFT connectivity, Valmet was able to ensure smooth and secure communication with its worldwide banking partners. This connectivity speeds up processing times and guarantees that payment policies are consistently applied across the organization.

“Nomentia’s SWIFT connectivity has truly improved our global operations. Having a direct line to our core banking partners speeds up the implementation process,” adds Puttonen.

Increased automation in payment processing has also had a profound impact on Valmet’s finance operations. By automating cash transactions, Valmet has significantly reduced manual intervention.

“The automation Nomentia provides means that our financial teams can focus on more strategic activities instead of being tied up with manual payment processes,” notes Heiniö. “Automating payments means improvements in both the speed and accuracy of our payment operations.”

Experts in payment file conversion supporting global expansion

As Valmet has expanded its global operations, Nomentia has been pivotal in helping the company manage the complexities of payments in different regions. Nomentia’s expertise in payment process harmonization and file conversion automation has enabled Valmet to enroll new business units with ease.

“Expanding into new markets means adapting to various country-specific regulations and payment types,” explains Otto Lankia, IT Service Manager of Cash Management Solutions at Valmet. “Nomentia’s library of payment file conversions has been essential in making that transition smooth for us. It would have been far more complex and time-consuming without their support."

The ability to standardize payment processes across nearly thirty countries while accommodating local variations has given Valmet a unique advantage in maintaining operational control and efficiency. Nomentia’s capabilities in payment file conversions have ensured that Valmet can scale its operations without sacrificing accuracy or speed.

“Nomentia’s ability to support country rollouts in new regions has been a great benefit for us,” says Lankia. “It provides the flexibility we need to ensure our global payment processes remain uniform, no matter the market.”

Trusted support for demanding requirements

While technological solutions are essential, having reliable support is equally critical, especially when dealing with high-pressure financial operations. Valmet has found Nomentia’s customer support team to be an indispensable resource in ensuring the system’s stability and effectiveness, particularly during time-sensitive periods.

“If issues occur during month-end closing or with other strict financial deadlines, Nomentia’s team is there to support us,” notes Heiniö. “They understand the urgency and complexity of our needs, and their responsiveness has been a key factor in our success.”

Both Puttonen and Lankia emphasize the importance of expert support, particularly when unexpected challenges arise. Valmet’s reliance on Nomentia’s support team has enabled them to resolve issues swiftly and minimize any potential disruptions.

“Having a trusted partner who not only provides a solution but also understands our way to operate makes all the difference,” says Puttonen. “It’s not just about technology—it’s about the people who stand behind it and ensure it runs smoothly.”

“Having a trusted partner who not only provides a solution but also understands our way to operate makes all the difference.” - Antti Puttonen, Senior Service Manager of Finance Solutions at Valmet

Payment and cash management harmonization with Nomentia

Nomentia’s solution has significantly improved the payment and cash management process In Valmet’s Global Financial Operations. Nomentia provides Valmet with a unified platform that harmonizes payments and cash management processes across nearly thirty countries. From bank connectivity and automation to expert file conversion and dedicated support, Nomentia has enabled Valmet to streamline its payment operations, increase efficiency, and support future growth.

“Thanks to Nomentia, we have a harmonized payment infrastructure that scales with us,” concludes Heiniö. “It has allowed us to standardize processes, centralize operations, and reduce manual effort.”

The partnership between Valmet and Nomentia showcases how a well-implemented cash management solution can not only improve operational efficiency but also provide the foundation for long-term success. As Valmet moves forward, Nomentia is a key enabler of its world class financial operations.