27th March 2020

TreasuryXpress Launches COVID-19 Treasury Technology Relief Program

New York, NY – TreasuryXpress, a pioneer in on-demand treasury management software today announced that they have launched a Treasury Technology Relief Program which will offer free subscriptions during this crisis to a new self-service treasury management tool they have developed. The program is designed to support treasury teams that have had their manual and physical operations disrupted during the Coronavirus outbreak.

“As the novel Coronavirus has spread across the globe, so has the need for a new way to work,” says Anis Rahal, CEO and founder of TreasuryXpress. “Virtually overnight, treasury teams have been thrust into a new reality of working remotely whether they were ready for it or not. Further, businesses across industries are feeling the distress of slashed revenues and financial volatility. As such, cash forecasts are changing as quickly as the virus is spreading and access to liquidity is becoming paramount.”

As the current pandemic hastens the adoption of digital technology by businesses, the program intends to provide scalability and rapid set-up to treasury teams requiring automation. The software will be the industry’s first self-service treasury management solution and will support centralized cash and financial instrument visibility, cash forecasting and positioning, and bank account reconciliations.

The firm has been pioneering the transition from traditional, resource-intensive TMS models to digital, open treasury software since the release of their on-demand TMS in 2015. Powered by sustainable, digital technology, the on-demand TMS model is characterized by a frequent and controlled Agile development methodology, short implementation times, digital integrations and open, API-powered bank connectivity.

Rahal concludes, “Empathy and support for our colleagues at this time must take centerstage in our industry. Never has it been more critical for treasury teams to have access to financial data and tools that will help them keep their businesses running. Since our inception, we have continuously worked towards delivering a more open-treasury technology experience to the market. We are proud that our founding vision and approach to innovation allows us to be responsive to our industry’s needs during this time.”

 

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