BEST-IN-CLASS SOFTWARE TO COMPLEMENT THE COMPANY’S COMPREHENSIVE SERVICES AS A KEY ENABLER OF LESSORS’ TREASURY TRANSFORMATION
NEW YORK — May 2, 2019 — Zeevo Group LLC (“Zeevo”), a business, finance and information technology consulting services firm, announced today a new strategic alliance with Ireland-based Salmon Software Systems (“Salmon”), a leading provider of treasury management software for treasury teams across industries.
Zeevo clients, in particular aircraft lessors, will now have access to the firm’s comprehensive treasury advisory services augmented with Salmon’s integrated treasury platform, which are designed to optimize liquidity management, provide advanced risk monitoring, and enhance operational risk management.
“The alliance between Zeevo and Salmon demonstrates how the combination of the best-in-class advisory services and the latest technology solutions can boost aircraft owners and lessee managers’ cash management and treasury operations capabilities,” said Zeevo Group Principal and CEO Joey Johnsen.
Salmon’s industry-proven treasury system features seamless and progressive web apps, enabling treasury teams to centralize or decentralize operations and manage unlimited accounts, facilities, books, funds, dealers, and business entities. Salmon has deployed its solution with more than 100 customers globally, including leading aircraft lessors and manufacturers.
As part of the alliance, Zeevo will provide strategic direction and business development support to advance Salmon’s further growth in key markets around the world, specifically facilitating the company’s foray into the North American market by leveraging Zeevo’s extensive network and knowledge of the leasing sector.
John Byrne, CEO and Managing Director of Salmon Software Systems, commented: “As we continue to grow our customer-base worldwide, we find significant interest in aircraft leasing, as well as in the North American market, for our state-of-the-art solution. Teaming with Zeevo will allow us to leverage their consulting expertise, technology excellence, and deep knowledge of the North American and aircraft leasing markets to deliver a key enabler of lessors’ treasury transformation.”
On the sidelines of the Airfinance Journal North America 2019 conference held in New York, Zeevo also broached concerns about the fast-approaching end of LIBOR, and how the transition to alternative rates poses an enormous challenge for lessors and their readiness.
Johnsen elaborates that “many of lessors’ contracts in place currently run past the 2021 deadline, making the transition from the London Interbank Offered Rate (“LIBOR”) to an alternative rate a real concern. Lessors must start now to manage the financial and legal risk associated with the LIBOR transition and turn a challenge into an opportunity. The Zeevo team has both the expertise and the experience in facilitating such transition for lessors.”
The alliance with Salmon also will enable Zeevo to provide lessors immediate access to the industry’s first treasury management software that has been recalibrated with new algorithms to facilitate a smooth transition from LIBOR to the Sterling Overnight Interbank Average Rate (“SONIA”) as the benchmark interest rate. Byrne points out that Salmon system changes “make the process pretty straightforward for the clients. We have one or two that have already successfully completed it.”
Johnsen concluded: “We are committed to enhancing the performance of our clients’ treasury management operations and continually monitor developments in technology. We are invariably on the lookout for third-party products likely to be of benefit to our customers that can be adapted and integrated into their systems. We look forward to building a successful collaboration with Salmon and delivering significant results in increased working efficiency of our lessor customers through the use of Salmon’s treasury platform.”
Zeevo Group LLC (“Zeevo”) is a leading global professional services company, delivering advanced solutions designed to reinvent our clients’ operations and unleash their competitive edge. Combining unparalleled experience and deep industry expertise in improving the effectiveness and success of processes, policies, teams, and technology, Zeevo delivers proven results that create sustainable value for our clients’ shareholders and achieve their desired vision. Our business-led, technology-enabled solutions cover all aspects of business, including process design, performance improvement, operations and IT optimization, and finance transformation.