Reval announces full integration of its ecofinance acquisition with in launch of its latest software update.
Financial risk management company Reval can now add TMS provider to its corporate description. The company Wednesday announced it has fully integrated its acquisition of Austria-based treasury management system (TMS) provider ecofinance, adding treasury solutions to the latest Reval update.
“We are very excited with the launch of our single solution, which we believe can at long last deliver everything that a treasurer should expect from an enterprise treasury solution and much more,” said Reval CEO and Co-founder Jiro Okochi in a statement. Mr. Okochi added that the new update will likely be the most “robust” software-as-a-service (SaaS) offering in the market for treasurers.
Reval acquired ecofinance in January of this year in a bid to expand its services and get ahead of a market that is rapidly moving toward more integrated treasury IT solutions (see related story here). The latest Reval update, Version 11.1, utilizes ecofinance to broaden Reval’s financial risk-management SaaS solution, and integrates cash and liquidity management functionality. “The combined offering meets the treasury requirements of all regions and addresses the global market need for a single, integrated solution that delivers deep and broad visibility for treasury and risk management across the enterprise,” according to a press release.
To that end, the current 500 or so Reval clients will have access to a full enterprise treasury solution, “not just the core requirements that treasury departments would expect … but also some strong differentiators,” Mr. Okochi said. The new version will include 12 new modules for key areas of treasury, such as an ecofinance liquidity forecasting module that Mr. Okochi said “goes beyond what most TMSs currently offer … there are good ways to compare actual vs. forecast and get into in-depth analysis.” The update will have a “robust payment factory,” and what Mr. Okochi said was an “easier ability to get to your global cash position,” something he felt many companies have been struggling with since the start of the financial crisis.
Mr. Okochi added that Version 11.1 will be a truly “enterprise” solution that will cover derivative, debt, and investment instruments, and offer a single subledger for all treasury accounting entries. “The accounting department can use it for debits, credits, and hedge accounting and the front office can use it for that full execution on straight through processing (STP) on the FX execution.”
“Clients will get all the benefits from ecofinance and then on the Reval side, they’ll get valuation and risk and hedge accounting,” Mr. Okochi said. Mr. Okochi added that Reval will continue to invest heavily in research and development both to meet the challenges of regulatory change and any changes to hedge accounting in the US or overseas.