RFP News

Published on Nov 05, 2010

IT2 Treasury Solutions Inc announces that Chemtura Corporation has completed the implementation of the substantial first phase of the rollout of the IT2 treasury management system. IT2 now supports Chemtura’s domestic and international cash, treasury, cash accounting and financial risk management functions, in live operation. Chemtura will soon rollout the application of IT2 for trade finance using LCs and guarantees, debt and investment.

Stephen Forsyth, Executive Vice President and Chief Financial Officer at Chemtura, explains: “IT2 is now helping our efforts to build “best-in-class” treasury operations that evolve to meet future needs. I am pleased with the way that the Chemtura and IT2 teams have worked closely together to deliver a high quality implementation and the quality of technical support provided by IT2. The higher levels of control, automation and dependability which we are now achieving enable the team to focus on more strategic, forward-looking thinking.”

“Chemtura have worked most effectively to maximize the value they are achieving from their investment in IT2,” add Steve Bullock, IT2 Treasury Solutions’ Senior Vice President and Regional General Manager, North America. “They have deployed IT2 to achieve a step change in the quality of daily treasury operations – and also as a platform to help realize their strategic vision for treasury.”

At Chemtura, IT2 has replaced an in-house system. The second phase of Chemtura’s IT2 project is now in progress; it involves the deployment of IT2 NET to Chemtura’s world-wide network of subsidiaries, primarily for the 24/7 communication of cash forecasts and requests for funds. **

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