"In-house banking is an essential function of many North American and international treasuries," says Tom Morrison, Director of Product Management at Selkirk. "But without the right tools, in-house banking activities add another level of complexity to an already demanding treasury environment. Morrison adds that while Treasury Manager always had intercompany capabilities, "With this new release, those tools are enhanced and packaged into one comprehensive toolkit."
Pooling and intercompany term loan structures are unique to every organization and depend on several factors including regulatory requirements, degree of corporate centralization, geographic location and bank capabilities. In developing the Intercompany Loans module, Selkirk documented the different methods of numerous organizations engaged in substantial intercompany banking activities to develop a solution flexible enough to meet the needs of any treasury.
With the introduction of the Intercompany Loans module into Selkirkâs proven Treasury Manager solution, simple and sophisticated in-house banking structures alike will benefit. One of the first clients to implement Treasury Manager 6.0 is CB Richard Ellis, a global leader in real estate.
"We are very excited to be part of the Treasury Manager 6.0 beta group," says James Kim, Senior Treasury Analyst at CB Richard Ellis. "Selkirk's new Intercompany Loans module is already having a very positive impact on our domestic and international intercompany loan activities." The new module allows Kimâs group to easily track different kinds of intercompany loans and calculate different types of interest conventions, two critical functions in the companyâs treasury operations. "It's a flexible, comprehensive solution that significantly enhances the overall value of Treasury Manager."
Treasury Manager is an industry-leading treasury management solution for large organizations that maximizes the effectiveness of internal processes, external systems and treasury staff with an integrated suite of sophisticated modules. Over 150 Fortune 2000 organizations and 750 treasury professionals use Treasury Manager to manage liquidity, forecast cash flow, consolidate bank information and mitigate risk.
Other enhancements to Treasury Manager include interface modifications for increased usability; support for new financial instruments including amortizing swaps and bond forwards, as well as barrier and average-price foreign exchange options; cross-currency support for foreign exchange transactions; advanced security controls; and the integration of Crystal ReportsÂ® 8.5.