DP World Selects Salmon Software's TMS
DP World, the Dubai-headquartered international operator of marine terminals, is to implement Salmon Software’s treasury management system (TMS). Salmon Treasurer manages all aspects of treasury management both locally and globally, many in real time and across a wide range of financial instruments. DP World aims to enhance customers’ supply chain efficiency by effectively managing container, bulk and other terminal cargo through a dedicated team of nearly 30,000 professionals.
DP World, which reported revenues of over US$3bn in 2010, is implementing an ambitious expansion programme across key markets including Europe, China, south America and the Middle East, which will increase capacity to 100 million TEU (twenty foot equivalent container units) by 2020, depending on market demand. It operates more than 60 terminals across six continents, with container handling generating around 80% of revenues. The company currently has 11 new developments and major expansions underway in 10 countries.
“As part of our expansion plan and continued focus on cost control we required an industry-leading TMS. Salmon Software brings a tried and tested product combined with a 25-year track record in implementing cost effective global FX solutions,” said Pradeep Luthria, IT projects and customer services, DP World.