LAKE ZURICH, Ill., January 27, 2009—GTreasury congratulates its client General Electric (GE) for winning a bronze award in the Technology Excellence category of the Alexander Hamilton Awards for best practices in treasury management. The annual awards are sponsored by Treasury & Risk magazine.
GE won the award for its “Funds Transfer Redirector” project, which arose during a payments emergency when the system used by GE’s money-transfer bank failed after a weekend software upgrade. After consulting with GTreasury, GE successfully redirected 3,600 payments to Bank of New York Mellon, ensuring that payments arrived on the day promised.
GE sought advice from GTreasury on downloading payment files from its treasury management system and editing them so that they would be redirected to debit GE’s account at the Bank of New York Mellon. Subsequently, GTreasury and GE have worked on a redirector module that can automatically extract and redirect payments. The redirector module is currently in testing and is expected to be released to production as a GTreasury module by year end.
“We congratulate GE for its excellence in treasury management, and we are pleased that we can support our client in resolving and preventing an emergency as well as in normal day-to-day operations,” said GTreasury Chief Operating Officer Orazio Pater. For the whole story on GE’s award, read “Redirecting Payments Saved the Day.”
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, Wendy’s/Arby’s Group, SABIC Innovative Plastics, Prudential Financial, Barnes and Noble, and Bank of America.