SYDNEY--(BUSINESS WIRE)--Jemena, an $11 billion, Melbourne-based company that owns and manages some of Australia's most significant gas and electricity assets, is now live on GTreasury to support its risk management and hedge accounting activities. GTreasury is a digital TMS platform for integrated treasury management and risk management.
“We wanted one, cloud-based TMS that could handle complex instruments, hedge accounting and compliance, and integrate easily with trading, data and settlement systems,” explains Jemena Treasury Manager Jean Feng. “Before implementing GTreasury, we spent so much time logging in and out of different systems, re-keying entries and keeping accounting records manually. Now we can easily execute a trade and back-to-back it down to our subsidiary structure, automatically.”
The Jemena team is using a range of GTreasury capabilities to manage their debt and hedging programs and comply with IFRS9 hedge accounting requirements as well as IFRS13 requirements for credit valuation adjustments (CVA). In addition, all facilities and guarantees are recorded and processed in the system. Jemena is also straight-through processing treasury-related payments and automating the creation of general ledger postings. GTreasury’s connectivity capabilities automate the loading of back-to-back FX forward and swap transactions, which are executed on an FX trading platform.
“We’re making treasury work easier for companies all over the world and are happy to have delivered on Jemena’s core treasury objectives. We’re thrilled to have energy/utility leader Jemena part of our global client community,” says Robert McGuinness, Director of Sales, APAC at GTreasury.
To find out more about GTreasury, please visit www.GTreasury.com or email Marketing@GTreasury.com.
About Jemena
Jemena is an $11 billion company that owns and manages some of Australia's most significant gas and electricity assets. Jemena also part-owns the ActewAGL electricity and gas distribution networks in the ACT and United Energy, which supplies electricity to more than 600,000 customers across south-eastern Melbourne and the Mornington Peninsula.
More information on Jemena can be found at www.jemena.com.au
About GTreasury
GTreasury is a digital TMS platform that gives organizations cloud access to integrated treasury and risk management solutions. Its design leverages new technologies to connect treasury’s ecosystem, enabling the seamless flow of data across and beyond the enterprise for new and smarter ways of working. With GTreasury, organizations can implement any combination of integrated Cash Management, Payments, Financial Instruments, Accounting, Banking, Risk Management, and Hedge Accounting in one SaaS solution. GTreasury is headquartered in Chicago, with offices in North America, EMEA and APAC.
