FIS Debuts ‘Quantum Cloud’ Edition of Treasury Platform
Financial technology firm FIS has debuted a new enterprise treasury platform.
The company’s Treasury and Risk Manager – Quantum Cloud Edition is designed to offer finance chiefs and corporate treasurers with greater risk visibility, enhanced data-driven decision-making and faster, more efficient money movement, per a Tuesday (April 29) news release.
“FIS is launching its enhanced solution as CFOs and corporate treasurers increasingly need to accelerate performance across their technology infrastructure,” the company said in the release.
The firm notes that while a majority of companies have invested in the cloud, far fewer are reaching their goals for that technology, underlining the need for “true scalability” for more effective cloud-based ecosystems.
“By running on a public cloud, this solution not only features stronger data processing power and connectivity, but also can provide a new level of flexibility for quicker implementations, faster product upgrades and more seamless rollouts of new capabilities,” the company said.
Aside from tapping the power of the public cloud, this version of the company’s treasury and risk management solution features a new “Liquidity Hub” module that lets businesses tap data from multiple sources — like enterprise resource planning (ERP) systems and bank APIs — to allow for cash-management analysis in real time.
“CFOs and corporate treasury departments continually face a complicated landscape of shifting headwinds and tailwinds, including the fluctuations of capital costs, volatile markets and continuously expanding responsibilities,” JP James, head of Treasury and Risk Management at FIS, said in the release.
“As part of our commitment to advancing how the world pays, banks and invests, we saw a need for more harmonious workflows that unlock how CFOs and treasurers process company data, understand their financial risks and build well-informed strategies.”
The launch comes at a time when many treasurers at tech companies are feeling disconnected from their firms’ decision-making process, as recent PYMNTS Intelligence/Citi research has found.
“This lack of integration with departments such as payments, partnerships, product and engineering results in treasurers being less involved in crucial interdepartmental decisions,” PYMNTS wrote last week.
“Surprisingly, 62% of other department heads in technology believe current levels of collaboration are ideal, despite the fact that technology industry treasurers are 73% more likely to say more interdepartmental collaboration is needed.”
The implications of this “influence gap” are substantial for technology companies. The research spotlights that the technology sector has the lowest percentage of cash flow predictability and revenue optimism of the five industries surveyed. Just 42% of technology treasurers report high cash flow predictability, the lowest of all sectors.
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