SABMiller Selects IT2's Treasury Management System
IT2 has been selected by SABMiller, one of the world’s largest brewing companies, to support their cash, treasury, treasury accounting and risk management business, for their group treasury operations based in Woking, Surrey, UK. SABMiller’s turnover in fiscal 2007 was US$18.6bn, with an EBITA of US$3.6bn. IT2 will support the group’s corporate governance over treasury activities. According to IT2, group treasury will acquire better visibility of the group’s currency and interest rate exposures. The IT2 system solution will automate many tasks, providing best practice STP workflows in key operations including bank account reconciliations, FX & interest rate hedging, funding, cash forecasting and cash pooling. The solution encompasses treasury accounting including hedge accounting, and will be integrated with SABMiller’s ERP system, SAP.