IBSFINtech and Oracle to enable digital transformation of customers

IBSFINtech has announced that it is working with Oracle to accelerate the digital transformation journey of its customers around the world, with Oracle Fusion Cloud Enterprise Resource Planning (ERP) and IBSFINtech’s treasury management solution, TMS InTReaX. IBSFINtech also announced they have migrated TMS InTReaX to Oracle Cloud Infrastructure, to offer its treasury management solutions, as a cloud service to businesses globally.

Transitioning to become a SaaS company, IBSFINtech is migrating their entire on-premise solution to the cloud. The recent launch of two new products - SaaS TMS InTReaX and SaaS Supply Chain Finance platform, VNDZY are initial steps in this direction.

IBSFINtech selected Oracle Cloud Infrastructure (OCI) to host its robust SaaS TMS InTReaX because of OCI’s deep and broad platform of public cloud service capabilities. OCI enables IBSFINtech to build and run a wide range of applications in a scalable, secure, highly available and high-performance environment. The pandemic has led to a surge in digital adoption among corporate functions. CXOs have realized the value of end-to-end digitization, and are turning to ERP & TRM solution providers to ensure critical process automation since it enables transparency, visibility and business continuity.

CM Grover, MD & CEO – IBSFINtech said, “It has been our constant endeavor to offer future ready solutions to our customers, and we do this with a thorough understanding of their changing needs. Treasury automation is a critical focus area for CXOs today. Having been mandated by boards, corporations globally are augmenting their corporate finance functions with robust treasury automation solutions. Our association with Oracle for Cloud ERP solutions is a step forward in offering customers cloud native solutions to support their business transformation journeys. ”

Vivek Gupta, Senior Director and Country Head, Oracle IaaS and PaaS Services, Oracle India said, “With the migration of IBSFINtech’s treasury management solution to OCI, IBSFINtech can modernize their existing apps for a cloud native world. They will now be able to reduce their IT costs, yet continue to serve a growing customer base. We are delighted to work with IBSFINtech. Together, we can drive business transformation for customers.”