Search
 

When It Comes To STP, Some Companies Are Switched On

Savvy treasuries are learning how to use the Internet and easy-to-integrate treasury software to connect all the dots on cash management

By Richard Gamble | Updated on September 01, 2004

When On Semiconductor Corp. was spun off from Motorola in 1999–just in time to tank along with the rest of the semiconductor industry–the Phoenix-based company decided to address the question of its survival by becoming much more efficient. Instead of hoarding liquidity, On Semiconductor went shopping for sophisticated systems to replace the highly manual legacy technology it inherited from Motorola. Its executives settled on an Oracle ERP system for its backbone and a Quantum workstation from SunGard Treasury Systems for its treasury processing. Then, as often happens in life-threatening situations, people managed to see beyond departmental divides. “We were in survival mode for almost three years,” recalls Gerald Freeman, assistant treasurer and corporate risk manager. “We knew we had to work together. The walls of functional protection came down.”

BONDING OVER TECH

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2024 ALM Global, LLC. All Rights Reserved.