Treasury and risk management (TRM) solutions provider Reval has released the first iteration of its cloud platform, version 15.0, marking the group’s “strategic shift from product to platform” and which will provide the platform for new packages configured to meet the specific needs of various market segments.
“Our focus is on the user experience,” said Reval chief technology officer Philip Pettinato. “We are making it easier than ever before for companies of all sizes and complexities to access and use the industry best practices built into the Reval Cloud Platform. This is important now as companies continue to grow, acquire, and go global.”
Also newly-launched are Reval CORETM and Reval CHOICETM, both packages for mid-market treasuries outgrowing manual processes and for treasury organisations faced with complex treasury and risk management challenges. Both are the first packaged offerings built on the TRM functionality comprising the Reval cloud platform.
“Our new packages are designed in the way markets consume treasury technology – be it by organisational maturity, geographical requirements or by specific use cases,” said Pettinato. “We have the functionality that treasuries need, and now with the Reval cloud platform, we can package it in ways that treasuries want.”
“Reval’s strategic shift to the Reval cloud platform validates Aite Group’s ‘30/70 rule’ for treasury software strategy: invest 30% to develop new software features and 70% to facilitate the client experience around software,” added Aite Group analyst Enrico Camerinelli.
Rounding off the new launches is a migration service called ClearPath, which the group said will help take the burden off corporate treasury departments that want to move their operations from legacy technology to the Reval cloud platform. The new service comprises a mix of expert migration specialists, data transformation functionality, and financial support to ease the pain and costs usually associated with technology migration.
“The technology is out there for companies that want to leverage the benefits of the cloud, but many are paralysed by lack of resources that are common barriers to making the switch,” said Patrick Cannon, executive vice president (EVP) of client services at Reval.
“We want to provide companies that feel trapped on old technology for reasons such as lack of expertise, knowledge, staffing or funding, with a powerful alternative. Having already helped so many companies move off the various versions of legacy technology that exist in the market, we have formalised our approach into the ClearPath service.”
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