Novelis, the aluminium rolled products company, has chosen XRT Globe$ as its corporate cash, treasury and risk management platform. Formed in January 2005 as a spin-off from Alcan, Novelis is an ubiquitous presence in commercial and consumer markets. Rather than continue using Alcan’s legacy treasury system, Novelis will use XRT Globe$ to build a centralised, integrated treasury. Located in Zürich, the treasury department will provide in-house banking, accounting and risk management facilities for all Novelis’s 21 European plants. With the help of consultancy firm Accenture, Novelis decided on XRT Globe$ after a head-to-head comparison with another leading treasury system. Commenting on the selection of the XRT produt, Friedrich Floto, head of the European treasury at Novelis, said: “With XRT Globe$ we have a solution that matches our business and technical requirements at an extremely cost-effective price. Crucially, XRT Globe$ can be implemented quickly, which is essential as, unlike most new companies, we’re setting up new operational processes at the same time as dealing with existing business and customer commitments.”
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.