Elsevier Finance Goes Live with the IT2 TMS Solution
IT2 Treasury Solutions has announced that Elsevier Finance has now migrated into live operations with the IT2 treasury management system. Elsevier Finance, 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 is responsible for all aspects of treasury and banking advice and support for Reed Elsevier Group’s businesses operating in continental Europe, South America, the Pacific Rim, China and certain other territories. Elsevier Finance 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 completed an extensive selection process in order to find the replacement for their existing treasury management system. IT2 claim that the solution’s best practice tools of process-maps and system security functionalities strengthen the security and auditability of treasury processes. Process-maps also facilitate the training of new users and accelerate their integration in an organisation.