PEFCO gains operational efficiencies with Reval and Oracle Financials Cloud
Published: December 20, 2016
New York – Private Export Funding Corporation (PEFCO) is now able to automatically post general ledger entries from Reval directly to Oracle Financials Cloud, leveraging Reval’s cloud-to-cloud integration with Oracle earlier this year. Reval is a software-as-a-service solution for Treasury and Risk Management (TRM).
“The integration between Reval and Oracle has greatly improved our operational efficiency in terms of time and control. What used to take two or three days at month end for hedge accounting, now takes only about a half hour in Reval, and then the GL entries are posted automatically to Oracle with a push of a button,” explains PEFCO Senior Vice President and Treasurer Raj Nandkumar. PEFCO’s treasury of three manages a balance sheet of approximately 9.5 billion USD and the interest rates hedges for their loan portfolio and long-term debt.
“The success of PEFCO and other organizations will continuously improve the integration between Reval and Oracle Financials Cloud. This is the beauty of cloud technology – its ongoing development is driven by the users sharing the same application,” says Reval Senior Vice President of Strategic Initiatives James Gilbert.
Reval is a Gold level certified member of the Oracle PartnerNetwork (OPN) and the first treasury and risk management application represented in the Oracle Cloud Marketplace. The integration with the Oracle Cloud general ledger was introduced in Reval’s spring product release.