- Extends breadth of system to incorporate integrated cash flow and risk management
London, 7th October 2005 â International brewer Scottish & Newcastle plc (S&N) is to significantly enhance its use of The Richmond Suite, Tremaâs highly effective treasury management solution for medium sized treasuries.
A Richmond client for over ten years, S&N had developed a number of processes outside the system. The companyâs need for integrated cash and risk management had also increased as a result of stringent control requirements imposed by S&Nâs Board Committee on Treasury.
The Richmond Suite will now support the enriched Microsoft .NET user environment, which affords support for multiple languages, user configurable screen layouts and navigation coupled with a powerful reporting tool at the usersâ fingertips. Mainstream release of the .NET version is planned for early Q1 2006.
"Scottish & Newcastleâs due diligence policies required us to perform a rigorous and objective market review to identify a treasury management solution capable of meeting the Groupâs current and future requirements," said Andrew McLauchlan, Treasury Development Manager at Scottish & Newcastle. "As a result, we are broadening our original implementation by adding many new features that will bring us added value through enhanced integration with our banking, accounting and market information software."
He added: "A key strategy for us is to eliminate repetitive and unproductive manual processes. We are improving treasury and cash management efficiency through the introduction of real-time data availability."
Tremaâs recent acquisition of Richmond Software was a further positive factor in S&Nâs decision according to Alan Dick, Group Treasurer at S&N.
"We were very pleased to learn that Trema had purchased Richmond and we regard this acquisition as being very positive for customers. Richmond Software has enjoyed a track record of steady growth and success. We are positive that the acquisition will help Tremaâs growth and development in the coming years."
"Companies must be confident in their ability to keep up with internal and external policies," said Kevin Grant, Director of Strategy and Business Development at Trema. "The Richmond Suite allows S&N to broaden its implementation in order to meet these changing needs. This is not only about delivering ease of use, and simplicity, but the appropriate level of risk management and functional depth."