Swissport Chooses IT2 TMS for Centralised Treasury Operations

Swissport International, the Zürich-based global airport and aviation industry service provider, has selected the IT2 treasury management system (TMS) to support its central treasury operations. The IT2 implementation will address key requirements relating to cash, foreign exchange (FX) and risk management, financing (including loans and guarantees), hedge accounting, cash flow forecasting and bank account administration.

The IT2 system at Swissport will serve five treasury users. Approximately 40 users worldwide will be connected to the central system using IT2 NET. The system will be integrated with Fides for the import of multi-bank balance and transaction statements (MT940s) and with Credit Suisse for the export of payments. It will also be integrated with SAP and with a range of local enterprise resource planning (ERP) systems. The single central IT2 database will facilitate efficient and responsive inquiry and reporting, and will provide a secure basis for audit trail management.

Peter Zmidzinski, vice president and head of corporate treasury at Swissport, said: “The Swissport treasury team agreed on a set of primary objectives for the new TMS. These included achieving enhanced control, efficiency and transparency, enabling us to manage cash and financial risk more efficiently across the organisation. We selected IT2 after a rigorous evaluation project. We were particularly impressed with IT2’s process management, control and documentation facilities, and the system’s flexible and powerful reporting facilities.

“IT2’s in-built treasury accounting and hedge accounting functions were other important factors in our decision, offering us an integrated solution as opposed to isolated technologies. The IT2 system will improve our abilities to forecast and manage cash, and it will help us in the monitoring and reduction of financial risk. In today’s most demanding corporate treasury environment, IT2 will play a key role in supporting profitable and secure growth, and in achieving treasury best practice at Swissport,” he added.


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