Borealis, a provider of plastics solutions, has selected IT2 as their treasury management system. IT2 will form the central control hub for group-wide treasury operations, which are being re-insourced. It will support treasury activities in Mechelen, Belgium and Linz and Vienna, Austria. In fiscal 2006, Borealis’ sales were approximately €6bn. The company chose the solution in particular for its reporting function. The central IT2 system will integrate with SAP, electronic confirmations, FX and money market dealing portal and cash management banks. IT2 is designed to automate front and back office operations, debt management, cash and liquidity management, risk management and the associated accounting and hedge accounting.
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.