by Klaus Gerdes, Head of Treasury, ALTANA Group
ALTANA was operating as a pharmaceutical company with a small chemicals division until it was sold to Nycomed. Boosted by a series of acquisitions, ALTANA repositioned its business as a speciality chemicals company. The former treasury function remained with the pharmaceutical business, so the new ALTANA needed to set up a new Group Treasury function. In this article, Klaus Gerdes, Head of Treasury at ALTANA, describes Group Treasury’s experience of acquiring a treasury management system (TMS) to support the new business.
Evolving technology needs
When we first set up our Group Treasury function, our functional requirements were relatively straightforward so a specialist TMS was not required. Over time, however, our treasury requirements have expanded and become more complex, which prompted a TMS selection project.