London-based Cable & Wireless Communications has implemented the IT2 treasury management system (TMS) as a best practice solution to support central treasury operations.
Cable & Wireless Communications’ management wanted a replacement TMS to provide a transparent, complete and properly integrated solution to fulfil critical needs in cash and financial risk management.
The IT2 implementation supports cash and treasury management and treasury accounting, and provides full operational and management reporting. The IT2 system interfaces with the Citidirect electronic banking service. It supports hedging operations using derivative instruments in an integrated straight-through processing (STP) workflow that eliminates the need for re-keying and for the manipulation of data in spreadsheets, improving the efficiency, accuracy and reliability of treasury operations.
Eileen Tindall, group treasurer at Cable & Wireless, said: “Cable & Wireless Communications’ treasury has taken the opportunity presented by the implementation of IT2 to re-engineer and optimise our treasury processes. We are making full use of IT2’s unique process maps to operate robust and efficient STP workflows that enable our team to focus on their professional duties.”
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