Corporate financial risk management software-as-a-service (SaaS) provider, Reval, has launched a new updated version of its SaaS solution for integrated enterprise treasury and risk management. According to Reval, its version 11.1 is the first time complex risk and deep cash and liquidity functionality is combined into a single SaaS solution capable of managing treasury requirements of more sophisticated organisations.
“We are very excited with the launch of our single solution which we believe can at long last deliver anything that a treasurer should expect from an enterprise treasury solution and more,” said Jiro Okochi, chief executive and co-founder of Reval. “Since 2008, CFOs and their treasurers have stepped up their call for the ability to better manage their financial risk, cash and liquidity, globally.”
Laurie McCulley, managing director of consulting firm, Treasury Strategies, says that as the function of treasury continues to expand and evolve into the corporate financial nerve centre, organisations are increasingly looking to SaaS technology to provide visibility and control of critical financial operations as well as a view of risk. One advantage of SaaS is that it is typically implemented over the internet or behind a firewall on a local area network without having the need to individually install software on computers or laptops.
Reval’s SaaS solution is comprised of 12 modules which offer flexible views for global cash management and liquidity, including funding, investing, transactions and payments. It provides a single platform and offers a single sub-ledger for all treasury accounting entries says the firm.
“Treasury organisations are in transition as they re-evaluate how technology can deliver the intelligence they need to support strategic decision making,” said Philip Pettinato, chief operating officer at Reval. “Specifically, they are looking for better visibility and control into positions and exposures across business units and subsidiaries around the world. If a single SaaS platform can provide these organisations with an affordable and scalable way to adapt, optimising treasury and risk processes across the enterprise without compromising the depth of functionality they’ve found in point solutions, then we will have helped usher them in a new phase of treasury management.”
In addition, Reval has partnered with Fides Treasury Services (Fides) to help corporations more easily and cost-effectively connect with any bank without leaving the Reval environment which enhances the straight-through-processing (STP) experience for Reval’s clients on the new version of its SaaS solution.
“Through our STP community we proactively establish the connections for our corporate clients that make their lives easier and their workflow more efficient,” said Jim Gilbert, vice-president for strategic alliances at Reval. “With Fides, clients can stay on the Reval system, access their bank balances and statements and avoid the cost and the hassle of connecting to multiple bank interfaces independently.”