Press Presse Press Presse - Financial Services - Siemens

Press Presse Press Presse
Financial Services
Munich, October 21, 2010
Treasury management system finavigate offers enhanced functionalities:
all the latest treasury related information (real-time) available at a glance
Siemens and its companies have about 3500 bank accounts at around 50 core banks
located in more than 100 countries. At least 11 million money transfers in various
currencies are made annually. Finavigate, the treasury management system developed by
Siemens Financial Services (SFS), has for years guaranteed an overview of all the payments
processed through central Treasury. External customers benefit from this as well, in
particular international companies with annual sales of €200 million or more. With enhanced
functionalities in the areas of risk management, liquidity planning and reporting, SFS is now
offering a fully integrated management system for all the needs of group financing.
“Siemens has been using finavigate for many years. What’s special about this treasury
management system is that finavigate was developed in the Group’s treasury department. As a
result, it is ideally tailored to the operational requirements of treasuries,” says Hans-Peter
Rupprecht, Corporate Treasurer at Siemens.
Finavigate makes it possible to centrally handle all internal and external payment transactions as
well as cash management, liquidity planning and the centralized oversight of all interest-rate,
currency, liquidity and credit risks. The treasury management system ensures that all relevant data
pertaining to the overall business are both current and complete and that all the business’
companies can work from the same database. The system interfaces with the local accounting
systems as well as with major international banks.
Now all finavigate users have access to enhanced functionalities in the modules risk management
and liquidity planning and can use a reporting cockpit (overview of all central figures at a glance).
The risk management module has been enhanced with the Portfolio Risk Management System
(PMS) from much-net AG, an SFS cooperation partner and external provider of modular standard
software for businesses, banks, insurers and investment companies. This feature enables
Siemens AG
Corporate Communications and Government Affairs
Wittelsbacherplatz 2, 80333 Munich
Germany
Reference number: SFS2010.10.08 e fp
Media Relations: Markus Wierl
Telephone: +49 89 636-31565
E-mail: markus.wierl@siemens.com
Siemens Financial Services GmbH
Otto-Hahn-Ring 6, 81739 Munich, Germany
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corporate groups to more quickly identify and measure all kinds of financial risks they face. In this
way, it supports customers to take steps to minimize their risks.
"International businesses use market financing activities to hedge against the currency, interestrate
and credit risks they face. Finavigate now gives treasurers an up-to-date overview of the risks
along with suitable hedging options,” explains Ramin Ghafari, Head of Treasury Solutions &
Consulting at Siemens Financial Services.
The application liquidity planning makes it possible for treasuries to not only present as-is figures
but also gather and prepare the target figures (plan figures) of various group companies.
Complementing short- and mid-term liquidity management, this yields a long-term view of the
liquidity and currency risk situation for the overall company and its subsidiaries.
Finavigate’s reporting cockpit clearly displays all the key figures that treasury needs, giving
treasury and top management a comprehensive and graphic presentation of information for
coordinating the management of the company’s finances.
Finavigate is offered by Siemens as a Web-based solution (SaS naming Software as a Service)
and is quick and easy to implement, independent of any specific hardware and available
everywhere. With this approach, customers do not have to install any software themselves. Data
entry and presentation of pertinent figures are carried out online using the safest security settings
possible.
The Siemens cross sector Financial Services (SFS) is an international provider of financial solutions in the businessto-business
area. With about 2,000 employees and an international network of financial companies coordinated by
Siemens Financial Services GmbH, Munich, SFS supports Siemens as well as non-affiliated companies, focusing on the
three sectors of energy, industry and healthcare. SFS finances infrastructure, equipment and working capital and act as
a competent manager of financial risks within Siemens. For more information see: www.siemens.com/finance.
much-net AG is a supplier of standard software and services for corporations, capital investment companies, insurance
companies, banks and financial services providers and has almost 30 years of experience in development, maintenance,
support and sales. Headquartered in Bonn, the company was founded in 1982 and converted to a public limited company
in May 2000. Currently, around 35 employees located in Germany and about 40 employees in Bulgaria work for muchnet’s
customers in Germany, Austria, Switzerland, Luxemburg, Great Britain and Bulgaria.
Siemens AG
Corporate Communications and Government Affairs
Wittelsbacherplatz 2, 80333 Munich
Germany
Reference number: SFS2010.10.08 e fp
Media Relations: Markus Wierl
Telephone: +49 89 636-31565
E-mail: markus.wierl@siemens.com
Siemens Financial Services GmbH
Otto-Hahn-Ring 6, 81739 Munich, Germany
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