Hafslund Develops Treasury Management With IT/2

Norway’s largest electricity distributor and retailer, Hafslund ASA, has selected SimCorp’s IT/2 system to manage its corporate treasury. The utilities company is a major participant in the Norwegian securities market and had outgrown its use of excel spreadsheets for its treasury management.

"Our treasury department has grown to such an extent that we needed a more robust system," explained Ketil Wang, finance director of Hafslund, "With SimCorp’s IT/2, we have a dedicated corporate treasury management system that enables multiple users to have up-to-the-minute information and we can keep track of all activities that are undertaken."

Hafslund will use IT/2 for keeping track of loans, borrowings and interest rates; as well as managing interest-rate derivatives and currency-hedging of the loan-portfolio. The system supports all activities currently undertaken by the department and can be easily extended with additional modules when needed.

"As well as keeping abreast of all current activities, we can look at historical data to see what has been carried out and how it has performed," added Wang. "It covers most of our needs – every instrument, every loan – its all there. In fact it is much more comprehensive than originally expected."

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