Mako Group (Mako), the derivatives specialist group, comprising proprietary trading, broking and investment management companies, has selected SimCorp’s IT/2 Choice to administer its corporate treasury. The system was chosen after the company decided to establish a formal corporate treasury management function headed by corporate treasurer, Eileen Tindall.
Initially, Mako will use IT/2 Choice primarily for cash management, risk management and transaction capture. Because of its flexible nature, IT/2 Choice, can be expanded to cope with a higher level of functionality as and when required.
"Furthermore, with IT/2 Choice, we were able to trial the modules before making a commitment to the system," said Tindall.
Launched earlier this year, IT/2 Choice is the first corporate treasury management solution that is available with a free two months’ trial and without the charge of an initial license fee.
The implementation process for IT/2 Choice is usually very swift. In Mako’s case, one week after an initial presentation of IT/2 Choice an agreement was signed with SimCorp. Ten days after signing for IT/2 Choice, the system had been installed, training was complete and IT/2 Choice was operational at Mako treasury.
"Mako is a typical example of how IT/2 Choice enables companies to select and implement our leading-edge corporate treasury management system in a very short time frame," says Patrick Coleman, sales director for SimCorp IT/2. "For most companies this means major cost savings as they no longer have to deploy scarce treasury resources in a protracted selection process. As an added bonus they also do not have to pay an initial licence fee."