Corporate treasuries have more connectivity options for their growing operations, using new version 16.0 of the Reval Cloud Platform for treasury and risk management (TRM). The first of two annual releases, 16.0 introduces new straight-through processing capabilities, leveraging Reval’s recent partnerships with Oracle and SWIFT.
“Corporate treasuries want to automate as much of their cash, payments, 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 true picture of their cash positions and exposures, treasuries will have the information they need to create cost efficiencies, run analytics, and make strategic decisions.”
New version 16.0 provides direct integration with Oracle Cloud general ledger, enabling clients to seamlessly generate Oracle GL entries from the Reval Cloud Platform. Oracle customers can also access the Reval Cloud Platform through the Oracle Cloud Marketplace, where Reval represents the only treasury and risk management application.
The upgrade to 16.0 also introduces Reval’s Bank Connectivity Service (BCS) for both large and mid-size companies operating in various markets around the world. Reval’s BCS will match bank connectivity options to a company’s profile for cost, speed, volume, transaction types and file formats. The service offers comprehensive access to critical banking functions, such as payment processing, payment confirmation, bank statement retrieval and conversion, transactional investigation, bank setup and monitoring, and sanction checking and filtering.
The bank connectivity options new in 16.0 include EBICS, Europe’s standardized transmission protocol, and the SWIFT network’s Alliance Lite 2. These options add to the BCS coverage already available through NTT DATA and the Fides service bureau. Using NTT DATA’s gateway service, Reval clients benefit from a unified bank connectivity experience when managing domestic and foreign funds across multiple banks, locations and currencies, in and out of Japan. Clients can also use Fides for global multi-banking connectivity, including its mid-market offering configured for Reval CORE clients.
Reval also continues to lead the market with its functionally rich accounting and compliance capabilities. Among its many new and enhanced capabilities, 16.0 allows clients to flexibly account for combined issuance costs and premiums/discounts for loan and investment trades that contain accretion-changing lifecycle events, supporting compliance with U.S. and international GAAP. Early adopters of IFRS 9 who are hedge accounting with cross currency swaps may now optionally treat currency basis as a cost of hedging. Reval’s ongoing development of its IFRS 9 module is built in conjunction with and well received among Big 4 accounting firms, especially in the Asia-Pacific region, where early adoption is underway.