Vinmar Selects TreasuryXpress for Centralised Treasury Automation
TreasuryXpress, an on-demand treasury management software vendor, has spoken with TMI about its growing relationship with Vinmar International, a global leader in the plastics and chemicals marketing and distribution industry.
With a global footprint of 50 offices across 35+ geographies and with sales in more than 110 countries, the ability to improve global treasury efficiencies and achieve comprehensive visibility over its cash positions, quickly and accurately, are key priorities for Vinmar. To help accomplish these goals, Vinmar selected TreasuryXpress’ on-demand TMS.
With Vinmar on a swift growth trajectory, it requires a highly complex banking structure, covering the related currencies of its 110 sales territories. “It was handling all of its treasury and cash operations in Excel and needed greater efficiencies to achieve its global cash positions and their liquidity management and decision making,” a TreasuryXpress spokesperson told TMI.
“It banks in very remote and emerging countries across Asia and the Middle East, and the new system will make it easier for the company to connect – it is doing so already with 97% of its banks using TreasuryXpress’ own SWIFT BIC.”
As part of the implementation of its on-demand TMS model, TreasuryXpress is also building a custom trade finance module, and is making additional FX exposure customisations to support Vinmar’s unique business requirements.
Speaking at the time of the announcement, Anis Rahal, CEO and Founder of TreasuryXpress added: “As one of the largest companies in their market, we are pleased that Vinmar International has selected TreasuryXpress to help them implement greater control, efficiency and economies across their treasury operations.”
With over 175 clients across 55 countries worldwide, such as DNB Bank, Holiday Inn Club Vacations, Avalon Healthcare, and ISS Shipping to name a few, TreasuryXpress provides companies of any size access to enterprise- level cash visibility, liquidity management, bank connectivity, payments workflow, debt and investment management, and comprehensive reporting and dashboarding capabilities.
Powered by sustainable, digital technology, TreasuryXpress is the leading innovator in on-demand treasury management software. The on-demand treasury management (TMS) solution model is characterized by a frequent and controlled Agile development methodology, immediate logon access for clients, short implementation times, and digital integrations and bank connectivity.