EMERYVILLE, Calif., July 17, 2003 -- SymPro, Inc., a provider of Treasury Management Software for the government and corporate sector, announced that the Honolulu Board of Water Supply has chosen SymPro to provide treasury management software and related services.
The Honolulu Board of Water Supply purchased SymPro's Treasury Management Software as part of an enterprise-wide solution that included fixed-income investment management. SymPro partnered with IBM and JD Edwards to provide an integrated accounting and treasury management solution.
Clifford Jamile, Manager and Chief Engineer for the Honolulu Board of Water Supply, commented, "even though we use an outside investment manager, we needed SymPro's software to validate the data supplied by our bank, broker, and investment manager. SymPro provides an independent, third party verification of the financial information such as investment interest, pricing, and overall performance that we receive from outside vendors."
Jamile added, "in addition to using SymPro to reconcile our custody statements, we are using SymPro to produce compliance reports and to create entries for our general ledger. We anticipate significant time savings and increased data accuracy by using SymPro to create general ledger entries. SymPro's Cash Flow module allows us to schedule our maturities to better meet our financial obligations."
Jim Connor, President and CEO of SymPro, commented, "we've seen an increasing trend among government entities to fulfill the fiduciary responsibility of prudent investment management by verifying asset values, income and return information. Connor continued, "the SymPro solution allows an agency to identify and report on the specific results of internal and external managers as well as reporting on a consolidated basis."
About SymPro, Inc.
SymPro provides Treasury Management Software solutions to government and corporate treasury departments. SymPro automates the analysis, performance tracking, compliance and financial reporting on investment, debt, and cash portfolios. SymPro software enables government and corporate sector organizations to efficiently manage their portfolio and to provide comprehensive, professional, and accurate reporting. More information on SymPro is available at www.sympro.com.
