PLIVA Strengthens Treasury Control With IT/2

PLIVA, the largest pharmaceutical company in Central and Eastern Europe by revenue, has gone live at its headquarters in Zagreb with the IT/2 treasury management system from SimCorp. The contract was signed in the fourth quarter of 2003.

PLIVA’s steady and substantial growth, both organic and through acquisitions over recent years has resulted in new challenges for the corporate treasury function.

"We made a detailed risk analysis two years ago, which increased risk awareness, especially in interest rates and FX," comments Eszter Nagy, Head of Treasury Control at PLIVA Finance. "As a result we have centralised our treasury, using smaller treasury operations across Europe and in the USA to supplement our central activities," she adds.

IT/2 was chosen after a thorough review of the available systems.

"We liked SimCorp’s professionalism right from the start. They obviously understood our business and they gave us clear answers," says Ms. Nagy. "We also like the fact that the system represents good value for money and can be implemented within our timescales, even though we introduced some new requirements along the way."

PLIVA plans to implement more IT/2 functionality in the coming months, adding further risk models and improving communication with its satellite treasury operations via IT/2 NET.

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