interface, Treasury Workspace, and a new web front-end module, IT/2 NET. Other developments include enhancements to the systemâs reconciliation and limits facilities.
IT/2 NET provides a web based front end, enabling subsidiary users to communicate securely to central treasury, such items as deal requests, cash planning and netting invoices. A subsidiary can also run reports from the central treasury. This can be over a companyâs own intranet, via a Virtual Private Network (VPN), or over the public internet, using a standard web browser. Central corporate treasurers can then combine the cash flows of their subsidiaries to provide a complete view of their treasury operation for improved financial planning.
Central treasury is also able to improve its management of deal requests for foreign currency and money market transactions. This is done by consolidating requirements across the company to obtain the best possible rates.
Reporting procedures are enhanced with subsidiaries able to run reports in real time using information that is tailored to their business.
This additional functionality makes the central treasury system accessible, in real time, at any time to any subsidiary anywhere in the world. IT/2 NET also enhances the efficiency of the treasury operation in a number of ways. It
supports the systemâs straight through processing capability by enabling one time entry throughout the entire treasury operation. It also standardises the format for the collection of data throughout an organisation, which in turn reduces the time taken for central treasury to collect the information and assimilate it.
Treasury Workspace is the other major development in IT/2 version 5.0. This new facility gives the user instant access to a whole range of information and different applications from within a single screen. In practice this means
that not only can many documents be seen simultaneously on one screen, but in addition frequently used applications or other documents can be accessed by a single click on an onscreen portal.
A user can configure the screen so that data that is most important to them is immediately presented when logging into IT/2, removing the administrative tasks of having to run reports and queries before information is available.
Real-time reconciled cash positions, facility and limit head room, maturity gaps, currency positions and even profit & loss workbenches are available in Treasury Workspace with full drilldown capabilities and relevant menus that
allow, for example, a position to be clicked on to automatically create a deal to cover it. The Treasury Workspace keeps all information and functions important to the treasury user close at hand.
"These developments are very significant to our customers and the market place as a whole," says Patrick Coleman, sales and marketing director for SimCorp IT/2, âThe Treasury Workspace is by far the most advanced and user friendly, treasury information management tool available. It will revolutionise the way treasurers are working. IT/2 NET, which is a fully integrated module of IT/2, will provide our customers with the remote access tool that they require to
support their global treasury operations today. It is a true standard, out of the box, suite of web modules that will be very cost effective for our customers to deploy."
Whilst Treasury Workspace and IT/2 NET are the most significant developments in the latest release, they are among a number of enhancements in version 5.0. The enhancement to the systemâs reconciliation facility, for example,
automates the matching of one-to-one, one-to-many and many-to-many items on a bank statement and the limits
facility now automatically and instantly notifies the controller by email if a user has breached their allowable limits. Settlement limits has also been introduced, which gives a daily ceiling to the amount that can be traded or settled with a counter party.
SimCorp has used the latest Microsoft development tools and Microsoft.NET technologies.