News
June 2010 - Visual Risk signs up 5 new clients
For most companies, 2009 will long be remembered as their most challenging year in recent times. Many had hoped the worst was over but market volatility is now on the rise again with corporate treasuries being forced to tighten their belts and do more with less. It is in this tough environment that the demand for treasury solutions has intensified with Visual Risk being uniquely placed to meet this demand with our broad suite of functionality.
We are very pleased to announce that Visual Risk has recently been selected by the following blue-chip clients:
- Foxtel
- Queensland Rail Passenger
- Rural Finance
- Stockland
- Toll Holdings
Once more, this re-affirms Visual Risk's status as the most widely installed treasury system in Australia and New Zealand. Our continually expanding client base now totals 100, including 37 of the ASX Top 200.
February 2010 - SBS Bank selects Visual Risk for ALM, Treasury Management & IAS 39 Hedge Accounting
Established in 1869, SBS Bank (Southland Building Society) is New Zealand's largest building society and officially received bank registration in October 2008. SBS Bank offers a wide range of banking services and products, including transactional banking, phone and internet banking, investments, residential and commercial lending, managed funds, agribusiness, consumer finance and insurance.
Visual Risk is pleased to announce that after an extensive evaluation process SBS Bank has selected Visual Risk to deliver an integrated risk and treasury platform. Michael Potter, Asset & Liability Manager at SBS Bank, explains the reasons for their decision:
"With the growth of our business and SBS Bank's recent acquisition of full banking registration status, it had become clear that it was necessary to beef up our risk and treasury management processes to bring them in line with current best practice. At the same time, we also needed a solution for complying with the onerous requirements of IAS 39 hedge accounting. In our search for a software solution it was therefore preferable that we find something that was equally competent in Asset-Liability Management, Treasury Management and IAS 39 Hedge Accounting. There were many other vendors out there with strengths in one or two of these areas but Visual Risk was really the only vendor that could cost effectively bring all three functions together in a single integrated software platform."
With the addition of SBS Bank to the growing number of financial institutions using Visual Risk in Australasia, our position in the financial services sector continues to strengthen.
October 2009 - PricewaterhouseCoopers New Zealand selects Visual Risk as the core system for their new Treasury Outsourcing business
We are pleased to announce that PricewaterhouseCoopers NZ has selected our fully integrated suite of Risk, Treasury Management and IAS Compliance modules to underpin their new Treasury Outsourcing business.
PwC New Zealand is now able to offer a full suite of integrated treasury management solutions ranging from tailored risk analysis and board reporting to back-office outsourcing based on the most advanced treasury system of its kind. The service can now deliver mid-sized companies the powerful functionality of the full Visual Risk system at a fraction of the cost of an inhouse system along with the backing of PwC's team of dedicated treasury specialists.
"PwC's selection of Visual Risk once more confirms our position of market leadership in this region" says Richard Hughes, Managing Director. "Together with PwC, we hope to continue revolutionising the way businesses manage their treasuries in New Zealand"
PricewaterhouseCoopers Partner Paul Skillender highlights the benefits of this new strategic alliance: "With Visual Risk we can provide a full range of outsourcing and consultancy services to all sizes of business, with full support from a global network of treasury and market risk experts," he says.
"This cost effective service is underpinned by the latest treasury solutions developments and best practice techniques made available by Visual Risk. It means we can provide small and medium sized clients with a full range of services covering all aspects of risk analysis - from specialised 'at-risk' and 'stress testing', to seamless fully outsourced middle and back office treasury services."
For further information, please visit http://www.pwc.com/nz/RiskSolutionsBoardReporting.
October 2009 - Aurora Energy selects Visual Risk to provide a fully integrated front-to-back office solution
We are pleased to announce that Aurora Energy has selected Visual Risk to provide a fully integrated front-to-back office solution including Risk Analytics and Reporting, Compliance (IAS 39 / IFRS 7) and Back-Office.
Based in Hobart, Tasmania, Aurora Energy is a Tasmanian Government-owned electricity distribution and retail company. The company provides service to more than 255,000 Tasmanian customers as well as to business customers in New South Wales, Victoria, South Australia, the ACT and Queensland. An expansion in treasury activities and business growth meant that Aurora needed a Treasury Solution to replace a legacy treasury system and myriad of existing spreadsheets. After a lengthy vendor evaluation process, Visual Risk was selected as the best solution to manage their treasury and accounting activities.
"A number of challenges faced us when selecting a replacement treasury system. From the beginning of the system review process to the completion of the implementation the Visual Risk staff made the process relatively easy.
"We required a system that would integrate with our existing treasury management and hedge accounting processes while offering improvements in risk reporting. External consultants were used to assess the available software solution and after stringent levels of testing they concluded Visual Risk would be the best-fit system to meet the requirements of Aurora Energy.
"An important consideration during the assessment process was to identify a solution that could provide IAS 39 hedge effectiveness testing and documentation for our interest rate and FX hedges. Given that we needed a solution in place by June 30th, with the implementation scheduled to start in late June, this presented an added challenge. Visual Risk were able to load our entire portfolio and have IAS 39 compliant documentation in place within one week, successfully completing that part of the implementation within a very tight timeframe. This was done with minimal staff disturbance which was particularly refreshing during a busy time of year.
"The Visual Risk software caters very well to Aurora Energy's treasury needs and integrates nicely into our processes and procedures. Additionally the support is proactive and knowledgeable. Overall our confidence in Visual Risk, the software and the staff is very high."
Bradley Hope - Senior Finance Analyst
Aurora Energy Limited
May 2009 - The Tatts Group selects Visual Risk
We are pleased to announce the Tatts Group has selected Visual Risk to provide a fully integrated front-to-back office solution including Risk Analytics and Reporting, Compliance (IAS 39 / IFRS 7), Treasury Management / Back-Office and General Ledger Integration.
Based in Melbourne, the Tatts Group is a provider of diversified gambling services and generates more than $3 billion revenue per annum. It accounts for more than half the lottery tickets sold in Australia.
An expansion in treasury activities due to recent acquisitions and business growth has meant that the Group needed a Treasury Solution to replace a myriad of existing spreadsheets. After a lengthy vendor evaluation process, Visual Risk was selected as the best solution to manage their treasury and accounting activities.
The Group viewed the core system functionality and the exceptional level of client support offered by Visual Risk as the key considerations during the system evaluation process.
March 2009 - Visual Risk extends Outsourced Consultancy Services
Visual Risk has extended the range of outsourced services it offers to cover:
- Compliance Reporting (IAS 39 and IFRS 7)
- Risk analysis and reporting
- Derivative valuation
Having worked closely with clients and the Big 4 accounting firms over many years, Visual Risk has developed a deep expertise with IAS 39 hedge accounting. We are now able to offer the benefits of that experience through an outsourced service to provide all necessary IAS 39 and IFRS 7 compliance documentation.
In addition, Visual Risk also offers a Risk Analysis service to value your derivative positions and quantify the future market risk inherent to your portfolios. This analysis can assist senior management to better understand and optimally manage the market and hedging risk faced by their companies.
Through cost-effective Visual Risk outsourcing, your onerous Risk and Compliance reporting processes can be streamlined and the burden on your treasury operations eased.
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