Textron Inc. (NYSE: TXT) and FXpress Corporation, will co- present âDematerializing FX and Bank Relationship Practices to Achieve Sarbanes Complianceâ at the 2006 Association for Financial Professionals (AFP) Annual Conference in Las Vegas. The presentation will feature Textronâs Six Sigma methodology and technology-based best practices for Foreign Exchange and Bank Relationship operations.
Textron has developed a model designed to eliminate paper-based workflow and processes, decrease operational costs and improve controls to ensure Sarbanes compliance. Additionally, Textronâs treasury group has achieved operational efficiencies and significant cost-savings by automating core business processes. This corporate goal was in part realized by the deployment of a fully web-enabled, self-service treasury model designed to maximize foreign exchange trading and bank relationship management process dematerialization.
âThe treasury group has undergone significant transformation by utilizing Six Sigma methodologies and by implementing and leveraging core technology solutions,â said Bob Hemstreet, assistant treasurer at Textron. âAlong with FXpress, we are honored to present our best practice processes to the AFP audience.â
âFXpress has and will continue to work closely with Textron to develop a product strategy that meets the goals of both of our organizations,â said Eric Newberg, product manager at FXpress. âWe are pleased to have the opportunity to share knowledge and open a dialogue about core FX and Bank Relations best practices with other practitioners during the AFP conference.â
FXpress will also exhibit at the AFP conference for the sixth consecutive year. Product demonstrations and company information will be available at Booth 537.