Iglo Foods Savours Salmon Software Treasury Management System
Iglo Group, Europe’s largest frozen food business, has implemented a cloud based Treasury Management System (TMS) from Salmon Software (www.salmonsoftware.com). Iglo Foods (http://www.iglo.com/), which had revenues of €1.4 billion in 2014, produce, market and distribute branded frozen food in 11 European countries. Its core brands include Birds Eye, Findus (Italy) and Iglo.
“We needed to upgrade to an automated treasury management system from Excel spreadsheets which were proving to be too cumbersome, time consuming and unreliable,” commented Gareth Roberts, IT Business Solutions Manager, Iglo Group. “We were also in the process of being acquired so needed a faster, more accurate and auditable perspective on our treasury positions.”
The Software-as-a-Service (SaaS) application, which Iglo has implemented, is part of the Salmon Treasurer TMS suite which is also available as an on-premise offering. Salmon Treasurer helps corporate treasurers to manage foreign exchange, debt, money market, treasury, banking transactions, forecasting, derivatives and many other related treasury activities.
“We operate in 11 countries across multi-currencies so in particular we needed greater transparency of our FOREX as well as our debt positions,” added Monika Molnar, Treasury Manager, Iglo. The new software is integrated to its banking systems and includes Salmon’s EMIR (European Market Infrastructure Regulation) reporting module. “The Salmon team has been great to deal with – highly supportive and flexible.”
John Byrne, CEO, Salmon Software, which is headquartered in Dublin, Ireland, added, “As one of the few remaining independent TMS specialists, we offer companies like Iglo the most comprehensive and flexible TMS currently available and at an affordable price.”
Independent Salmon Software (www.salmonsoftware.com), which has specialised in treasury management solutions for three decades, works with other blue chip corporates across many industries including in the food sector, Glanbia and ABP Food Group.
Salmon Treasurer is available across a range of modules including cash management, debt and derivatives, credit facilities, money markets, electronic payments and trade finance to provide a complete solution to managing a treasury operation. It can be deployed as an on-premise or cloud computing TMS solution.