IBSFINtech, a home-grown enterprise treasury-tech company, has partnered with Oracle to ensure that the latter’s ERP clients around the world will have access to IBSFINtech’s treasury management solution (TMS) for their treasury functions.
“Our TMS can now be integrated to Oracle’s ERP clients across the globe. With this tie up our reach has now become global. Even prospective clients of Oracle can use us as part of cloud based ERP offering”, Chandra Mohan Grover, Managing Director & CEO, IBSFINtech, told BusinessLine.
Grover said IBSFINtech association with Oracle for Cloud ERP solutions is a step forward in offering customers cloud native solutions to support their business transformation journeys.
“With the joint marketing efforts of both of our teams, we are looking to have and serve close to 1,000 clients for first year, which is a good number to have”, Grover said.
He highlighted that the treasury tech company will not be looking for this kind of tie up with other ERP providers atleast for next one year.
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 Oracle Cloud Infrastructure, IBSFINtech can modernise 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.”
Grover also said that IBSFINtech wants to in the next four years become a Software-as-a-service (SaaS) company and expects revenues from SaaS products to account for 70-80 per cent of overall revenues.
The Bengaluru-headquartered company, which provides end-to-end digitisation and automation solutions around cash and liquidity, treasury, risk, and trade finance management (TRTFM), is well on course to go in for a Series A fundraise of $10-15 million in next few months, Grover added.
Published on
April 07, 2022
