The global financial landscape has long been fraught with complexities, especially in the realm of treasury operations, where companies grapple with managing cash flows, risks, and compliance across borders.
The financial turmoil following the 2008 Lehman Brothers collapse exposed significant vulnerabilities in global treasury operations, highlighting the need for more robust and efficient management systems.
Companies worldwide, particularly in India, faced heightened operational risks and inefficiencies in their treasury functions, underscoring a critical gap in the market for digital solutions.
This period of financial instability, characterised by the subprime mortgage crisis and subsequent banking and corporate sector collapses, along with volatility in commodity and forex markets, revealed a pressing demand for automation in corporate treasury operations.
Traditional methods reliant on manual processes and spreadsheets proved inadequate against the complexities of modern financial markets, leading to a call for innovative solutions that could offer better control, visibility, and risk management. In response to these challenges, the corporate sector's reliance on outdated and manual treasury and trade finance management practices became increasingly untenable.
Over 70% of global corporations still depend on spreadsheets for these critical functions, a practice fraught with inefficiencies and prone to errors. The lack of digitised, integrated solutions meant that companies struggled with data silos, communication gaps between treasury and other departments, and a dearth of real-time information.
These operational inefficiencies not only hampered decision-making but also posed significant risks in terms of compliance and financial management.
The market's urgent need for digital transformation in treasury operations called for a platform that could seamlessly integrate with existing ERP systems and financial services, providing a comprehensive solution to the myriad challenges faced by treasurers and CFOs in managing their organisations' financial resources effectively
This is where IBSFintech steps in. IBSFINtech is an enterprise treasury tech firm that caters to the digitisation of cash flow, treasury, risk, and supply chain finance functions.
Who is the founder?
IBSFintech was founded in 2010 by Chandra Mohan Grover and other former bankers. He holds a postgraduate diploma in PM & IR from IBM Meerut and completed an M.A. in History from Meerut University.
He began his professional journey with Vijaya Bank as a Chief Manager and ultimately became the CEO of a real estate company from August 2007 to October 2010.
IBSFintech's journey began in the wake of the 2008 financial crisis, a tumultuous period that highlighted the vulnerabilities in global financial systems and the urgent need for robust treasury management solutions.
TM Manjunath, S Sethuraman, and their colleagues leveraging their extensive experience from Vijaya Bank, seized this opportunity to innovate in the treasury space. They aimed to create digital solutions that would mitigate operational risks and enhance business efficiency, marking the inception of IBSFintech in 2006.
What is treasury tech?
Treasury tech, or treasury technology, refers to the digital tools, platforms, and software solutions designed to automate and optimise the operations of a corporate treasury department. These technologies aim to manage a company's liquidity, ensure financial stability, and support strategic financial planning and decision-making.
It includes a wide range of functionalities, including Cash and Liquidity Management, Risk Management, Payment Processing and Automation, Financial Planning and Analysis (FP&A), Bank Relationship Management, and others.
What does IBSFintech do?
IBSFintech is a Bengaluru-based enterprise treasury-tech company specialising in the digitisation of cash flow, treasury, risk, trade finance, and supply chain finance functions. It provides a comprehensive platform that caters to the end-to-end needs of treasury operations, helping businesses manage their financial operations more efficiently and securely.
The firm offers a suite of digital solutions that bridge the gap between enterprise resource planning (ERP) systems, core banking, and financial services. This integration allows CFOs and treasurers to gain improved control and visibility over their operations, mitigate operational risks, and ensure compliance with regulatory standards.
Its platform also includes decision support systems to assist customers in managing risks and making informed decisions.
IBSFintech's core technology platform functions as a comprehensive digital solution for treasury and financial management. It integrates seamlessly with existing ERP solutions and financial services, providing real-time insights and analytics to facilitate better decision-making.
The platform leverages advanced technologies such as Machine Learning (ML), Robotic Process Automation (RPA), and analytics to drive automation and efficiency in treasury operations.
Notably, IBSFitnech serves a diverse range of clients globally, including major corporations like Vedanta Group, GAIL, Wipro Enterprises, Mahindra & Mahindra, and HCL. Its solutions cater to the needs of over 380 entities worldwide, spanning various industries and sectors, demonstrating the platform's versatility and effectiveness in addressing complex treasury and financial management challenges.
Funding & Investors
In October 2021, IBSFIntech raised $1 million in a pre-Series A funding round from a group of high-networth individuals (HNIs). The funding round was aimed at launching its SaaS treasury management solution in the domestic market as well as looking at expanding its global footprint.
“This funding provides the necessary impetus to expand our playing field with our newly launched SaaS TMS. It will accelerate our global growth plans and bolster technology to deliver the most comprehensive, decision-making platform for business leaders across industries," CM Grover earlier said.