- .Net Version of The Richmond Suite: Trema unveils .NET version of its award winning middle-market Treasury package
7th October 2005 â Eurofinance, Berlin â Trema marks its commitment to its customers and the on-going development of world class treasury solutions by announcing the release of new versions of both its high-end and mid-market products, only two months after the acquisition of Richmond Software.
"Traditionally the treasury market has not been served well by the software industry as vendors have found it difficult to keep up with the fast pace of trading desks and the complexity of regulatory compliance," said MichÃ¨le Fitzpatrick, CEO of Trema. "While many of our competitors have struggled to maintain their investment in this area of product development we have continued to develop and enhance our products unabated, and this latest release has been extremely well received by our customer base. We are the only vendor with a razor sharp focus on the treasury function, capable of and willing to maintain the right R&D investment levels to ensure customer success and thatâs what we do with a passion."
Version 7 of the Trema Suite provides financial institutions and corporate treasuries with a strategic enterprise application platform. It is the only solution that combines depth of functionality with seamless integration by enabling all cash management, trading, funding and investment activities to be automated, audited, consolidated, and accounted for, instantaneously and globally.
The productâs flexibility and scalability means that users can pick and choose the most relevant functions from five integrated modules, and opt for different deployment options, in order to meet their most pressing business challenges.
The new release features an innovative instrument management framework that enables customers to setup, configure, and release new user-definable instruments at a fraction of the time, without any of the long testing cycles typical of custom built solutions.
The suite offers end-to-end support for over 250 configurable instruments, from front to back office processing, down to the automated generation of accounting entries according to multiple accounting standards - all within a single integrated package.
Version 7 highlights include:
. Advanced short-term and mid/long term cash forecasting.
. Enhanced SWIFT support, powerful payment factory functions, including a powerful XML tool for the efficient implementation of bank interfaces.
. Integral support for commercial lending or sophisticated inter-company loan structures.
. Integral support for Structured Products, including embedded access to NumeriX LLC TM (1) libraries, as well as another 250+ instruments. Heavy borrowers can now access the same valuation tools that were only previously available in proprietary systems developed by investment banks.
. Integrated risk & portfolio management, benchmarking and performance attribution.
. Full IAS39/FAS 133-138 compliance and parallel accounting. This includes automated hedge effectiveness testing (dollar offset method, regression analysis - both prospective and retrospective) and the ability to automatically generate multiple GL postings, from a single trade input, using multiple valuation and impairment calculation rules.
. Support for 64-bit architecture. Support for Linux (in addition to existing Unix & Windows NT TM (1) platforms)
"Customers know that the highest Return On Investment comes from products that combine depth and breadth of functionality with a seamlessly integrated environment and this is exactly what we deliver with Version 7 of The Trema Suite," said Shiva Ramabadran, Chief Technical Officer for Trema. "Best of breed solutions may do the job, but they will also cost you a fortune in integration as you try to put the picture together. Integrated solutions on the other hand tend to remain too shallow when it comes to supporting the financial domain expertise required for strategic treasury & asset management activity. With version 7, we meet our customersâ demands for both powerful functionality and full STP integration."
The .NET version of The Richmond Suite encompasses everything a mid-sized corporate treasury requires to manage its daily processes including cash management, deal administration, risk management and accounting. Recognised as the most complete mid-market offering in its category, The Richmond Suite provides the more cost-conscious treasurer with a seamless solution that is quick to install, user-friendly and easy to maintain, yet offers best practice in one cost effective package. The product can be deployed traditionally on the desktop or via the web, and is also available in ASP mode.
The new .NET version, to be released in a few months, supports multiple languages, user configurable screen layouts and navigation, coupled with a powerful reporting tool at the usersâ fingertips. It also comes complete with a wide range of pre-configured deal types that have associated workflow routines already established. User set-up is simple and familiarization is minimal as the application merges seamlessly within a userâs well known desktop environment.
"We have always designed The Richmond Suite with the user in mind ensuring it is user friendly and intuitive. Moving the suite to .NET was a natural step," said Charles Palmer, Chief Designer and Architect. "It combines the best of the latest windows technology with the depth and breadth of our existing products. For most of our users, self-sufficiency and cost effectiveness is absolutely key as many lack IT resources and support, and can ill afford to dedicate already scarce treasury resources to a larger system implementation effort."