IBSFINtech and Oracle to enable digital transformation for customers with Oracle Fusion Cloud ERP & IBSFINtech TMS solution

Mumbai, XX March 2022: IBSFINtech, India’s TreasuryTech leader has announced it is working  with Oracle to accelerate the digital transformation journey of its customers around the world,  with Oracle Fusion Cloud Enterprise Resource Planning (ERP) and IBSFINtech’s treasury  management solution, TMS InTReaX™. IBSFINtech also announced they have migrated TMS  InTReaX™ to Oracle Cloud Infrastructure, to offer its treasury management solutions, , as a cloud  service to businesses globally. 

Transitioning to become a SaaS company, IBSFINtech is migrating their entire on-premise  solution to the cloud. The recent launch of two new products: SaaS TMS InTReaX™ and SaaS  Supply Chain Finance platform, VNDZY® are initial steps in this direction.  

IBSFINtech selected Oracle Cloud Infrastructure (OCI) to host its robust SaaS TMS InTReaX™ because of OCI’s deep and broad platform of public cloud service capabilities. OCI enables IBSFINtech to build and run a wide range of applications in a scalable, secure, highly available and  high-performance environment. The pandemic has led to a surge in digital adoption among  corporate functions. CXOs have realized the value of end-to-end digitization, and are turning to  ERP & TRM solution providers to ensure critical process automation since it enables  transparency, visibility and business continuity.  

Sunil Toshniwal, DGM – Treasury & Family Office, Sonalika Group (International Tractors  Limited) comments, “We have been using IBSFINtech’s Investment Module for a few years and  now we have selected IBSFINtech’s SaaS TMS InTReaX™ for end-to-end automation of our  cashflow and forex operations. In our selection process, we found the solution to be highly robust  and functionally-rich for our requirements. Another important selection criteria was security and  it is also suitably addressed as the solution is hosted on OCI (Oracle Cloud Infrastructure) which  is one of the most secure and globally acknowledged cloud infrastructure platforms. Also, the  solution comes bundled with Refinitiv’s Eikon and DSS feed which provides a holistic platform  for our risk management function.”  

IBSFINtech’s MD & CEO CM Grover, said, “It has been our constant endeavor to offer future ready  solutions to our customers, and we do this with a thorough understanding of their changing  needs. Treasury automation is a critical focus area for CXOs today. Having been mandated by  boards, corporations globally are augmenting their corporate finance functions with robust  treasury automation solutions. Our association with Oracle for Cloud ERP solutions is a step  forward in offering customers cloud native solutions to support their business transformation  journeys. ”  

Vivek Gupta, Senior Director and Country Head, Oracle IaaS and PaaS Services, Oracle India said,  “With the migration of IBSFINtech’s treasury management solution to OCI, IBSFINtech can  modernize their existing apps for a cloud native world. They will now be able to reduce their IT  costs, yet continue to serve a growing customer base. We are delighted to work with IBSFINtech.  Together, we can drive business transformation for customers.” 

IBSFINtech ED & CTO TM Manjunath said, “We thoroughly evaluated global cloud providers and  found OCI to be highly scalable and agile. Oracle Real Application Cluster (RAC) supports the  rapid scaling of infrastructure and high availability, while Oracle Autonomous Transaction  Processing (ATP) delivers rapid set up and self-driving capabilities that help cut down on managed services cost and effort. These benefits from OCI makes it a highly preferred option for  us.” 

About IBSFINtech

Incepted in 2006, IBSFINtech is a Bengaluru based home-grown enterprise TreasuryTech  company. It provides end-to-end digitisation and automation solutions for the cash and liquidity,  treasury, risk and trade finance management (TRTFM), and supply chain finance requirements of  medium and large corporates. Backed by AI, Data Analytics, and MIS technologies, the company’s  integrated risk management solution helps businesses drive visibility, improve control, mitigate  operational risks and optimise organisational efficiency for various Indian and Global  organisations. 

IBSFINtech’s broad customer base is spread across Mumbai, Hyderabad, Delhi, Gurgaon and  Noida in India and international markets such as Singapore and Europe. Some of its marquee  clients are Vedanta Group, Mphasis, Wipro Enterprises, Maruti Suzuki, JSW Steel etc. Global  clients include IMR Metallurgical Resources, JSW International and many more. 

About Oracle

Oracle offers integrated suites of applications plus secure, autonomous infrastructure in the  Oracle Cloud. For more information about Oracle (NYSE: ORCL), please visit us at www.oracle.com.