Nutreco Selects IT2's Treasury Management System
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IT2 Treasury Solutions announces that Nutreco Holding N.V. has selected the IT2 Treasury Management System to support its cash, treasury and hedge accounting requirements.
The Netherlands based Nutreco (http://www.nutreco.com) is an international company, specialising in animal nutrition and fish feed production. Nutreco has over 100 production and processing plants in more than 25 countries, and the group's 2006 revenue exceeded EUR 3 billion.
Nutreco selected IT2 to supply an integrated Best Practice solution for front and back office treasury operations. The IT2 solution will manage FX exposure analysis and hedging, external and inter-company financing, interest rate hedging, cash forecasting and intercompany payables netting. The IT2 implementation will be integrated with the company's banking system, with the market data provider, and with a deal trading portal, as well as Nutreco's ERP and consolidation systems. Hedge accounting will address Net Investment Hedging in addition to FX and interest rate Cash Flow Hedging.
The drivers underlying Nutreco's TMS replacement project include:
The optimisation of essential intercommunication with the operating companies for deal requests, forecasts and reporting, to improve information flow & quality;
The integration, monitoring and management of hedging policy, to support enhanced, transparent compliance;
The implementation of enhanced treasury efficiency via STP workflows;
The improvement of the accuracy and timeliness of management reporting processes.
Enquiries regarding this announcement should be addressed to:
Patrick Coleman, Sales and Marketing Director, +44 (0)20 8600 4105, Patrick.Coleman@it2tms.com
Kelvin Walton, Marketing Manager, +44 (0)20 8600 4131, Kelvin.Walton@it2tms.com
IT2 Treasury Solutions Limited
IT2 Treasury Solutions Limited (www.it2tms.com) is a specialist provider of Best Practice treasury management / treasury workstation software, implementation and support services. IT2 systems are implemented in over 200 treasuries in Europe, the Americas, Africa and Asia, providing integrated Best Practice solutions for cash, treasury, treasury accounting, investment, asset management, funding and risk management.
