Chicago, October 29, 2001 - Integrity Treasury Solutions, a leading provider of treasury management software, is pleased to announce that Motorola has successfully automated its Global Treasury Operations in Amsterdam, London, Singapore and Chicago.
Motorola, Inc. (NYSE: MOT) is a global leader in providing integrated communications and embedded electronic solutions. integra-T was installed into Motorola's Corporate Treasury operations in Chicago, its Asia-Pacific Treasury operations in Singapore, its European Treasury operations in London and its Finance BV operations in Amsterdam.The system tracks and reports Motorola's daily cash and liquidity management, investments and inter-company loan management and provides interfaces to the company's internal netting and foreign exchange systems.integra-T also integrates bank balance reporting and transaction reporting with Motorola's banks. All of this information previously maintained on a variety of non-integrated systems is now housed in one centralized database. This allows for significant efficiencies gained in harmonization of treasury processes on a global basis.
"By using integra-T we have been able to significantly improve our investment returns by our ability to identify our cash positions in Treasury on a timely basis" stated Tim Westcott, Global Cash Manager, Corporate Treasury for Motorola. "This enables Treasury to optimally manage our cash and intercompany loan positions and to obtain centrally, daily bank reporting from over thirty banks and over five hundred bank accounts."
Tim adds, "We have been able to reorganize our department, with a more centralized Treasury assuming greater responsibility for daily cash management. This has been done with no increase in resources.In fact, the system has realized a substantial savings in resource allocation.The system is utilized to manage and document our InterCompany loan positions and documentation, and to manage our investment portfolio, and with integra-T's ability to automatically reconcile bank accounts, we save approximately one week per month of staff time in this area. We are looking to develop our use of the system further with focus on cash-flow forecasting and current day bank balance reporting via the web. We look forward to a long and profitable relationship with integra-T."
"We are very pleased to be able to assist Motorola in streamlining their worldwide treasury operations", stated Les Halpin, Integrity Treasury Solutions' Chief Executive. "The implementation process was completed on time, within a very aggressive time frame, allowing Motorola to recognize some immediate benefits from the system."
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