ANDRITZ Launches Global Multi-Bank Trade Finance Solution with Komgo's GTK
In a significant move to enhance its global trade financing operations, ANDRITZ, a prominent leader in the sectors of pulp and paper, metals, hydropower, and environmental energy solutions, has officially chosen GTK (Global Trade Konnect) from Komgo as its comprehensive multi-bank trade finance platform. This strategic adoption is aimed at accelerating ANDRITZ's digital transformation, streamlining processes, and ensuring cohesion across all divisions worldwide.
GTK, internally referred to by the team as "Global Trade by Komgo," serves as a centralized management tool for trade financing. It encompasses a wide array of functionalities including the management of guarantees, letters of credit, and risk insurance, all under a unified digital framework. This platform is particularly designed to provide a secure communication layer connecting financial institutions globally, vital for today's dynamic trade landscape.
The initiative has already commenced, with pilots being conducted across three financial entities, and it is projected to onboard 300 users spanning 40 countries. This pivotal system aims to digitize communications with over 30 financial partners, including banks, brokers, and insurance firms. By consolidating trading practices into a single registry populated with structured data and automated workflows, GTK is set to revolutionize cross-border trading activities, enhancing speed, security, and transparency.
Minna Helppi, the Senior Vice President of Group Finance at ANDRITZ, expressed her enthusiasm, stating, "GTK represents a substantial leap forward in our commitment to digitalize, harmonize processes, and achieve operational excellence, aligning with our strategic objectives. It empowers us to operate more intelligently, maintain global consistency, and ensure we provide value through modern and efficient tools."
For ANDRITZ, the adoption of GTK is anticipated to standardize trade financing management globally, substantially reducing error rates through automation while improving data accuracy and transparency. Furthermore, it proactively addresses risk management and timelines through alert systems and detailed reporting.
All legal entities within ANDRITZ will benefit from optimized workflows, gaining real-time visibility into credit line usage and approval flows. As a result, teams will spend less time on paperwork and coordination, allowing them to shift their focus toward higher-value activities that drive growth.
GTK streamlines processes, presenting intuitive and simplified workflows, while ensuring that responsibilities are clear, supported by training initiatives, and centralized document storage for better collaboration between regions and functional teams. This transformative approach is integral for fostering a culture of cooperation and agility within ANDRITZ.
ANDRITZ is recognized as a leading global supplier of solutions across multiple sectors, particularly in pulp and paper, metals, hydropower, and environmental energy. The company's commitment to innovative technologies drives significant growth for businesses, individuals, and the planet. ANDRITZ is dedicated to supporting ecological transitions across industries worldwide, enhancing efficiency, minimizing waste, and reducing emissions.
Komgo is a Swiss fintech that specializes in providing secure and interoperable solutions for digital trade financing. The platform connects enterprises and financial institutions globally, facilitating data exchange, automating workflows, and enabling multi-bank connectivity. GTK is Komgo's business application for unified trade finance management.
With GTK, ANDRITZ is not only accelerating its transition towards a more digital and automated future but also ensuring that it remains at the forefront of operational excellence and industry leadership. This collaboration with Komgo marks a new era in trade financing for ANDRITZ, setting a foundation for enhanced efficiency and competitiveness in the global market.
GTK, internally referred to by the team as "Global Trade by Komgo," serves as a centralized management tool for trade financing. It encompasses a wide array of functionalities including the management of guarantees, letters of credit, and risk insurance, all under a unified digital framework. This platform is particularly designed to provide a secure communication layer connecting financial institutions globally, vital for today's dynamic trade landscape.
The initiative has already commenced, with pilots being conducted across three financial entities, and it is projected to onboard 300 users spanning 40 countries. This pivotal system aims to digitize communications with over 30 financial partners, including banks, brokers, and insurance firms. By consolidating trading practices into a single registry populated with structured data and automated workflows, GTK is set to revolutionize cross-border trading activities, enhancing speed, security, and transparency.
Minna Helppi, the Senior Vice President of Group Finance at ANDRITZ, expressed her enthusiasm, stating, "GTK represents a substantial leap forward in our commitment to digitalize, harmonize processes, and achieve operational excellence, aligning with our strategic objectives. It empowers us to operate more intelligently, maintain global consistency, and ensure we provide value through modern and efficient tools."
Comprehensive Impact Across the Organization
For ANDRITZ, the adoption of GTK is anticipated to standardize trade financing management globally, substantially reducing error rates through automation while improving data accuracy and transparency. Furthermore, it proactively addresses risk management and timelines through alert systems and detailed reporting.
All legal entities within ANDRITZ will benefit from optimized workflows, gaining real-time visibility into credit line usage and approval flows. As a result, teams will spend less time on paperwork and coordination, allowing them to shift their focus toward higher-value activities that drive growth.
Enhanced Employee Experience
GTK streamlines processes, presenting intuitive and simplified workflows, while ensuring that responsibilities are clear, supported by training initiatives, and centralized document storage for better collaboration between regions and functional teams. This transformative approach is integral for fostering a culture of cooperation and agility within ANDRITZ.
About ANDRITZ
ANDRITZ is recognized as a leading global supplier of solutions across multiple sectors, particularly in pulp and paper, metals, hydropower, and environmental energy. The company's commitment to innovative technologies drives significant growth for businesses, individuals, and the planet. ANDRITZ is dedicated to supporting ecological transitions across industries worldwide, enhancing efficiency, minimizing waste, and reducing emissions.
About Komgo
Komgo is a Swiss fintech that specializes in providing secure and interoperable solutions for digital trade financing. The platform connects enterprises and financial institutions globally, facilitating data exchange, automating workflows, and enabling multi-bank connectivity. GTK is Komgo's business application for unified trade finance management.
Conclusion
With GTK, ANDRITZ is not only accelerating its transition towards a more digital and automated future but also ensuring that it remains at the forefront of operational excellence and industry leadership. This collaboration with Komgo marks a new era in trade financing for ANDRITZ, setting a foundation for enhanced efficiency and competitiveness in the global market.
Topics Business Technology）
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