European-based Iglo Group implemented a cloud-based treasury management system (TMS) from Salmon Software, Ireland.
Iglo Foods produces, markets and distributes branded frozen foods in 11 European countries under Birds Eye, Findus and Iglo brands.
“We needed to upgrade to an automated treasury management system from Excel spreadsheets, which were proving to be too cumbersome, time consuming and unreliable,” says Gareth Roberts, IT business solutions manager, Iglo Group. “We were also in the process of being acquired, so [we] needed a faster, more accurate and auditable perspective on our treasury positions.”
Iglo implemented the software-as-a-service (SaaS) application, which is part of the Salmon Treasurer TMS suite, an on-premise offering. Salmon Treasurer helps corporate treasurers manage foreign exchange, debt, money market, treasury, banking transactions, forecasting, derivatives and other related treasury activities.
“We operate in 11 countries across multi-currencies, so we needed greater transparency of our FOREX as well as our debt positions,” adds Monika Molnar, treasury manager, Iglo. “The Salmon team has been great to deal with – highly supportive and flexible.”
The new software integrated into its banking systems and includes Salmon’s EMIR (European Market Infrastructure Regulation) reporting module.
“As one of the few remaining independent TMS specialists, we offer companies like Iglo the most comprehensive and flexible TMS currently available and at an affordable price,” says John Byrne, chief executive officer of Salmon Software.
Independent Salmon Software, which has specialized in treasury management solutions for three decades, works with other blue chip corporates across many industries, including in the food sector.
Salmon Treasurer is available across a range of modules, including cash management, debt and derivatives, credit facilities, money markets, electronic payments and trade finance to provide a complete solution to managing a treasury operation. It can be deployed as an on-premise or cloud-computing TMS solution.