IT2 Announces Celio as a New Client

London - 15 November 2010

IT2 Treasury Solutions announces that Celio has selected the IT2 treasury management system to support its Group Treasury’s global operations. The primary business issues that are being addressed by the IT2 implementation are improving the visibility of company-wide cash, and managing new, expanded management reporting requirements. IT2 will be rolled out to approximately 10 users in Brussels, Paris and Hong Kong, and the implementation scope includes support for the establishment of a payments factory.

Celio’s evaluation process focussed on finding a solution that would swiftly generate a positive ROI (return on investment) from a company-wide as well as a Group Treasury perspective. IT2 was successfully evaluated in terms of its compliance with Celio’s demanding corporate governance standards.

Another positive feature of IT2 was its process mapping capability: this supports Celio’s corporate change management objective for the smooth integration of new systems, with minimal disturbance. IT2’s user friendly process maps will help with implementation, process definition, documentation, security and control, and also with the effective training of new staff.

“We were delighted that our selection process confirmed that IT2 could provide a straightforward, effective and single solution for all our project objectives,” explains Celio’s CFO Pierre Parlongue. “IT2 will not only support company-wide treasury operations: its value will extend beyond Group Treasury, helping our Finance, Risk Management, Audit and Internal Control achieve their processing and reporting objectives.” “We are naturally delighted that Celio’s demanding selection process was completed with the choice of IT2,” adds Kevin Grant, IT2’s Chief Executive Officer. “Celio adds another major retailer to our rapidly growing global client portfolio.” The IT2 implementation project is presently in progress.
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