Name | Bernhard Aschenwald |
Position at voestalpine | Group Treasurer (Cash Management & Trade Finance) |
At the company since | 2020 |
Age | 33 |
Hobbys | Travelling, cooking, concerts & sports |
What connects me to corima is … | …almost a close friendship;) |
corimamagazine: Hello Bernhard. Thank you for taking the time for us. As a regular reader of corimamagazine, it was not difficult to „persuade“ you to do an interview. But as an employee in an energy-intensive, globally operating company, times are certainly very challenging even as they are.
Because you are a corima power user we have already been able to experience you as a guest speaker at our user meeting and in a workshop during the financial symposium in Mannheim. The colleagues from COPS who work with you report that your professional input as a trade finance expert and your high affinity for technical processes have strongly driven the redesign of our aval module. So, there is also a piece of you in our solution.
Please describe the focus of your work with corima.
B.Aschenwald: Thank you very much for inviting me to the interview. I am always looking for input from experts in the industry, so I am pleased that I can also contribute through this interview. When I started working in Group Treasury at voestalpine AG two years ago, my assumption was that I would be sitting at a „laid table,“ so to say, with a structure of treasury processes that was defined and established down to the last detail. However, I quickly discovered that we are amid a major change in the form of a new system implementation, which means a very dynamic working environment. The implementation of corima as the central and leading treasury management system in the Group means that a lot of existing treasury processes are being put to the test and, in some cases, completely redeveloped and implemented. On the one hand, this is an incredibly exciting task, but on the other hand it often presents us as a team with very great challenges. For example, processes that have been successfully in use for decades are suddenly called into question and viewed from a completely new perspective. Of course, corima plays a central role in all these considerations because we want to have our treasury processes mapped holistically and completely in the TMS in the future.
„We currently manage around 1,200 guarantees of our group companies centrally. This corresponds to 90% of the total guarantees in the Group.“
corimamagazine: Anyone who doesn’t know „voest“ better will wonder what is done there apart from steel out/money in. But 4 divisions, 500 group companies in 50 countries on 5 continents alone describes its size and the associated complexity in the group. Can you give our readers one or two examples of processes that are being put to the test, newly developed, and implemented?
B. Aschenwald: My first major project in Group Treasury was the centralization of the Group’s bank guarantee business. Previously, the Group companies applied directly to the banks for guarantees. Group Treasury was only involved in negotiating the terms and conditions with the most important banks. In 2020/2021 we then decided to restructure and centralize this product in Group Treasury. In addition to an extensive retendering of the guarantees framework, we redeveloped and integrated the entire process together with you in corima. Since then, the Group companies have been able to apply for bank guarantees at Group Treasury completely digitally. The administration of the guarantees including the settlement is also completely integrated in corima. We currently manage around 1,200 guarantees of our group companies centrally. This corresponds to 90% of the total guarantees in the Group.
We are also currently working on some very exciting projects around cash management and payment transactions. Here, too, corima is to act as a central hub for all payment and cash management processes in the Group in the future.
„It is important to be able to make quick decisions in times of crisis. A good TMS with a broad database can be very helpful here.“
corimamagazine: We have already touched on this briefly: First two years of Corona, now for half a year the Ukraine war with all the associated distortions on the capital and energy markets. What does this mean for voestalpine AG and what impact does it have on day-to-day business in the treasury?
B. Aschenwald: Since I have been working in the financial sector, I have been confronted with a wide variety of crises. My most important personal insight from all these experiences is that every crisis always represents an opportunity. However, it is important to adapt flexibly to the new circumstances and not to cling to outdated opinions and procedures. In addition, it is important to be able to make quick decisions in times of crisis. A good TMS with a broad database can be very helpful here.
„Our area of responsibility is incredibly exciting and varied.“
corimamagazine: What do you think it means to work in the treasury department at voestalpine AG?
B. Aschenwald: Our area of responsibility is incredibly exciting and varied. We interact with our Group companies from all over the world on a daily basis. This allows us to get to know many different business models and personalities. Since this year, we have also been able to travel to our subsidiaries again, which we use to better understand the individual treasury requirements of our Group companies and to develop solutions together. It is incredible what great and innovative companies belong to voestalpine. In addition, we have a great deal of creative freedom in Group Treasury, and we are shown a great deal of trust and flexibility by the management. That’s a good feeling – it makes work really fun.
„The greatest constant is further development.“
corimamagazine: The fact that despite the challenges and efforts, the work is fun sounds very well. What has changed at Treasury since you’ve been there? Are there also constants?
B. Aschenwald: As already mentioned in my first answer, the greatest constant is further development. Here, a great dynamic has developed in the team, especially during the implementation of corima. All employees are pulling in the same direction and we have really made a lot of progress in the last two years. This is also appreciated by the decentralized users at the level of our numerous group companies and is a confirmation of our daily work.
corimamagazine: That you are „on fire“ on the subject, one can literally feel, Bernhard. Many thanks for the time you have taken despite many demanding tasks. Of course, we would also like to thank you and your colleagues for the very good and trusting cooperation. The joy in the project is also unchanged on our side.