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Establishing a Single Finance Platform for All Treasury Operations with Vattenfall

An interview with Sabine Raschke, Senior SAP Treasury Consultant, Vattenfall Europe Information Services GmbH

Could you give us a brief outline about the company and describe the role of your treasury function?

Vattenfall is one of Europe’s largest generators of electricity and heat. The company is 100% owned by Kingdom of Sweden and operates mainly in Denmark, Finland, Germany, The Netherlands, Sweden and the UK. The main products are electricity, heat, gas and energy services. Due to strong energy markets Vattenfall is currently being transformed from a traditional utility to a customer-focused, lean and responsive organisation

I work as a Senior SAP Treasury consultant in the German IT company of Vattenfall and I’m responsible for all treasury related processes, mainly on our SAP treasury system as well as on the connected SAP ERP and non-SAP systems. I provide solutions in this area and also have a role in implementing projects related to treasury and maintaining our treasury system.

What prompted the decision to establish a single finance platform for all treasury operations?

Treasury was providing services for about 300 legal entities in eight countries in 2010. An integrated group treasury function was established, but there were various issues with integrated or straight-through processing because of the different financial IT systems, different levels of automation, a great variety of external/internal interfaces for finance and treasury and different accountability.