SAP NEWSBYTE – December 08, 2010 – SAP customer AkzoNobel has won awards for the “Treasury Technology Implementation Project of the Year” and “Treasury Team of the Year” at the inaugural gtnews Global Corporate Treasury Awards, sponsored by Bank of America Merrill Lynch and held at Sibos 2010 in association with SWIFT. The company was recognized for transforming its treasury operation from a reaction-oriented organization to a highly dynamic and strategic business unit.
AkzoNobel, a Global Fortune 500 company, is the largest global paints and coatings company and a major producer of specialty chemicals. The company chose the SAP® Treasury and Risk Management application to support its treasury transformation project. With software from SAP AG (NYSE: SAP), AkzoNobel optimized its global transaction banking infrastructure, redesigned treasury policies and integrated, automated and standardized its treasury systems and processes.
Treasurers are demanding more from their treasury management systems to provide an accurate, instant and global view of their cash and liquidity positions, and of their business overall. SAP Treasury and Risk Management helps treasury and cash managers gain insight and control over hedging transactions, pooling and allocations of cash globally. It also fully enables straight-through-processing of banking, corporate treasury and financial accounting processes. SAP empowers corporate treasurers with meaningful and timely information required to better assess credit and financial risks as well as liquidity, which is critical to running a successful business.
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