Northern Gas Networks Limited (NGN) is the British company responsible for distributing gas to homes and businesses across Yorkshire, the North East and northern Cumbria, England. NGN is based in Leeds and is one of eight gas distribution networks in the United Kingdom.
After an extensive request for proposal process, NGN chose to acquire and implement titantreasury. titantreasury is both a risk and cash management solution developed by 3V finance and supported by Centrus.
Thanks to the close collaboration between the NGN, Centrus and 3V Finance teams, implementation has been achieved in 4 months and NGN is now live with titantreasury covering its treasury management and risk analysis while also integrating with existing internal systems.
“We originally selected titantreasury to meet our system needs for derivatives valuations and IFRS9 hedge accounting but already it is giving us so much more, including the automation of interest payments and monthly finance charges accruals and streamlining our reporting and forecasting processes. We expected implementation and training to be very challenging as the COVID-19 pandemic meant that everything had to be done remotely but the expertise of the Centrus and 3V Finance teams combined with their relentless focus on our needs as the customer meant that the process ran very smoothly.”Ian Clark, Head of Treasury – NGN