IT2 Treasury Solutions announces that Elsevier Finance SA has now migrated into live operations with the IT2 treasury management system.
Elsevier Finance SA, located in Neuchâtel, Switzerland, is the principal treasury centre for the Reed Elsevier combined businesses. Reed Elsevier is a leading provider of global information driven services and solutions, with a turnover of €7bn, employing 36,000 people in over 200 locations worldwide. Elsevier Finance SA 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, and also arranges or directly provides Reed Elsevier Group plc's businesses with financing for acquisitions and product development. Treasury additionally manages cash pools, debt programs and investments on their behalf. Elsevier Finance SA completed an extensive selection process in order to find the replacement for their existing treasury management system. Francis Corno, TMS Project Manager at Elsevier
Finance SA said, "With IT2 we found a solution which meets our requirements for userfriendliness, flexibility, integration, and provides a high degree of straight-through processing. He added, "The IT2 Best Practice tools of process-maps and system security functionalities strengthen the security and auditability of our treasury processes. Process-maps also facilitate the training of new users and accelerate their integration in our organisation".