Dow Corning Corporation has selected the IT2 treasury management system (TMS) to support its cash, treasury and financial risk management operations in the US and overseas. The system solution will address Dow Corning treasury’s central business issues, including cash and liquidity management (with cash forecasting), financial asset investments, straight-through processing (STP) settlement and payments processing, in-house banking, multilateral netting, foreign exchange (FX) hedging, financing and funding.
The IT2 solution will also support leasing, trade finance via letters of credit (LCs) and guarantees, treasury accounting and hedge accounting, with an interface to the SAP General Ledger, and support for FAS 133 Hedge Accounting and FAS 157 Fair Value Measurements. The system will generate the required operational and management reporting, and will provide the necessary Sarbanes-Oxley (SOX) controls and documentation.
Jan Hjalber, Dow Corning vice president and corporate treasurer, said: “Dow Corning selected IT2 because it offers a comprehensive solution that will fully support treasury’s priority business objectives.”
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