31st October 2005: Emap PLC – One of the UK’s leading media companies selects eTC to improve central treasury risk management and accounting compliance.
Emap has licensed the corporate treasury software product eTC from City Financials for its central treasury operations based in the UK.
A review of Emap's current treasury system established that it no longer met the needs and future requirements of the business. City Financials’ eTC product was chosen after an extensive selection and ‘proof of concept’ process. Key factors in the decision were the need for a robust system, strong in accounting, coherent IAS 39 capabilities and strategy, easy report
production and sound internal controls to meet corporate governance requirements.
Group Treasury Manager at Emap, Mike Foye said "We're pleased to be working with City Financials and look forward to implementing eTC and the numerous functional benefits that it will bring. eTC will significantly streamline our liquidity management processes, risk and exposure evaluation, enhance our accounting and reporting and deliver benefits to Emap and its businesses worldwide. Emap is a growing organisation with over £400m of new businesses acquired in the UK and Europe in this financial year alone. We therefore need a robust and flexible Treasury Management System and in eTC we believe that we have found just that."