IT2 Treasury Solutions announces that Ramirent Plc has completed the first phase of its IT2 treasury management system implementation project.
IT2 is now operational at Ramirent's Group Treasury in Vantaa, Finland.
Ms Heli Iisakka, Ramirent Plc's Chief Financial Officer, explains Ramirent's investment in IT2: "The weakened market situation has highlighted the importance of effective treasury processes. We are able to hedge against risks more accurately and proactively than before, as time previously spent on reporting and document generation can now be used in analysis and planning." Ms Iisakka states that Ramirent's choice of IT2 was also influenced by the knowledge that OpusCapita, who implemented the Ramirent solution, is familiar with local requirements and customs.
Phase 1 of the Ramirent's IT2 project provides an STP solution for external and internal funding, FX transactions and hedging, linking to the payments function. Phase 2, which is presently in progress, will connect Ramirent's subsidiaries to Group Treasury using IT2 NET. This will automate the submission of cash forecasts and loan, deposit and currency trading requests to central treasury, and manage operational and monthly management reporting.
Petteri Järvinen, Group Cash Manager at Ramirent, describes how IT2's unique process maps support accelerated, secure system implementation: "One of the strengths of IT2 is its process maps, which make it easy to model the treasury processes and, for example, the segregation of tasks as well as responsibilities between Front, Middle and Back Office functions. The system offers off-the-shelf best practice models, which can be used as templates when modifying treasury processes."
Kevin Grant, CEO of IT2 Treasury Solutions, comments: "IT2 chose OpusCapita as our business partner for Finland and Sweden because they are a strong, complementary organisation whose local expertise and reputation are second to none - as the successful Ramirent treasury project eloquently demonstrates."