Seeking to consolidate its far-flung treasury operations and make financial information more centrally available, $20-billion global company Tyco International has hired IT2 Treasury Solutions Ltd. to provide an enterprise-wide system. Tyco, which grew through acquisitions, has treasury hubs in New Jersey, Luxembourg, Switzerland and Singapore that oversee five financial reporting segments and business across 50 states and 60 countries.

“This is an effort to improve the integration of the treasury function across our businesses,” says Tyco spokesman Paul Fitzhenry.

IT2's treasury management system will give Tyco “real-time, enterprise-wide visibility of cash and risk,” says IT2 CEO Kevin Grant, as well as integrate Tyco's domestic and multinational operations and five business units. Those include ADT Worldwide; Fire Protection Services; Safety Products; Flow Control; and Electrical & Metal Products. IT2 has done similar work for such global companies as Abbot Laboratories, Chiquita Brands, Hyatt Corp. and Marriott Corp.