Case Study: Kongsberg achieves automated, strategic treasury operations with ION Treasury IT2

Kongsberg High-speed treasury transformation with IT2

Kongsberg, a Norway-based global technology group, faced significant challenges with its highly manual treasury operations. The company relied on disparate systems and numerous spreadsheets to manage a complex portfolio, which was time-consuming and prone to error, leaving little time for strategic risk management. To achieve its vision of a highly automated function, Kongsberg selected the IT2 treasury management system from vendor ION Treasury.

ION Treasury implemented its IT2 solution in the ION Cloud, providing a centralized system that automated Kongsberg's end-to-end treasury operations. This integration with nearly 20 other systems delivered full cash visibility, automated FX risk management, and real-time reporting. The results were transformative, reducing the time spent on FX processes by over 50% and enabling the seamless incorporation of a major acquisition. The project, completed in just nine months, empowered the treasury team to shift its focus from operational tasks to strategic activities, gaining high-level recognition for its contribution to business growth.

Kongsberg

Renate Tegdal

Head of Cash Management