Case Study: Kongsberg achieves rapid, end-to-end treasury automation and real-time cash visibility with ION Treasury's IT2

Kongsberg High-speed treasury transformation with IT2

Kongsberg, a Norway-based global technology group operating in extreme conditions, faced a fragmented treasury landscape driven by disparate systems, heavy spreadsheet use, and largely manual processes across more than 50 internal entities and a large FX portfolio. To move from operational firefighting to a strategic treasury function, Kongsberg selected IT2 from ION Treasury (running in the ION Cloud) to replace workarounds and automate core treasury and risk management.

ION implemented the IT2 TMS as a central, cloud-based platform integrated with around 20 other systems (including SWIFT AL2 and multiple ERPs), delivering end-to-end automation, real-time dashboards, and straight-through FX risk and hedge accounting. The transformation—completed in nine months—gave Kongsberg full cash visibility, cut time on FX risk and hedge accounting by over 50%, enabled incorporation of an acquisition in just over three months, and shifted the treasury team to more strategic, value-adding activities.

Kongsberg

Renate Tegdal

Head of Cash Management