IT2 will support the activities of the treasury department in the U.S. and overseas. The system solution will address Dow Corning treasuryâs central business issues, including cash and liquidity management (with cash forecasting), financial asset investments, STP settlement and payments processing, in-house banking, multilateral netting, FX hedging, financing and funding.
The IT2 solution will also support leasing, trade finance via L/Cs and guarantees, treasury accounting and hedge accounting, with an interface to the SAP General Ledger, and support for FAS 133 Hedge Accounting and FAS 157 Fair Value Measurements. The system will generate the required operational and management reporting, and will provide the necessary SOX controls and documentation.
Jan Hjalber, Dow Corning Vice President & Corporate Treasurer, explains: âDow Corning selected IT2 because it offers a comprehensive solution that will fully support Treasuryâs priority business objectives.â
âDow Corning operates a sophisticated and diverse treasury operation,â adds Steve Bullock, IT2âs Senior Vice President and Regional General Manager. âIT2 will provide a secure STP environment that will help the team to focus on their professional priorities, in compliance with internal and external policy and regulatory requirements.â