Reval Cloud Platform Launches its Version 16.0 Update to provide more connectivity options for Treasury and Risk Management (TRM)
FREMONT, CA: Reval, a global provider of scalable cloud platforms for Treasury and Risk Management (TRM) recently announced its 16.0 version of the Reval Cloud Platform for treasury and risk management (TRM). It is set to the first of its two annual releases and features a brand new straight-through processing competence by leveraging Reval’s ongoing collaborations with Oracle and SWIFT. The release aims to provide corporate treasuries with more connectivity options to compliment their burgeoning operations.
"Corporate treasuries require automation of their payments, cash, risk and reporting functions as they can, but they want to do it all in one secure system in the cloud, creating a globally connected organization that can scale," says Phil Pettinato, Reval's Chief Technology Officer. "This is a prerequisite to visibility; with a more realistic image of their cash positions and exposures, treasuries will have the information they need to create cost efficiencies, run analytics, and make strategic decisions."
In order to enable clientele to seamlessly generate Oracle GL entries via the Reval Cloud Platform, the newer version 16.0 of the product provides first-hand intergration with the Oracle Cloud general ledger. Reval represents the solitary treasury and risk management application at the Oracle Cloud Marketplace, where customers of oracle can get their hands on the Reval Cloud Platform.
Reval's Bank Connectivity Service (BCS) is also unleashed through the 16.0 upgrade, and serves both large as well as mid-sized enterprises across the world. BCS connectivity matches banks to a business’s profile approximating cost, volume, speed, file formats and transaction types. This helps deliver critical banking services like payment processing and confirmation, transaction investigation, bank monitoring, sanction, checking and filtering services as well as bank statement retrieval and conversion services.
EBICS, Europe's standardized transmission protocol, and Alliance Lite 2 from the SWIFT network are the two bank connectivity options included in the 16.0 update. This adds to the already placed BCS coverage with the Fides service bureau and NTT DATA. Reval clients take advantage of NTT DATA’s gateway service from a unified bank connectivity experience whilst administering national or international funs across manifold location, currencies and banks, in and out of Japan. Customers can also take advantage of Fides for their global-banking connectivity that includes its offerings customized for Reval CORE clients.
Reval has managed to cement its place in the marketplace with its loaded accounting and compliance functionalities. The 16.0 upgrade will now let customers account for combined issuance costs as well as premiums and discounts for investment trades that hold accretion-changing lifecycle events, as well as complying with US and International GAAP. Also, early implementers of IFRS 9, who hedge accounted with cross currency swaps can now hold currency basis as a cost of hedging.