Global Treasury Outsourcing Firm JMH Treasury Selects Selkirk Financial Technologies.Business Editors CHICAGO--(BUSINESS WIRE)--May 23, 2002 JMH JMH Jackson Memorial Hospital JMH Schaumburg, Illinois (Airport Code) JMH JSSIS Message Handler JMH James Monroe High school JMH Joint Message Holder (US DoD) Treasury announced today that it has selected Selkirk Financial Technologies' treasury management system to support two recently acquired outsourcing services, AssistantTreasurer and Vtreasurer. The integrated operations of AssistantTreasurer and Vtreasurer will further JMH Treasury's vision of becoming the leading independent provider of premium outsourced treasury solutions. AssistantTreasurer, based in Atlanta, has relied on Selkirk's technology and customer support since inception. JMH Treasury's selection of Selkirk for its Dublin-based Vtreasurer service was a strategic move. With Selkirk's technology powering both solutions, JMH Treasury will achieve greater economies of scale by leveraging resources, information and workload between the two treasury centers. "Selkirk has demonstrated continuous success in delivering innovative solutions and first-class customer service in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. ," said Declan Lynch Declan Lynch is an Irish journalist, writer and playwright.He was born in Athlone, Ireland and now lives in Dublin Ireland. He currently works for The Sunday Independent. Works Books
According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a survey conducted by Hewitt Associates Some of the information in this article may not be verified by . It should be checked for inaccuracies and modified to cite reliable sources. Hewitt Associates , the economic slowdown has made outsourcing even more attractive, with 33% of CFOs saying their interest in outsourcing has grown. Said JMH Treasury president Stephen Gunning, "Bottom-line demands will make treasury outsourcing more commonplace for the majority of large and mid-size enterprises in the next few years." "Outsourcing is a very attractive proposition in today's workplace, where retaining skilled treasury personnel can be extremely challenging," said Selkirk's chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. Lyndon J. Harvey. "AssistantTreasurer and Vtreasurer combine the treasury expertise of JMH Treasury with Selkirk's advanced technology, enabling organizations of all sizes and needs to improve treasury management without incurring the costs of staffing a department." With AssistantTreasurer and Vtreasurer, clients have access to a comprehensive Web-based system for consolidating bank account balances, making wire requests, and confirming trades. Both services automate day-to-day cash operations, treasury dealing and administration; multilateral netting, foreign exchange, hedging and settlement; cash forecast consolidation and planning; and payments, collections and lockbox Lockbox A collection and processing service provided to firms by banks, which collect payments from a dedicated postal box to which the firm directs its customers to send payment to. services. Clients can access, enter, authorize To empower another with the legal right to perform an action. The Constitution authorizes Congress to regulate interstate commerce. authorize v. to officially empower someone to act. (See: authority) , query and distribute consolidated treasury data in a secure, real-time environment. "Customers can confidently shift the daily burden of executing transactions, confirming deals and producing reports to a trusted third party In cryptography, a trusted third party (TTP) is an entity which facilitates interactions between two parties who both trust the third party; they use this trust to secure their own interactions. TTPs are common in cryptographic protocols, for example, a certificate authority (CA). , while retaining control of decisions impacting daily cash positions," said Edward C. Gordon, AssistantTreasurer's chief operating officer. "In addition to saving time, the substantial operational and strategic benefits include reduced risks, improved portfolio management and lower costs." About JMH Treasury JMH Treasury is the leading provider of outsourced corporate treasury solutions and is a unit of J M Huber Corporation, one of the largest privately held companies privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. in the US. With a 123-year history, it provides JMH Treasury with a strong base on which to develop a truly global outsourcing solution. Their unique bank-neutral model is focused on enabling clients to achieve and sustain measurable improvements in working capital, cost and operational efficiency by providing companies with unprecedented access to process expertise, experienced professionals and leading edge technology. JMH Treasury employs 50 people in Dublin, Edison, Atlanta and Amsterdam, and recently opened an office in San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden to service the Asia Pacific market. For more information, visit www.jmht.com. About Selkirk Financial Technologies Selkirk Financial Technologies Inc. is a leading provider of world-class treasury management solutions. For over a decade, Selkirk has helped organizations optimize their financial performance. Today, more than 150 prestigious clients-including JMH Treasury, Weyerhaeuser, Magna, NEC (NEC Corporation, Tokyo, www.nec.com, www.necus.com) An electronics conglomerate known in the U.S. for its monitors. In Japan, it had the lion's share of the PC market until the late 1990s (see PC 98). NEC was founded in Tokyo in 1899 as Nippon Electric Company, Ltd. Capital and Bechtel-rely on Selkirk's sophisticated treasury solutions for managing liquidity, forecasting cash flow, consolidating bank information and mitigating risk. Since the release of its first treasury system, Selkirk has experienced tremendous growth and was awarded the Deloitte & Touche Technology Fast 500, a ranking of the 500 fastest growing companies in North America. Selkirk is also a recipient of the Fast 50 and Profit 100 awards. For more information, visit www.selkirkfinancial.com. |
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