The London-based energy company partnered with ION Treasury’s Reval SaaS treasury management solution for its treasury transformation journey
London, 24 November 2020 — ION, the largest global provider of trading, analytics, and risk management solutions for capital markets, commodities, and treasury management, congratulates community member Petrofac for winning the Corporate Recognition Award for Best Treasury Management System (TMS) earlier this year. Presented by Treasury Management International (TMI), the award recognizes Petrofac’s digital treasury transformation powered by ION Treasury’s Reval SaaS TMS.
Petrofac selected Reval as its transformation partner based on its proven experience driving best practices at global enterprises, security, and agility.
Petrofac’s Group Treasury team deployed the solution to automate and transform a culture that historically relied on spreadsheets and PDFs. The organization realized significant benefits and ROI with Reval through the launch of a global cash and liquidity management program. They also automated treasury reporting and rationalized banking structures. The team continues to embrace opportunities through technology, and are exploring enhanced solutions that combine Reval with Robotic Process Automation (RPA).
Matt Norris, Assistant Group Treasurer at Petrofac, said: “At Petrofac we have been progressing our digitalization journey for some time. We built our treasury infrastructure around Reval. We have business support and available technologies that allow us to continue to revamp and optimize workflows. As we continue to partner with ION Treasury, I am excited about working with their community of 50,000+ users, and using that network to share and exchange ideas.”
Rich Grossi, CEO of ION Treasury, said: “Innovation is at the heart of our mission as we continue to advance what treasury professionals can expect from a TMS provider. The first phase of our partnership with Petrofac was to establish a treasury practice with leading fundamentals. Now they continue to look to us to help them identify new opportunities to retain their competitive advantage. We are delighted that our solutions continue to propel the treasury transformation at Petrofac.”
The TMI awards are a top-tier benchmark for the treasury profession, recognizing banks, vendors, consultants, and corporate practitioners defining new frontiers.