Dixons Goes Live With IT/2

The Dixons Group, Europe’s largest electronics retailer, has gone live with its new treasury management system one month ahead of schedule. Its SimCorp IT/2 system is now supporting the central corporate treasury department, based in England, as well as subsidiary treasury departments in the Isle of Man and Norway. "The implementation process was very successful," says Matthew Hurn, assistant treasurer for the Dixons Group. "Not only did we implement ahead of time, but we were also within budget."

With a group turnover of £4.6 billion, Dixons carried out a thorough review of the market when it came to selecting a new corporate treasury management system. "We needed a system that would embrace best practice to enable us to operate effectively with maximum efficiency," says Hurn. "It was also vitally important to us that the supplier could offer comprehensive long-term support. We had to be confident the system would grow to meet the requirements of our ever-changing business. We are very committed to SimCorp’s development process and are involved with the work group that is planning future developments within the system."

IT/2’s single data entry and straight through processing capabilities were important to the FTSE-100 company, as was its ability to transfer data automatically to and from other systems. This includes systems within the
Group as well as to the Group’s banks and to other third party information providers such as Reuters. The efficiencies that these processes bring will enable Dixons to support its growing business.

"The system is extremely easy to use and its database security is excellent," says Hurn. "We are now developing very sophisticated reports and are continually realising new capabilities within the system and exploiting them. As our business grows across Continental Europe we will be able to implement modular parts of the system in our European subsidiaries."

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