Cloud-based treasury management services provider Reval wants corporate treasurers to make global connections. The company has just launched the updated Reval Cloud Platform treasury and risk management tool, offering updates that aim to connect corporate treasurers with international partners.
For Reval Chief Technology Officer Philip Pettinato, the upgrades are largely focused at helping corporate money managers overcome the hurdles of jurisdiction-specific requirements and rules.
“Large and mid-size companies are challenged with issues in payments, banking, trading, and compliance, especially as they operate across various jurisdictions,” the CTO said in a statement Monday (Oct. 19). “The differences in one country over another may be nuanced, but the cumulative impact can be great without supporting technology.”
[bctt tweet=”‘Large companies are challenged as they operate across various jurisdictions'”]
The upgrades include new support for payment networks across the globes, allowing businesses to work at the local level regardless of jurisdiction, the company said.
Further, Reval said that its upgrades make the company the first SaaS TRM provider to offer a module for the new IFRS 9 standard.
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Data reporting provides ROI or cost of debt issuances on the platform, reports said, and adds new upgrades to ensure compliance when working in Japan and Brazil.
The upgrades follow a report released earlier this month by Reval that found an upswing in the use of treasury management software, as well as the launch of the Reval INSIDE platform, which provides banks with a streamlined corporate treasury function.
Reval INSIDE is similarly directed toward compliance and risk management, said the company’s regional vice president of solutions consulting across EMEA Guenther Peer in a recent PYMNTS interview. The tool allows firms to “improve their risk through added visibility and control and also improve their decision support through information that is transparent and sits in one place,” he said.
Risk management and sophisticated treasury software have been key to the success of businesses following economic struggles, the executive added.
“The role of the treasurer has become broader and far more strategic over the years since the global financial crisis,” Peer said.
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