Iberdrola optimizes working capital with SAP® Real-Time Treasury
World’s Number 1 producer of wind power also leads the way in treasury, as the first in EMEA to integrate J.P. Morgan’s SAP® Real-Time Treasury app.
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.
- Historically, Iberdrola would rely on once-a-day statements for visibility of their balances and transactions. To locate payments, Iberdrola had to log onto an e-banking portal or call J.P. Morgan directly
- It had become imperative for Iberdrola to have real-time visibility of their balances globally. They have grown the company through a series of acquisitions in recent years, particularly across the US, Mexico and Brazil and recently also in Australia. Iberdrola needed to centralise their reporting across these new markets to give them more accurate insight into their global cash position
- The need for greater data transparency was linked to the ongoing digital transformation of their treasury, through which Iberdrola was looking to optimise working capital. It was also important for the company to increase flexibility so it could respond to rapid changes in the macro environment
Iker Goenaga, Transactional Treasurer at Iberdrola.
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:
- Bank reporting and SAP® reconciliation in real-time, across their J.P. Morgan accounts globally
- Payment tracking utilising SWIFT gpi from initiation to receipt by final beneficiary
- Clear visibility of user status and entitlements
Mario Benedict, Head of APIs and Open Banking, EMEA, Digital Solutions, Wholesale Payments, J.P. Morgan.
Joseba Dominguez, Treasury Implementation Manager at Iberdrola
To learn more about how we can support your business, please contact your J.P. Morgan representative.
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