Locally-developed software has won the day, with the news that the South African National Treasury Department was awarded the Barone, Budge & Dominick and Taquanta Treasury Solutions (TTS) consortium the tender to supply and install a back office system for the National Treasury’s Asset and Liability Management (ALM) Division.
The back office system is the custodian of all the state’s debt and investment administration and forms part of the ALM division, National Treasury and broader government technology ecosystem.
BB&D, in partnership with TTS, will provide the National Treasury’s ALM division’s Debt Operations with an integrated sovereign debt information management solution. The tender was administered by SITA, the State Information Technology Agency.
Johan Redelinghuys, chief director: financial operations of National Treasury, comments: "We were looking for a solution that would streamline our business processes, improve turnaround time, give better communication and control over the transaction processing and enable us to introduce further new technologies.”
The solution will be hosted by the National Treasury and comprises mainly of Microsoft technology.
Margie Catsamas, executive of BB&D, explains: "The system easily adapts to changing business processes and integrates with internal and external parties, making it very scalable and user friendly.”
Neal Anderson, MD of TTS, adds: “The Debt Management Solution will offer the National Treasury a state-of-the-art solution in terms of technology, extensibility, business process control and rich debt management functionality offered to the National Treasury business users via intuitive user interfaces.”
BB&D and TTS developed and funded the solution jointly, with TTS providing business knowledge and BB&D the technical software development.