#Global Trade #Switzerland #Geneva #ANDRITZ #Komgo

ANDRITZ Implements GTK by Komgo for Enhanced Global Trade Financing

In a significant move towards digitization and process harmonization, ANDRITZ, a global leader in solutions for various industries including pulp and paper, metals, and hydropower, has selected GTK (Global Trade Konnect) from Komgo as its global multibanking trade finance platform. Known internally as "Global Trade by Komgo," this innovative tool centralizes trade financing management, encompassing guarantees, letters of credit, and credit risk insurance, all within a single digital interface. Moreover, it ensures a secure communication layer connecting financial institutions worldwide.

Accelerating Digital Transformation

The implementation of GTK is currently underway, with three pilot entities onboard and an expected 300 users spanning across 40 countries. This strategic choice aims to digitize communications with over 30 financial partners, which include banks, brokers, and insurers. By consolidating operations into one comprehensive system featuring structured data and automated workflows, GTK allows for faster, safer, and more transparent execution of cross-border transactions.

Minna Helppi, SVP of Group Finance at ANDRITZ, emphasized the transformative potential of GTK: "GTK represents a new stage in our commitment to digitization, process harmonization, and operational excellence in line with our strategic goals. It helps us work more intelligently on a global scale, ensuring we deliver value through modern and effective tools."

Enterprise-wide Impact

For ANDRITZ as a whole, GTK guarantees a consistent global approach to trade finance management, reducing errors through automation and enhancing the precision and transparency of data. It proactively addresses risks and timelines with alerts and reports, which is crucial for timely decision-making. Different legal entities within the company will adopt identical streamlined workflows and gain real-time insights into credit line usage and approval flows. This frees up teams from administrative tasks, allowing them to shift focus onto more value-added activities.

Enhancing Employee Experience

The introduction of GTK simplifies processes and improves user-friendliness, with well-defined responsibilities bolstered by training initiatives. Furthermore, it consolidates document storage and communications, thereby enhancing collaboration across regions and functions. The result is a more efficient work environment, contributing positively to employee satisfaction and productivity.

About ANDRITZ

ANDRITZ is recognized as a global supplier of solutions for the pulp and paper, metals, hydropower, environmental, and energy sectors. With a commitment to creating significant growth for businesses, individuals, and our planet, ANDRITZ embraces innovative technologies to aid industries worldwide in improving efficiency, reducing waste, and minimizing emissions aimed at fostering a greener economy.

About Komgo

Komgo is a Swiss-based fintech specializing in secure, interoperable solutions for digital trade finance. The GTK application serves as a unified platform that connects businesses and financial institutions around the globe, facilitating structured data exchange and automated workflows within a multibanking framework.

In conclusion, with the adoption of GTK, ANDRITZ not only enhances its operational capabilities but also reinforces its strategic vision of a more sustainable and efficient trade financing landscape in conjunction with its partners.