It was announced that the South African National Treasury Department awarded the Barone, Budge & Dominick (Pty) Ltd (BB&D) 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.
Says Johan Redelinghuys, Chief Director Financial Operations of National Treasury: "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. Explains Margie Catsamas, Executive of BB&D: "The system easily adapts to changing business processes and integrates with internal and external parties, making it very scalable and user-friendly."
Adds Neal Anderson, Managing Director of TTS: "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.
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Barone Budge & Dominick is a privately owned, black empowered company founded in 1984 whose core expertise and culture is software development. With more than 220 software developers based in Johannesburg and Cape Town, BB&D has undertaken over 200 large-scale software development projects for a wide variety of clients across a range of industries. BB&D favours long-term strategic relationships with clients and has proven to be flexible and agile over the past 23 years, successfully adapting to a number of paradigm shifts. Being technology agnostic, BB&D is in the ideal position to ensure the correct tool is used for the challenge at hand.
Taquanta Treasury Solutions
Taquanta Treasury Solutions (TTS) is a wholly-owned subsidiary of the black empowered financial services group, Taquanta Investment Holdings.
TTS offers the full spectrum of specialised treasury services to medium and large companies, government, local government, state-owned enterprises and banks. Currently TTS advises more than 45 clients on treasury and asset and liability management processes.
Core treasury management services include financial risk management, liquidity such as the day-to-day cash management of the business, funding such as managing the capital structure of the business and regulatory compliance. The company's extensive range of professional services is provided on an agency basis. In addition, specialised, customised, software-based systems contribute to the company's range of offerings.