Sydney – 13 July 2016 – Santos, an ASX 50 company and independent oil and gas producer in the Asia-Pacific region, has chosen Reval to bring its cash and liquidity management, risk management, hedge accounting and reporting onto a single system in the cloud. Reval provides a scalable cloud platform for Treasury and Risk Management (TRM) to its clients, globally.
“We had a mix of multiple systems and spreadsheets that increased our licensing and maintenance costs and created duplicate data,” says Simon Hillier, Senior Treasury Analyst at Santos. “With Reval, we can have a one-stop shop that will give us complete visibility into our operations and will keep us future-ready to scale up as required.”
Santos Treasury will be using the Reval Cloud Platform for straight-through processing of its transactions and treasury payments, and integration with the General Ledger. Reval will also help Santos with managing its hedge strategies, hedge accounting compliance and reporting.
“Santos is a forward-looking company that understands how treasury technology has changed significantly over the last 10 years,” says Tony Singleton, Managing Director, APAC. “We are thrilled that Santos has chosen Reval as its treasury partner, recognising that we have always been committed to continuous innovation.”
Santos is using Reval’s ClearPath migration service to make it easy to switch out its legacy technology for the Reval Cloud Platform. Reval’s ClearPath provides expert migration specialists and data transformation functionality to ease the burden usually associated with technology migration.
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