Wall Street Systems helps AREVA simplify financial technology portfolio
London and New York - 27 June 2011
Major go-live includes advanced bank communication, cash, risk management and accounting functionality
Wall Street Systems (Wallstreet), the global provider of treasury, trading and settlement solutions and services, has completed the implementation of Wallstreet Suite at international energy group AREVA. It will support the group's strategy to reduce the number of technical platforms in use across its business.
AREVA is a leading company in power solutions with commercial presence in more than 100 countries. Energy companies have a unique range of treasury requirements, from funding long-term infrastructure investments to managing fluctuating currency and energy prices. The group has been committed to delivering transparency around cash positions globally, and strong risk evaluation.
AREVA selected Wallstreet to improve bank communication, plus cash and risk management, and to support its effort to increase the efficiency of accounting processes. It specifically selected Wallstreet Suite for its flexibility and interoperability with other IT systems, simplifying overall the energy group's corporate treasury.
Importantly, AREVA also required an integrated treasury solution that could help it drive through business process improvements that reach beyond the treasury department, and offer all subsidiaries and financial managers the tools they require to report cash and risk positions in real time.
Sasa Jeremic, IS Manager at AREVA commented, "The implementation of Wallstreet Suite has been a complete success, helping us to simplify our treasury processes and also reduce the complexity of our wider IT portfolio. We required a corporate treasury technology partner that could deliver industry-leading cash and risk management, plus bank communication, and Wallstreet was flexible throughout, delivering on time and budget."
Mark Lewis, Head of Product Management, Wallstreet Suite, added: "Simplifying complex treasury is what sets Wallstreet Suite apart in the market. We're delighted to have supported another world class client in making their treasury operations more efficient."