Financial Management Service (FMS), a bureau of the US Department of the Treasury, has selected IT2 as the central repository of information for cash management purposes.
FMS is implementing IT2 to improve operations. IT2 will assist in reducing multiple re-keying data entry operations, and to implement best practice treasury processes using process mapping facilities. IT2 will support the effective imposition of internal control standards, including segregation of duties and audit trail administration.
Steve Bullock, IT2’s senior vice president and regional manager, said: “Our work with the FMS treasury affirms the value of IT2’s cash, treasury and financial risk management solution to government sector organisations. We have built a business partnership with the FMS team, so that we can work together to assure project results.” The FMS operation is located in Washington, DC, and the IT2 system is externally hosted by IT2 Treasury Solutions’ technology partner, Rackspace.
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