IBM Corporation Selects TietoEnator as Supplier for Global Treasury Solution
TietoEnator Corporation, based in Helsinki, Finland, announced that International Business Machines Corporation (IBM) of Armonk, New York, has chosen TietoEnator’s SYSTEM10 software, owned and managed by Entra System10 AB of Sweden, a subsidiary of TietoEnator, as its global treasury solution. IBM chose the Entra System10 solution because it is a comprehensive global treasury platform, including full FAS 133 functionality and European accounting functionality, thereby providing a single, cost-effective solution which accommodates both accounting standards. IBM has been using SYSTEM10 for treasury activities since 1995. IBM’s use of SYSTEM10 has expanded from an original installation at IBM’s Treasury Centre in Dublin to include IBM’s main Treasury Operation at its Corporate Headquarters. IBM is able to manage all of its global treasury operations from a single instance of the SYSTEM10 database, located in New York.