Founded in 1901 and headquartered in Bilbao, Spain, Iberdrola generates, distributes, trades, and markets electricity worldwide.
As the world’s number-one producer of wind power1 , Iberdrola is also a forerunner in renewable energy technology2 .
Iberdrola’s history may stretch back over a century, but today the business has firmly established itself as an innovative supplier of low-carbon power all around the world. They asked J.P. Morgan to ensure their Treasury functions could keep pace with their fast-moving, forward-looking approach to energy production and sales.
Of paramount importance to us is the payment tracking functionality, instead of being on the phone to your different banks all day, you can call from your API and the information is at your fingertips.
The J.P. Morgan team hosted multiple agile client sessions to fully understand the challenges faced by Iberdrola. Very quickly there was a shared understanding that J.P. Morgan’s Treasury Services APIs could deliver significant value to Iberdrola’s Treasury, given their global presence across many different regions and time zones. As a result of this deep client insight, we were able to deliver a swift, effective solution specifically tailored to their needs.
The J.P. Morgan Real-Time Treasury application on SAP®, powered by APIs delivers:
This is a double first: Iberdrola is the first client to go live with the SAP® Real-Time Treasury app in EMEA and this is also our first API implementation in Iberia. We achieved this together, by working closely together as ‘one team’ throughout the COVID-19 lockdown, ensuring the implementation remained on track and there were no delays, despite the circumstances.
Once the technical implementation was completed, and the configuration of our corporate ERP (SAP) with the J.P. Morgan API was achieved, everything was very simple. Even more so, when you consider the great benefit that this API brings, in optimizing our Treasury by providing real-time access to balances for all the accounts of the Iberdrola Group in the U.S.
To learn more about how we can support your business, please contact your J.P. Morgan representative.
Kongsberg Automotive won the Harnessing the Power of Technology Adam Smith Award for their innovative cash management solution.
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