PricewaterhouseCoopers New Zealand selects Visual Risk as the core system for their new Treasury Outsourcing business
Visual Risk is 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 more detail on the new PwC Service see:
http://www.pwc.com/nz/RiskSolutionsBoardReporting (PDF file)
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Welcome to our new clients
The Visual Risk client base continues to expand. We would like to welcome the following new clients:
Please click here for a comprehensive listing.
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Featured Client - Aurora Energy Limited
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
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Functionality Focus:
Debt Facility Management
The GFC has focused a great deal of attention on bank debt facilities as companies seek to secure and strengthen their balance sheets. In response to this need, Visual Risk has developed the most comprehensive and advanced debt Facility management module available today. This module includes the following features:
- Maps debt maturity profiles
- Manages multiple tranches within facilities
- Handles drawdowns in multiple currencies
- Checks and validates drawdown conditions
- Reports current facility usage
- Includes bank guarantees
- Reports agency, commitment and usage fees
Cashflow-at-Risk Stress Testing
Interest rates, FX and commodities prices are highly volatile as markets move to find their new equilibrium levels in the post-GFC environment. The risk posed to company cash flow by these unpredictable and often violent shifts is causing great concern for many Boards.
Visual Risk offers advanced Cashflow-at-Risk analytics to help treasurers stress test their portfolios. The powerful calculation engine can simulate thousands of price paths using advanced algorithms and maps the effect of these market movements on your long-term cash flows. It actively quantifies market risk sensitivity based on your underlying positions and allows you to dynamically analyse and stress-test both existing portfolios and alternative hedging strategies. Through realistically quantifying the magnitude of future cash flow risk posed by volatile markets, risk managers and Boards are better informed and therefore better equipped to implement the most appropriate and optimal risk management strategies.
To find out more about this powerful Visual Risk functionality, please contact us
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Aurora Energy