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Orbian Corporation Expands its Implementation of SimCorp's IT2

SimCorp Treasury Solutions announces that Orbian Corporation, the Norwalk Connecticut and London based supply chain finance solutions company, has broadened the scope of its IT2 implementation to support its treasury management capabilities in connection with Orbian's funding of a major new European client.

Orbian provides businesses worldwide with a trusted supply chain processing and finance solution that facilitates supply chain collaboration to deliver a unique trade payment, settlement and finance solution.

Orbian employs an innovative capital markets financing structure to provide low-cost supply chain financing for its customers and by offering attractive rates of finance compared with competing and alternative methods available, the Orbian solution enhances 'buyers' and 'suppliers' working capital efficiency and cash-flow management.

Orbian uses the IT2 system to track and manage its treasury and cash-flow requirements, its interest rate and foreign exchange risk, and to generate treasury and management reports, thereby supporting Sarbanes-Oxley compliance. The expanded IT2 environment supports multicurrency operations, as Orbian expands its payment capability beyond US dollars and Canadian dollars.

Andrew Notman, Orbian's Group Treasurer, comments: "IT2 is central to the efficient, controlled operation of our Treasury. As a mission specific Treasury management system, it helps us to manage our operations effectively, and to generate the required accounting entries for our SAP ERP System."