Reed Elsevier is a leading provider of global information driven services and solutions with a turnover of EUR7bn, employing 36,000 people in over 200 locations worldwide. Elsevier Finance SA, located in Switzerland, is the principal treasury centre for the Reed Elsevier combined businesses.
It is responsible for all aspects of treasury and banking advice and support for Reed Elsevier Group plc's businesses operating in Continental Europe, South America, the Pacific Rim, China and certain other territories. Elsevier Finance SA undertakes foreign exchange and derivatives dealing services for the whole of Reed Elsevier. Elsevier Finance SA also arranges or directly provides Reed Elsevier Group plc businesses with financing for acquisitions and product development, and manages cash pools, debt programmes and investments on their behalf.
Elsevier Finance SA has completed an extensive selection process in order to find the replacement for their existing treasury management system. Jacques Billy, Chairman & Managing Director of Elsevier Finance SA said, "With IT2 we found a solution which meets our requirements for userfriendliness, flexibility, integration, and a high degree of straight-through processing. The easy to use IT2 reporting tools will enable the treasury team to quickly reproduce actual treasury reports and create new reports without having to rely on our TMS vendor." He added, "IT2 process-maps and security functionalities will be significant tools to strengthen the security and auditability of our treasury processes. Process-maps will also facilitate training of new users and accelerate their
integration in our organization."