Yell Group has selected the SimCorp IT2 treasury management system to support its cash, treasury, treasury accounting and risk management operations. Yell Group is an international directories business, operating in the classified advertising market through printed, online and phone-based media in the UK, US, Spain and Latin America. Yell’s treasury is based in Reading, UK, with the key financing decisions and funding negotiations taken centrally by the group treasurer, supported by a ‘virtual’ treasury team across the group. The resultant funding is drawn by holding and operating companies across Yell Group and accounted for by local finance staff who are also part of the virtual treasury team. The US and Spanish operations carry out their own cash management. Yell will be utilising the solution’s integrated IAS39 functionality to administer and account for all its external derivative transactions. As well as managing funding deals and interest rate management, IT2 will generate accounting entries for Yell’s SAP general ledger system, covering all treasury deals and cash flows.
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
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Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
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