Business information technology firm Wipro is stepping into the world of treasury management with an eye on data analytics.
The India- and U.S.-based firm announced on Thursday (Oct. 13) that it is rolling out its Treasury DNA platform, which stands for Decisions and Analytics, to provide a cloud-based analytics solution for corporate treasurers. The platform is powered by BELLIN technology.
Offered on a subscription-based model, Treasury DNA provides real-time data analytics and insights for treasury professionals. According to Wipro, it’s a solution geared towards treasurers that need to enhance their decision-making and readiness for the future.
“Global treasuries need to be digitally empowered with sophisticated tools and solutions to enable insights-driven financial decisions,” stated Wipro President and Chief Operating Officer Bhanu Murthy B.M. “Our partnership with BELLIN enhances the strength of our offerings and capabilities in helping global treasuries be future-ready.”
In a separate statement, BELLIN Founder and CEO Martin Bellin described Wipro’s tool as “a fantastic offering” that “makes treasury functionalities available worldwide on one single platform.”
He added that, through its collaboration with Wipro, BELLIN acquires a new portfolio of clients and prospects.
A recent report by Strategic Treasurer highlighted the roles Big Data and analytics have played in the progression of treasury management, both to mitigate risk, heighten forecasting capabilities and handle events like the 2008 financial crisis.
Martin Bellin recently spoke with PYMNTS about the developing role of the corporate treasurer, especially in the age of demanding compliance requirements. While banks traditionally take on the burden of compliance, Bellin said treasurers need to similarly maintain knowledge of evolving regulations; data can be a key facilitator behind compliance and reporting requirements.