Wärtsilä wins EuroFinance Treasury Excellence Award for Digital transformation & technology implementation

Wärtsilä Corporation, News, 21 October 2019 at 13:00 UTC+2
  • TreasuryAward
  • Treasury Award 1

The technology group Wärtsilä has been awarded EuroFinance Treasury Excellence Award for Digital transformation & technology implementation in recognition of their rapid implementation, innovative development of Robotic Process Automation (RPA) in Finance. The award was given in EuroFinance Conference in Copenhagen on 18 October 2019.

Robotic Process Automation is a tool that enables agile business process automation for non-technical people by configuring rules for a software robot to emulate the repeating manual tasks of employees.  

The EuroFinance Treasury Award for Excellence recognises true innovation within international treasury, and it is backed by the editorial independence standards of The Economist Group. The award recognises Wärtsilä’s striking RPA journey that excels in approach, scale and impact and is also a strong endorsement of the company’s successful digital transformation journey.

“With millions of transactions automated, hundreds of thousands of human hours saved and more than €5m avoided in development costs alone, this engineering firm’s use of Robotic Process Automation (RPA) in treasury and its Shared Service Center is striking in its approach, scale and impact,” praises the EuroFinance jury.

“We are proud of this acknowledgement as a forerunner in digital transformation and technology implementation. Our in-house pilot team started experimenting with RPA in 2016 by implementing automation into our finance processes. Since then RPA has spread throughout Wärtsilä and today it is widely deployed in the company. With hundreds of robotized processes and 180.000 monthly job runs we can say that RPA has become a part of our DNA benefiting both us and our customers,” says Anu Hämäläinen, VP, Group Treasury & Financial Services.
“Wärtsilä’s RPA journey is a shining example of digital transformation in action. We have successfully used citizen development to provide the platform, service and support to allow our employees to improve their work with automation without needing to know much about programming languages or how to write code. Together, we have increased the efficiency in our end-to-end processes and shifted to automation first mindset,” says Jukka Kumpulainen, CIO & Vice President Information Management.

Image caption: Wärtsilä wins EuroFinance Treasury Excellence Award on Digital transformation & technology implementation award for Robotic Process Automation

Read more about RPA in Wärtsilä: 
RPA - the digital colleague providing businesses with superpowers
Everyone can be part of the digital transformation
Taking the machine out of people

For further information, please contact: 

Anu Hämäläinen
Vice President, Group Treasury & Financial Services
Wärtsilä Corporation
Tel. +358 10 7095630

Jukka Kumpulainen
CIO & Vice President, Information Management
Wärtsilä Corporation
Tel. +358 10 7095386

Sari Luhanka
Global Media Relations Manager
Wärtsilä Corporation
Tel: +358 50 3860 353

Wärtsilä in brief:
Wärtsilä is a global leader in smart technologies and complete lifecycle solutions for the marine and energy markets. By emphasising sustainable innovation, total efficiency and data analytics, Wärtsilä maximises the environmental and economic performance of the vessels and power plants of its customers. In 2018, Wärtsilä's net sales totalled EUR 5.2 billion with approximately 19,000 employees. The company has operations in over 200 locations in more than 80 countries around the world. Wärtsilä is listed on Nasdaq Helsinki.