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JSW Group, a conglomerate with diversified interest in steel, cement, power and infrastructure project, has outsourced its treasury and risk management solutions to Bengaluru-based IBSFINtech.
The firm specialises in niche, innovative and comprehensive solution for corporate treasury with exclusive modules for currency, commodity and money market.
The partnership will help JSW transition from spreadsheets to automate end-to-end treasury operations. The Group, which has exposure to five major currencies such as the United States (US) Dollar, Euro, Japanese yen, British Pound and Australian Dollar is prone to risks arising from market volatility, economic fluctuations and political events affecting currencies and interest rates.
IBSFINtech's TRM solution will help JSW protect from currency and market volatility, eliminate errors and improve controls and compliances.
CM Grover, Managing Director, IBSFINtech said having proven product capabilities in India, the company is now aggressively working towards expanding the reach of products globally.
IBSFINtech is targeting expansion and local presence in ASEAN, MENA, Europe and North America. With potential new business enquiries and partnership opportunities from these regions, IBSFINtech is confident of acquiring clients in these focus regions in the FY 19-20, which will further fuel the global growth of the company.
The solution provides real-time reports for managing open positions vis-a-vis MTMs, cash flows and collaterals. It also leverages technology to incorporate the risk management process inherent in the solution to minimise risk by optimising the risk-reward trade-off.
While quantifiable risks communicated by the top management are implemented in the form of threshold limits, qualitative risks are handled using intelligent forecasts and other analytical solutions.
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