TINE BA Chooses IT/2 Choice

TINE BA, the largest dairy co-operative in Norway supporting some 20,000 farmers, has selected SimCorp’s IT/2 Choice for its cash and treasury management. The system will be used for liquidity forecasting and for tracking assets, market activity, deposits and loans to support its corporate treasury.

Prior to choosing IT/2 Choice, TINE BA was using Excel spreadsheets, but needed more accuracy in its liquidity forecasting and better risk management than spreadsheets could provide. With IT/2’s straight through processing capability combined with its comprehensive functionality, TINE BA found the system it required.

The IT/2 Choice marketing model was particularly attractive to TINE BA. "We very much liked the ability to be able to try the system before purchase without incurring any costs," explains Lars Strøm Prestvik, finance manager at TINE BA. "We also liked the flexibility we had to choose the exact functionality we needed combined with the 100% transparency in the pricing of those modules. The fact that there is no initial license fee is also very attractive, of course!"

This pricing model significantly brought the price down and made the internal clearance process much easier as Lars explains, "We had reviewed the market and narrowed our selection down to three systems before making our final decision. SimCorp’s IT/2 Choice was the only one that could offer us the level of functionality we need at such a competitive price."

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