Algeria's Sonelgaz selects XRT for treasury solution

Algeria's Sonelgaz selects XRT for treasury solution

Paris-based treasury specialist XRT, has implemented a global treasury management and debt optimization system for Sonelgaz of Algeria.

The solution interfaces with all of Sonelgaz' account and client systems. Additionally, Sonelgaz will be using the system's treasury management functions, including short term treasury forecast, high-volume processing of bank and account reconciliation and complex multi-currency debt management.

XRT says Sonelgaz selected their Global Treasury Management System for its capacity to import bank protocols, as well as its functional ability. XRT’s cultural and operational familiarity with Africa and the Maghreb region, and its ability to establish a treasury management culture in under-equipped areas, were also important factors in Sonelgaz’s selection process.

In future the system will allow the new Sonelgaz Group holding company to use forthcoming enhancements covering group treasury functions and real-time electronic banking transfers.

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