Wipro Enterprises & IBSFINtech The Trailblazers Defining the way forward for digital transformation journey of Treasury function at Wipro Enterprises
Bengaluru, 4th May, 2021
For the first time in India, Wipro Enterprises, the non-IT Business entity of Wipro, IBSFINtech, the leading technology solution provider in Treasury, Risk & Trade Finance Management space, and one of the Largest Private Sector Bank of the country have collaborated to enable end-to-end automation of Wipro Enterprises’ Treasury function.
Such a collaboration sets the trend for those organizations thinking about digitization and automation with Wipro Enterprises leading the way.
Wipro Enterprisesselected IBSFINtech’s Comprehensive Treasury, Risk & Trade Finance Management® (TRTFM®) solution for holistic digital transformation of the critical Treasury functions at Wipro Enterprises. The announcement comes at a time when every business across industries is emerging from the impact of the pandemic and working towards ensuring business continuity. While most organizations were struggling to cope with the revival strategies, Wipro with IBSFINtech went ahead with the digital transformation plan.
The digitalization wave world over has been accelerated, and Wipro Enterprises has become the trend-setters for other corporates to kick-start their digitization plans.
Kumar Ayashkanta, Head- Global Corporate Treasury, Wipro Enterprises, shares, “We were looking for a suitable Treasury Management Solution to automate our treasury operations. We wanted to move beyond spreadsheet operations, manual management and deploy a dedicated solution. We evaluated the solutions available in the market and IBSFINtech, being a highly configurable and a comprehensive solution for Treasury management, suited our requirements.” He further adds, “We are glad that we conceptualised this unique proposition bringing together India’s most technologically advanced Bank and IBSFINtech to integrate and enable end-to-end connectivity for our treasury function. Being a unique proposition, it was facilitated well by the key stakeholders.”
This one-of-a-kind tripartite arrangement between a corporate, a bank and the technology vendor, is a pioneering move that enables end-to-end seamless automation experience of corporate treasury operations. This association sets the milestone for a long-term commitment to enable seamless connectivity and play a pivotal role in digitization of the financial ecosystem in India.
IBSFINtech’s MD & CEO, CM Grover quotes, “Digital adoption is the way forward. With technology & innovation at the heart of every business, the world will experience a new horizon of digitalization in months to come! We are here to support the digital transformation stories for corporates for their Treasury, Risk & Trade Finance functions. Since our inception, we had been tirelessly focused on establishing the importance of end-to-end digitization & automation of the critical Treasury & Trade Finance functions of a corporate. We are excited to onboard Wipro Enterprises onto our solution and enter into a long-term association with India’s leading private sector Bank to facilitate reach of our comprehensive solutions to their end customers. This is a unique engagement for all the three parties which will open up new avenues for enabling automation in the treasury and trade finance function of the corporates.”
Every corporation today requires a decision support system for the efficient management of Treasury & Trade Finance functions; but the necessary evil is the paper trail that currently exists with Bank communication. This engagement will help achieve seamless bank connectivity, with IBSFINtech’s TRTFM solution becoming the necessary middleware between the corporate’s ERP & Bank’s Core Banking Solution.
About Wipro Enterprises (P) Ltd (WEPL)
Wipro Enterprises has Wipro Consumer Care and Lighting and Wipro Infrastructure Engineering under its umbrella. Wipro Consumer Care & Lighting is a leading FMCG business in Personal Care, Home Care, Lighting & Switches and Office Furniture. Wipro Infrastructure Engineering is a diversified engineering business in the fields of Hydraulics, Water Treatment, Additive Manufacturing, Aerospace and Automation Solutions. In addition, Wipro Enterprises has two joint ventures: Wipro GE Healthcare Private Limited and Wipro Kawasaki Precision Machinery Private Limited.
About IBSFINtech India Pvt Ltd
IBSFINtech is India's fastest-growing Fintech company, leading the digitalization of Cash & Liquidity, Treasury, Risk and Trade Finance Management® (TRTFM® ) for the Corporates. One of the Top 8 TRM globally and one of the Top 10 Trade Finance Software globally, the company is the leading technology vendor in this space in the Indian market.
Prestigious list of clientele is spread across verticals and geographies, including, JSW International Tradecorp Pte Ltd (Singapore), IMR Metallurgical Resources AG (Switzerland), Bluestar Ltd, Polycab Ltd, Olam Agro India Ltd, Maruti Suzuki India Ltd, JSW Steel, Future Group, HCL Corp Group, Mahindra & Mahindra, Sonalika (International Tractors Ltd), Snapdeal and more.
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