Here’s how IBSFINtech is catalysing treasury management in India with digitisation and automation

Treasury systems have always played an integral role in the financial management of companies. While managing treasury systems can be arduous, the practice of using spreadsheets and legacy management systems for treasury operations is not only convoluted but also error-prone.

These systems hardly capture price movements in currency markets, investments, derivatives and bond trading, which can hamper financial assessments of companies and result in huge losses.

Since its inception in 2006, Bengaluru-based IBSFINtech has worked towards solving this problem through its offerings that provide customers with a highly scalable and configurable decision support system that helps them follow the protocols of risk management policy, regulatory compliances, and other audit requirements.

Consolidation through automation

IBSFINtech has established itself as a premier brand that helps businesses across the country drive their visibility, improve control, mitigate operational risks, and optimise organisational efficiency with the help of artificial intelligence, analytics and management information systems (MIS). It also helps companies automate manual tasks to ensure digitised cash flows and manage liquidity, treasury, risk and trade finance solutions by providing them with a single comprehensive platform.

As factors like COVID-19 pandemic and technological advantages accelerate the adoption of digital solutions, Chief Executive Officers (CXOs) of companies often face cybersecurity challenges that include data integrity, information asymmetry, compliance, transparency and control, among others. IBSFINtech’s solutions help catalyse critical functions of treasury, risk and trade finance with end-to-end digitisation and automation, by making them more efficient and productive. This enhances user experience by making these functions time-efficient by eliminating the need for maintaining spreadsheets and collating data.

These features also help enterprises automate their financial operations, optimise market transactions, and streamline processes. The automated solutions consist of built-in trails, alerts, notifications, approval mechanisms, and escalation matrices that can be customised as per an organisation’s processes. Not to forget, with automation and digitisation, companies can also cut down their use of paper and operate more sustainably.

As of now, IBSFINtech is working with around 40 clients that are spread across India, Singapore, and Europe. They have an impressive client portfolio that includes brands like Maruti Suzuki, Coromandel, Blue Star, Polycab, Olam Enterprises India Limited, MPhasis and many more.

Bringing the ecosystem together

The company’s USP is the comprehensive nature of the solutions it provides that help digitise cash flows, liquidity, treasury, risk, trade finance, and supply chain finance functions. IBSFINtech’s comprehensive platform acts as an integration layer by bridging the gap between enterprise resource planning solutions and core banking and financial services.

The company is enabling its clients to stay ahead by empowering them with solutions that leverage technologies like machine learning, artificial intelligence, and robotic process automation.

Most enterprises leverage IBSFINtech’s solutions to manage and mitigate currency risk by using its automated solutions to integrate their platforms with other leading market data platforms that offer real-time data to capture price movements using file-based formats such as XML or JSON. The company’s solutions also configure asset classes as per the needs of the clients like a list of currencies, investment classes, bonds, and more. The platform also configures alerts, movements and exception reporting that notifies all stakeholders in a timely manner.

IBSFINtech’s product capabilities and its ability to address the pain points of critical functions have played a major role in several corporate companies’ growth. According to the IBSFINtech team, treasury management is all about the successful implementation of automated systems that can expand a company’s reach in the country and help them establish itself as a leader in this niche segment.

Expansion and future plans

Currently positioned as a leading company in the sector, IBSFINtech is planning to expand to the United States, Europe, Middle East, North Africa, and ASEAN countries, while also consolidating its presence in India over the next few years.

After securing funds from a group of high networth individuals recently, IBSFINtech plans to use them to fund its global expansion plans. The company also intends to use these funds for expanding the reach of its SaaS TMS solutions in both domestic as well as global markets. The company recently also partnered with Refinitiv — providers of financial markets data and infrastructure — that enabled it to launch InTReaX^TM, an automated treasury management solution for cash and liquidity management, currency risk management, and market insights.

Digitisation is working towards connecting all stakeholders in a value chain, which in turn empowers the entire supply system with the help of technology. As a leader in the space, IBSFINtech is planning to focus on enabling bank connectivity and end-to-end integration of the financial services ecosystem.

Given how small and medium-sized enterprises are emerging as the key growth drivers for the economy, the company plans to launch a lite version of its SaaS TMS solutions to strengthen the treasury and trade finance management of smaller brands and startups. IBSFINtech also plans to migrate its entire range of products on-premise to SaaS-based systems, which includes treasury, risk, and trade finance management platforms, thus accelerating its goal of transitioning into a SaaS company in the near future.

With international recognition like The Asset Triple A Award, Global Finance Best FX Provider, Adam Smith Asia Award, and Corporate Treasurer Award among others, IBSFINtech has done well to redefine treasury management in India and has ensured efficient risk management, and successful business strategies.