New York, NY – TreasuryXpress, the global provider of frictionless and on-demand treasury management solutions recently announced that Ittihad International Investment, a leading private holding and multi-disciplinary conglomerate achieved 100% bank connectivity and cash visibility over a two week implementation period reducing average industry implementation project times by approximately 94%.
“A major criteria for selecting a TMS solution was our need for a customizable, scalable solution that could be deployed rapidly and without us being obliged to hire an outside consultant to run the project for us,” said Eyad Abdel Rahman, Group Treasurer at Ittihad. “After meeting the TreasuryXpress team and learning about the solution, we knew they were best positioned in the market to really harness the benefits of the Cloud and deliver our project with minimal human intervention thereby reducing our time-to-market and overall cost of automation.”
Ittihad’s business strategy is aimed at establishing and operating economically diversified portfolios either independently or in collaboration with leading companies. As a result, the management of multiple, specialized financial instruments and investments was adding a high degree of complexity to the firm’s treasury operations.
“We have very specific loan and investment requirements that needed to be addressed,” continues Abdel Rahman. “TreasuryXpress listened to our needs, reviewed our unique specs and built the custom capabilities we required in under two weeks. Even more satisfying, TreasuryXpress was able to connect us to our 9 global banks giving us visibility to 70% of our cash in this same two-week timeframe. We are genuinely impressed with the team’s approach and leverage of technology to accelerate our project.”
“We hear from prospective clients almost daily that they are frustrated by the emerging business model of legacy TMS providers outsourcing 100% of their implementations to third parties,” said Anis Rahal, CEO and founder of TreasuryXpress. “This practice just exasperates the implementation project from a time and cost perspective. It is our strong belief that the answer to improving the implementation experience for treasury is to eliminate as much human-reliance as possible. At TreasuryXpress, we rely on technology to make the difference – to reduce project timelines and costs dramatically.”
TreasuryXpress’ on-demand Treasury Management Solution (TMS) model leverages modern Cloud technology and development practices to create repeatable best-practice implementation workflows. These workflows fully automate the bank connectivity process; thereby reducing time and effort spent on these tasks during traditional projects. Additionally, the TreasuryXpress approach to innovation offers a perpetual development and upgrade model that allows treasury professionals to implement, consume, and scale technology economically and rapidly.
“We strongly believe that it is technology and the intelligent use of modern innovations will transform the entire TMS experience for the treasury industry,” continues Rahal. “Long implementations are no longer viable or necessary. Our vision and strategy is to reduce as much human intervention during the implementation process as possible and rely more on automation. At TreasuryXpress, we have acquired the expertise and technology strategy to make this a reality.”