IT2 Treasury Solutions Limited says that London-based Cable & Wireless Communications Plc has successfully implemented the IT2 treasury management system as a best practice solution to support central treasury operations.
The TMS project was initiated as a result of the recognition by Cable & Wireless Communications’ management that a replacement system was needed 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 STP (Straight Through Process) 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.
According to Eileen Tindall, Group Treasurer, “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.”
