Reval, a global provider of cloud-based Treasury and Risk Management (TRM) solutions, announced that Hitachi (News - Alert) Capital (UK) has successfully implemented Reval's comprehensive TRM solution to automate its treasury processes.
A 100 percent subsidiary of Hitachi Capital Corp of Japan, Hitachi Capital Hitachi Capital offers a variety of business finance solutions from retailer finance to vehicle finance and commercial business finance to factoring and invoice finance. Hitachi Capital in the UK additionally provides consumer loans through its Internet- based Savvi brand and specialist driver instructor vehicle contract hire through Hitachi Capital Driving Instructor Center.
By deploying Reval's all-in-one SaaS (News - Alert) TRM solution, Hitachi Capital reportedly gained significant improvement in the efficiency of processes and financial control over its treasury and risk positions.
According to Reval, its cloud-based software has been designed to help enterprises better manage cash, liquidity and financial risk, and includes specialized capabilities to account for and report on complex financial instruments and hedging activities. The solution comes complete with the data and analytics that allow chief financial officers, treasurers and finance managers operate more confidently in an increasingly complex and volatile global business environment. In a nutshell, Reval helps companies optimize treasury and risk management activities across the enterprise for greater operational efficiency, security, control and compliance.
“We are particularly pleased with our new hedge accounting set up. Processes that previously took a minimum of two days and with uncertain results can now be completed in less than an hour at period end and with near zero P&L volatility in the future,” Group Treasurer of Hitachi Capital, Jeremy Johnson, noted in a statement.
“We are pleased to add a premier client like Hitachi Capital to our ever growing treasury community. We approach our solution development process with a consultative approach and worked closely with Hitachi Capital to understand their business challenges and goals. Specifically, we enabled them to consolidate a number of different systems and processes into one. A key consideration for success was a smooth and well supported deployment. I am very pleased that once again Reval delivered on time, on budget and more importantly, according to our client's needs,” regional VP of Sales of Reval, Peter Reynolds noted in a statement.
Reval recently won various treasury industry awards for best financial management solution. This year, it won the Global Finance Magazine's Treasury & Cash Management Award, Financial I's Leaders in Innovation Award, and a repeat acknowledgment from Treasury Today magazine's Adam Smith Awards.
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Edited by Brooke Neuman