SimCorp’s IT/2 treasury management system has been deployed by Alba and the expected benefits include better visibility of information, reduced risk and a saving in treasury headcount. “We now have five major UK companies with many European and Asian trading partners, and that’s given rise to increasingly complex foreign currency cash flows,” says Perry Charles, Alba’s Group Financial Controller. “We had reached the point where our spreadsheet-based system would soon become a risk – we needed a more robust, purpose-built system, which could be used collaboratively within the company,” he adds. Alba’s initial use of IT/2 will focus on foreign exchange position keeping, forecasting and trading.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.