Teekay Shipping Streamlines Treasury Operations with XRT
XRT’s Enterprise Suite has been choosen by Teekay Shipping to centrally manage its global treasury operations, including cash, liquidity and risk. “We chose the XRT Enterprise Suite because of its integrated communications module and its ability to manage cash,” said Vince Lok, senior vice president and treasurer of Teekay Shipping. “XRT’s experience in dealing with foreign banks and its strong presence in Europe were also important considerations in our decision,” he added. With operations in 14 countries, Teekay will utilize the XRT platform to automatically link information from Teekay’s banks to its corporate accounting system in Canada. This includes debt, investments, foreign exchange and other treasury activities. As a result, Teekay expects to be able to eliminate a number of manual processes, which will improve data integrity and save time and money.