Abu Dhabi-based Etihad Airways has selected the IT2 treasury management system (TMS) to support its treasury operations.
Etihad’s IT2 implementation will provide an integrated solution that will address domestic and international cash management, long term finance (including leasing), trade finance, interest rate risk and foreign exchange (FX) risk management, treasury accounting and hedge accounting under IAS 39. IT2 will be integrated with bank reporting and payment systems, the FXall dealing portal, Reuters 3000 Extra (for FX and interest rates), and with Etihad’s enterprise resource planning (ERP) system, Oracle Financials.
Ricky Thirion, Etihad’s vice president of treasury, said: “Etihad Airways selected IT2 after a rigorous and competitive tendering and selection process. We judged that IT2 is best placed to deliver an integrated, best practice STP [straight-through processing] solution that will enable us to eliminate inefficient, error prone manual processes. The treasury team will be able to focus on their core professional tasks of managing liquidity and financial market risks in today’s most demanding financial environment.”
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