Trema says that RWE, the giant European utility company, will use its Trema Finance KIT in both its treasury and asset management operations.
Trema says that, by introducing its complete front, middle and back office integrated system, RWE will achieve STP across all its financial operations. It says RWE will benefit from improved risk control as well as efficiency through the reduction of manual work. Trema Finance KIT will also deliver extended STP to RWE through the roll-out of dealing and reporting functionality to its global subsidiaries via Finance eKIT, Trema’s integrated web-enabled technology.
RWE selected Trema because of its convincing concept and its strong list of reference clients, both globally and in Germany, to help set standards and enhance its treasury and asset management operations. Trema Finance KIT will reduce operational risk and establish standardization of accounting at RWE as well as improve the auditing process. The use of Trema’s General Ledger Module will also enable dual accounting.
Trema Finance KIT will be implemented in a Windows operating environment on MS SQL. The system will enable RWE to cover a wide variety of asset classes, including foreign exchange, interest rate derivatives, bonds and money market instruments. RWE will also use Trema Finance KIT for inter-bank depos and loans, collateral management, inter-company lending and valuation checks.
Bernd Schulze, Project Manager, RWE, comments, “We were impressed with Trema Finance KIT’s wide range of functionality and sophisticated accounting capabilities. It is also extremely valuable to have coverage of our treasury and asset management requirements in a single system. Trema’s reputation and list of reference clients with implementation requirements similar to RWE’s has made us confident that we have chosen the most appropriate system to improve efficiency and standardize our finance function.”
Marko Sjoblom, Regional Sales Manager Germany, Trema, comments, “RWE’s selection of Trema for its systems implementation is further testament that Trema Finance KIT’s technology is robust enough to handle the requirements of a large international corporation. An increasing number of clients are recognizing that our extensive functionality offering enables both treasury and asset management in the same system. RWE is a welcome addition to our significant list of corporate clients in Germany.”