New York – ION Treasury, a global provider of treasury and risk management solutions for corporations, financial institutions, and central banks, today announces the launch of TreasuraSpark, a simple to use cash management SaaS solution, to help high-growth organisations migrate from outdated spreadsheets to automated cash management.
ION’s TreasuraSpark provides a real-time view of an organisation’s available and expected cash balances. By automating the collection and reconciliation of cash movements, companies gain confidence that they have a sufficient level of cash to cover daily needs. This visibility leads to cost reductions including the opportunity cost associated with excess cash, cost related to overdraft facilities, and time saved by removing manual processes and fixing errors. TreasuraSpark delivers automation and controls to companies who require more frequent updates to cash activity and balances but find the experience of creating their cash view cumbersome.
With its easy, self-guided setup, organisations can simply sign up online, and establish connections to their banks for automated flow of cash balances and transactions in one location. With secured bank connectivity, TreasuraSpark collects, consolidates, and stores banking data with a full audit trail.
“We’re delighted to announce the launch of TreasuraSpark. As many in the industry continue to operate with legacy systems and look to improve automation, ION seeks to ensure that organisations can avoid manual processes and have the visibility to cash they need to manage working capital,” said ION Corporates CEO Richard Grossi.
For companies seeking cost-effective alternatives to spreadsheets, TreasuraSpark delivers quickly without IT resource expenditure or implementation costs. The solution automates daily cash processes that every finance team must manage and is ideally suited for managing cash-related activities, with cost-effective routes to streamline and simplify basic cash processes.