Aergo Capital has selected Salmon Software’s digital treasury management system (TMS) to help manage the lessor’s portfolio of 234 assets, currently serving 75 airlines across 46 countries.
Recognising that its largely manual treasury processes, a labour-intensive venture, could be streamlined with the help of a good TMS, Aergo Capital commenced its selection process. The company’s financial controller Paul Laszzalette also attributes Aergo’s growth over the last years to be an additional driving factor, describing a gradual recognition that the company’s financing activities were nearing a stage of “critical mass”.
After an initial consultation period, Samon’s TMS software was adopted in a modular package, with Aergo’s assistant vice president of funding Jerry Buhna reporting that the implementation has “flowed well” to date. The roll-out of the full system is expected in early 2024.
Aergo’s primary bank Barclays was also integral to the success of the TMS adoption, with the team playing a ‘pivotal role in the overall success of the adoption’. The lessor’s service provider Atoo Information Technology also played a core role in navigating the project’s complexities.
Although 95% of Salmon’s software has already been adopted by Aergo, a second phase will see extra functionality integrated into the system, such as a module concerning bank reconciliations. “From the requirements of the funding team, [the TMS] is just as we expected,” concluded Buhna. “In fact, it has exceeded my expectations because whenever there isn’t a clear solution for something, there’s always a good workaround that Salmon and ourselves can come up with”.