Johnson Controls' US Treasury Center Deploys Finance KIT
22 September 1999
Johnson Controls' US Treasury Center Deploys Finance KIT
-- Multinational corporation delivers integrated treasury management
services worldwide
-- Johnson Controls and Trema partner to develop a Web-based cash
management solution
-- Finance KIT provides backbone for Web delivery
BOSTON, Sept. 22 -- Trema announced today that Johnson
Controls has completed the implementation of Finance KIT, Trema's integrated
treasury, risk and asset management system, in its Treasury Center in Brussels
and is presently implementing the system at its headquarters Treasury Center
in Milwaukee, Wisconsin, USA. Johnson Controls is a U.S. $16 billion company
with operations in more than 80 countries around the world.
The U.S. deployment of Finance KIT at Johnson Controls increases Trema's
growing market share in North America. This year, Trema launched a major
initiative aimed at expanding its operations in the region, including opening
a full-service office in Boston.
Completion of the U.S. project advances Johnson Controls' objective of
providing an integrated treasury management system that electronically links
various corporate treasury centers with operating units, outside banks, and
service providers, and delivers front-office analytics, middle office
controls, and back office administrative services 24 hours a day, worldwide.
In addition to using Finance KIT to deliver integrated treasury management
services to centers in Milwaukee, Brussels, Sao Paulo and Singapore, Johnson
Controls is using Finance KIT as a backbone system that provides all users
access to the same data for forthcoming Web-based cash management services.
The company is partnering with Trema to develop and pilot a Web-based cash
management solution based on Trema's Intra-Bank Module. The solution will
include multilateral netting, third party payments, zero-balancing, cashflow
forecasting, and other advanced cash management functions.
The new Web-based cash management system will enable Johnson Controls to
achieve a multilateral corporate netting business practice across the
organization. Because netting inter-company transactions requires the
involvement of each business unit in the company, the Intra-Bank Module
enables Johnson Controls to provide a single, browser-based point of entry
that requires no special software installation. The Web-based solution also
will handle third-party payments and related reports and queries.
"Johnson Controls' treasury operations bring new meaning to the term
state-of-the-art," said Kari Makela, Chairman of Trema Group. "We are pleased
to work with a corporation that is spearheading the Internet cash management
movement. Working with a large, multinational corporate with a strong U.S.
and worldwide presence means we can ensure that our Web-based solution meets
the needs of global players as well as provides functionality unique to the
North American market."
"Trema shares our vision of the ultimate treasury department: a fully
integrated worldwide treasury information system," said Ben Bastianen, Vice
President & Treasurer of Johnson Controls. "By implementing Finance KIT, we
have an integrated front, middle and back office system that gives all of our
users access to the same data and allows us to move to the Internet without
worrying about having to integrate several disparate systems first."
About Johnson Controls
Johnson Controls, Inc. is a global market leader in automotive systems and
facility management and control. In the automotive market, it is a major
supplier of seating and interior systems, and batteries. For non-residential
facilities, Johnson Controls provides building control systems and services,
energy management, and integrated facility management. Johnson Controls,
founded in 1885, has its headquarters in Milwaukee, Wisconsin. Its sales for
1999 are expected to be US$ 16.0 billion.
For more information, visit the company's site on the World Wide Web at
http://www.johnsoncontrols.com.
About Trema Group
Trema is a premier provider of strategic technology solutions and best
practice methodologies to the financial industry. Trema's flagship product,
Finance KIT is a straight-through-processing treasury, risk and asset
management system for UNIX and Microsoft Windows NT. To expand the capability
of Finance KIT to remote and mobile users, Trema offers Finance eKIT, a suite
of Web-enabled modules that provides enhanced functionality for organizations
using Finance KIT, and Finance mKIT to provide wireless access to key Finance
KIT functionality through a mobile phone. Trema's clients include key players
in the financial markets, including banks, corporate treasuries, investment
management firms and central banks in Europe, the Middle East, Africa, Asia
and North America. Trema's clients include ABB, Aegon, Anglo American
Corporation, British Aerospace, Electrolux, Ericsson, European Central Bank,
CIBA Specialty Chemicals, Hoechst, Johnson Controls, South African Reserve
Bank, Unilever and Volvo. Founded in 1992, Trema has an international staff
of over 200 and has offices in Abu Dhabi, Boston, Frankfurt, Helsinki,
Johannesburg, Sophia Antipolis, Stockholm and Zurich.
For more information, please visit the company's web site at
http://www.trema.com.
Contact: Lisa Valentine of The Stephenson Group, 518-583-0982,
lvalentine@stephensongroup.com, for Trema.