Dometic Group, the supplier of leisure products for the caravan and motorhome market, has chosen IT2’s treasury management system (TMS). IT2 said the deal, brokered by cash flow automation specialist OpusCapita, would provide Dometic with the benefits of efficient central control and visibility of treasury business and exposures at its Stockholm treasury department.
“Governance, efficiency and the transparency of treasury operations are at the heart of this project,” said Patrik Hallerström, Dometic’s group treasurer. “We are on course to establish straightforward, systematic control of our global interest rate and foreign exchange [FX] exposures with a centralised programme of reporting and hedging. Across all areas of our treasury business, Dometic Group will improve the integrity and scope of management and financial information.”
To support these objectives, a web-based process for group-wide balance and forecast reporting and notional pooling will be introduced across the group’s more than 120 bank accounts, through the roll-out of IT2 NET at Dometic’s subsidiaries.
“Streamlining is also important to us,” added Hallerström. “By ensuring that treasury business processes, including the use of dealing and accounting systems, market data and communication with banks, are executed within a single, integrated environment, we look to secure efficiencies and cut operational risk.”
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