IT2 Treasury Solutions announces that SHV Holdings N.V. (SHV) has selected the IT2 Treasury Management System as a Best Practice solution for their cash, treasury and risk management requirements.
Based in Utrecht, the Netherlands, SHV is a privately owned company, with a turnover of € 15 billion in 2006. SHVs commercial activities are diverse, and include LPG (liquefied petroleum gas) trade and distribution, oil and gas investments, cash and carry wholesale in food and non-food, metals recycling, heavy lifting and transport, and private equity investments. SHV operates now in 43 countries on 4 continents, and employs about 37,000 people world wide.
SHV has licensed IT2 to support a broad range of treasury operations, including cash management, cash and FX exposure management, FX and commodity hedging using option strategies, treasury accounting and management reporting. The implementation will be extended to support intercompany financing and cash-forecasting, FX and funding via the web using IT2 NET, and will further support corporate borrowing, the management of counterparty risk, credit facilities and bank guarantees. The SHV Corporate treasury team selected IT2 because of its broad functionality, ease of use and ease of reporting.