1. Future Retail Ltd selects IBSFINtech’s Trade Finance Solution

Future Retail Ltd selects IBSFINtech’s Trade Finance Solution

IBSFINtech, the leading provider of niche financial software for Forex, Treasury and Trade Finance management, is pleased to announce that, Future ...

By: | Published: July 16, 2015 6:30 AM

IBSFINtech, the leading provider of niche financial software for Forex, Treasury and Trade Finance management, is pleased to announce that, Future Retail Ltd, India’s leading retailer has selected IBSFINtech’s Innovative Trade Finance solution for effective management of group’s banking activities. The product was finalized after a number of live demonstrations and due diligence of the software solution.

Future Retail Ltd’s parent company Future Group is known for its up-to-date technology adoption and has always implemented best technology solutions available in the market. As a consequence of their desire to have latest technology in place for their Trade Finance operations at Mumbai; IBSFINtech, had a series of discussions followed by demonstration of both Treasury and Trade Finance suite of products.

Dinesh Maheshwari, CFO, at Future Retail Limited, commented, “IBSFINtech offered us a holistic and integrated solution for managing Future Group’s Trade Finance activities. We intend to use their solution to completely automate banking activities to handle imports, Letters of Credit, Buyers Credit, Bills discounting, related Documentation and Reconciliation. I am confident their solution will enhance the efficiency of our Treasury with seamless integration with our existing ERP – SAP.”

T.M. Manjunath, Director – Technical Services at IBSFINtech, commented about key highlights of the solution, “The solution generates detailed information on purchase orders both domestic as well as Imports, manage Letters of Credit, Bill Realization, buyer’s credit, generation of various documents and managing bank details. It also integrates with existing SAP solution seamlessly to transmit purchase information on real-time basis.

C.M.Grover, Executive Director at IBSFINtech, added, “We are pleased to have Future Group company added to our esteemed list of clients. We are excited and look forward to long term relationship with the company.

IBSFINtech was recently in news for successful implementation of their Treasury Solution at Snapdeal, India’s leading online retailer. The company has a record of successful corporate treasury implementations at Times Group (also referred to as Bennett, Coleman & Co. Ltd.), Viraj Profiles and few more. Visit their website (http://ibsfintech.com/) for more details.

Stressing upon importance of treasury software in today’s volatile foreign exchange market, C M Grover, stated, “A reliable and robust treasury software system is need of the hour for every corporate, be it large, medium or small. Existing methods of excel sheets have become obsolete in ensuring real-time critical decision making which is otherwise an automated process in IBSFINtech’s treasury software.”

IBSFINtech product being “Make-In-India” aligns with Prime Minister Narendra Modi’s vision and serves Public Sector Undertakings as well as private sector companies struggling with effective management of treasury operations. Considering this volatile foreign exchange market, a robust software solution will help companies to save money as well as mitigate the risk.

IBSFINtech is also offering treasury solution on cloud which would go a long way in assisting prospective clients in MSME & SME segment, to manage market risks by a great extent with a nominal investment.

About IBSFINtech India Pvt. Ltd –

IBSFINtech India Pvt. Ltd is a Bangalore based organization specializing in providing niche products in the area of Forex & Treasury and Trade Finance for corporate sector. IBSFINtech has a suite of products for treasury operation such as currency, money, commodity, gold bullion trading and derivatives of vanilla and exotic types. The products are seamlessly integrated with each and also with ERP solution of SAP, Oracle financial etc. The company has Trade Finance solution catering exporters/importers dealing in diamonds, gold, cashew nuts, Steel and garments etc., Group has dedicated technical as well as domain experts. IBSFINtech has it corporate office in Bangalore with a branch office at Mumbai with necessary infrastructure. For more details, visit: http://ibsfintech.com/

About Future Retail Ltd –

Future Retail Ltd is the flagship company of Future Group, India’s retail pioneer catering to the entire Indian consumption space. Through multiple retail formats, we connect a diverse and passionate community of Indian buyers, sellers and businesses. The collective impact on business is staggering: Over 300 million customers walk into our stores each year and choose products and services supplied by over 30,000 small, medium and large entrepreneurs and manufacturers from across India. This number is set to grow.

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