February 4, 2008
PORTLAND, Maine
- Masco Corporation Chooses Speranza Command Center to Manage Global Bank Relationships,
Speranza Systems, an innovator in web based solutions for global bank account, bank mandate and bank relationship management, today announced that Masco Corporation (NYSE:MAS), one of the world's leading manufacturers of home improvement and building products with such well known brands as Delta Faucets, Behr Paints and Merillat Cabinets, as well as a leading provider of installation services and various building products will utilize the Speranza Command Center. Speranza Command Center, a web-based platform that streamlines how companies interact with their financial institutions, offers corporate treasurers and CFOs the capacity to stay on top of regulatory demands in any region in the world, prevent fraud, enable accurate reporting on bank accounts, reduce bank fees and dramatically improve productivity.
Masco will be using Speranza Command Center to improve efficiency and promote a treasury-wide effort towards a paperless office. The Command Center will enable Masco to keep up with regulatory requirements and speed auditing processes by automating the bank account open and close process
“By automating these traditionally paper-based processes, forward-looking corporations such as Masco are able to more precisely manage complex systems such as compliance while preventing fraud and ensuring audit accuracy,” said Glen Solimine, CEO of Speranza Systems. “Today, these core business processes require a significant investment of time and effort on the part of treasury officials in many multi-national corporations. Masco is looking toward a tomorrow where treasury officials will be able to spend that time and energy on maximizing revenue not just managing workflow.”
Designed to be used in conjunction with treasury systems, enterprise resource planning and human resources systems, the Speranza Command Center is a suite of three complementary products that are sold along with a professional services package:
Account Management Center - a single, centralized and secure repository for all information concerning corporate bank accounts that enables managers to see, edit and report on account access and provides instant document generation.
Bank Management Center – a real-time scorecard that provides a 360-degree view of all the corporate banks a company works with, including information on fees, services, ratings, credit profiles and much more.
Authority Management Center – a single, central and auditable record of who is authorized to initiate, approve or sign any type of financial transaction.
Professional Services – Speranza’s professional services team designs and implements the Command Center suite to automate the workflow processes established at the corporate client site. The team ensures that the Command Center’s processes match the client’s requirements and controls and synchronizes with those of each individual bank counterparty.
Using a distributed web based architecture, Speranza Command Center controls delegation of authority and execution of mandates, automatic document generation, and digital signatures. Account information is updated in real time.
About Speranza
Speranza Systems recognizes the complexities faced by mid–to–large size businesses and has built an enterprise–class framework to simplify and track complex financial relationships. Speranza Systems is defining bank relationship management to include control of the delegation of authority, execution of the appropriate mandates, business intelligence, automatic document generation, digital rights and digital signatures. Speranza Systems knows that the right tools can leverage regulatory requirements, cut through chaos and utilize electronic efficiencies to turn compliance into competitive advantage For more information, visit www.speranzasystems.com.
