Fintech firm Salmon Software announces African expansion
Move to boost choice and competition for Treasury Management Systems (TMS) in Africa
Salmon Software, the Irish headquartered Treasury Management Systems (TMS) specialist, has announced the establishment of a new African operation based out of Cape Town, South Africa. Former SunGard and Wall Street Systems senior executive, Richard Ndefo has been appointed Regional Manager for Salmon Software to expand operational and commercial growth in the area.
“We see this move as boosting Treasury Management Systems (TMS) competition in the African market and bringing the option of much needed choice to corporate treasurers,” commented John Byrne, CEO, Salmon Software. He added that research assisted by Enterprise Ireland suggests significant potential for an independent, service focused and affordable TMS solution across the region.
Salmon Software’s new African operation will target English speaking markets including South Africa, Kenya and Nigeria. “Based on my previous customer experience in the sector, I’m confident that the region will enthusiastically welcome a fresh, innovative and customer centric TMS/ Treasury Workstation player like Salmon Software,” commented Richard Ndefo. “I’m looking forward to introducing Salmon Treasurer, its industry renowned elite TMS system which incorporates the latest treasury technologies and Salmon’s unique service ethos, to the region.”
Gary Thomas, business development director of Salmon Software added, “Having previously worked alongside Richard we know he brings in depth knowledge of treasury across both banking and corporate sectors. Richard has successfully implemented TMS solutions covering a variety of treasury functions; ranging from cash and liquidity reporting, reconciliation of electronic bank statements, hedge accounting and foreign exchange exposure management, and providing straight through processing solutions for the management of the deal workflow."
Salmon Treasurer provides extended treasury management functionality to manage unlimited accounts, facilities, books, funds, dealers and companies. By facilitating the automation of the majority of treasury management processes coupled with its dual on screen and detailed corporate reporting, as well as other output capability, Salmon Treasurer is a cutting edge solution for the modern day Treasury function. It is available as an on premise or cloud application.