|By Business Wire||
|February 10, 2014 05:24 AM EST||
Arqiva, the communications infrastructure and media services company, has implemented a Treasury Management System (TMS) from Salmon Software following an international tender. Arqiva (www.arqiva.com), which has revenues in excess of £800m and employs over 2,000 people, provides a large part of the infrastructure behind television, radio, satellite and wireless communications in the UK.
The decision to contract with Salmon Software (www.salmonsoftware.com) was taken in anticipation of Arqiva’s £5 billion refinancing successfully completed in February 2013. “It was clear that the scale and complexity of our refinancing would introduce a material increase in debt, cash and derivative transactional volumes,” commented Tony Winterbourn, Deputy Treasurer, Arqiva.
“The investment in Salmon, allowed us to house our financing transactions in one secure area, providing greater transparency and a significantly enhanced reporting solution to both internal and external stakeholders. The automated processes utilised within Salmon also enabled us to minimise the investment required in headcount whilst catering for a near ten-fold increase in transactional volumes.”
Arqiva selected Salmon Treasurer following an intensive tender process involving nine international TMS providers which included numerous site visits to the shortlisted vendors’ customers.
“Salmon Software won due to its flexibility, cost and delivery team,” commented Tony Winterbourn. “The Windows compatibility and organised database structure of the platform was a key strength and should allow us to implement future changes in house. We were impressed that the Salmon presentation team were also the people who managed the implementation to its successful conclusion including the development of bespoke inflation derivative functionality. The TMS project was delivered on time and on budget.”
“Many of our competitors have grown by acquisition and so have problems integrating legacy products which means their customers often end up bearing the cost of this,” commented John Byrne, CEO, Salmon Software. “Arqiva is one of an increasing number of global companies discovering the value of dealing with an independent TMS firm which has invested continuously over three decades in a single TMS solution.”
The Salmon Treasurer is aimed at corporate treasurers to manage debt and derivatives, cash management, electronic payments, money markets, foreign exchange, treasury, banking transactions and many other related corporate treasury activities.