GTreasury, the best kept secret in treasury automation is out of the box in 2010!
LAKE ZURICH, IL— GTreasury experienced significant growth in 2010. “We believe our unique ability to provide a depth of comprehensive and scalable functionality and company-wide focus on superior customer service continues to set us apart in the marketplace. This coupled with new marketing initiatives and the expansion of our sales team have spring-boarded GTreasury into a driving market force,” said Orazio Pater, Chief Operating Officer of G Treasury SS, LLC.
Among the new customer base are marquis companies such as:
- BCS Financial Corporation
- Shure Inc.
- PharmaNet Development Group Inc.
- Mondial Assistance
- Colonial Properties Trust
About G Treasury SS, LLC
GTreasury is a global provider of advanced technology for corporate treasury, cash & liquidity management. Our treasury solution is tailored specifically to each company to connect to their unique partner banks, show real-time balances and cash positions, automatically reconcile transactions to the GL, integrated forecasting through robust tools, set up automated payments, sweeps and much more. The GTreasury platform offers unparalleled security to access your data any-time, any-where.
The GTreasury platform is modular and therefore scalable to your unique business requirements. Currently over 350 companies world-wide leverage our technology on a daily basis to achieve greater visibility into cash, streamline processes and improve controls. Our customers span the gamut of revenue size, treasury department complexity and type of industry.
LAKE ZURICH, Ill., April 12, 2010—Treasury automation through GTreasury treasury workstation software helped Love’s Country Stores grow in efficiency with minimal increases to staff. The software-as-a-service (SaaS) treasury management software automates all treasury tasks, from cash position calculation, to electronic payment initiation, through general ledger reconciliation.
When a company grows, its employee base generally grows with it, on both the operations and administrative sides of the business. In the case of the treasury department of Love’s Travel Stops & Country Stores, a national chain of gas stations and convenience stores, the business has grown tremendously while treasury department head count has increased by only one person—all while providing improved cash management and financial reporting.
Treasury Automation Efficiencies
Carol Willett, Love’s Manager of Treasury Services, credits the company’s use of the GTreasury internet-based SaaS treasury workstation for the department’s ability to handle a radically increasing workload through treasury automation and forecasting. Love’s began using the treasury automation software from Lake Zurich, Illinois-based GTreasury—a leading provider of treasury management software and services—in 1999 to better track its accounts and avoid time-consuming manual procedures.
Love’s began as a solo filling station in Watonga, Oklahoma, in 1964, opened by Tom Love. The family-owned and operated business has expanded to 230 travel stops and convenience stores in 34 states. In the past 10 years, the company has grown to $17 billion in revenues, from $3 billion. Treasury staff has remained at three people until 2007, when the company added a fourth. Not only has Love’s treasury kept up with the increased number of transactions during that time, but it has also improved both treasury quality and efficiency.
GTreasury’s application service provider (ASP) treasury workstation has helped Love’s save time and streamline processes through:
- Daily bank balance import
- Daily reconciliation of store accounts
- Automatic generation of cash concentration transfers
- Recurring wire transfers and ACH payments using templates
- Monthly reconciliation with few or no errors
- Automatic assignment of general ledger codes to transactions
- Monthly export of transactions to the corporate general ledger
“GTreasury has been pleased to support Love’s Country Store’s growth over the years with new product developments that all GTreasury customers benefit from,” said GTreasury Chief Operating Officer Orazio Pater. “The experience we gained and improvements we have developed over 11 years working with Love’s have benefited all GTreasury clients world wide.”
For details on how treasury automation and the GTreasury SaaS treasury workstation helped Love’s, download the complete Love’s Country Store-GTreasury case study.
GTreasury™ provides the ONE Enterprise Treasury Platform for both ASP/SaaS Services and On-Site Treasury Workstations Installations. All support and development efforts, and those of its partners and clients, are focused on one seamless system. For the past 23 years, GTreasury has provided best-of-breed treasury and cash management software and services to leading banks and corporations of all sizes and all over the globe. GTreasury’s clients include GE, Hydro Quebec, and Prudential Financial.