Unlocks Data and Powers Decision-Making for Cash Forecasting, Short-Term Investing
San Francisco – August 25, 2020 – Trovata, an emerging enterprise fintech automating cash reporting and forecasting with its multi-bank API data aggregation platform, and ICD, corporate treasury’s trusted independent portal provider of money market funds and other short-term investments, announced today that they have launched an integrated workflow for corporate cash forecasting and investing. Bandwidth Inc. (NASDAQ: BAND), a software company focused on communications for the enterprise, is the first corporation to use the integrated solution.
“This new workflow makes our jobs faster, easier and smarter. We’re thrilled with the integration between Trovata and ICD, which allows us to get out from under the time-consuming task of piecing together investment balances and global cash reports. We’re able to put money to work, and do it with confidence,” says Bandwidth Treasurer Scott Taylor. “This automation will become even more advantageous as Bandwidth continues to grow.”
The integration between Trovata’s cash automation platform and ICD Portal establishes a straight-through process for the free flow of data across platforms. Trovata’s API platform is pre-integrated so it aggregates, normalizes and delivers bank balances and transactions in real time to automate cash reporting, cash flow analysis, and forecasting, with no implementation. With richer and faster intel, treasury enters ICD Portal to invest its excess cash with greater confidence and precision. Through ICD Portal, teams access and research over 300 funds, analyze underlying credit and bank exposures, and execute trades across 30 fund families using a single ticket. Investment data then flows back into Trovata to automatically update forecasts.
“Speed and automation are becoming a requirement to proactively manage liquidity and risk in today’s environment,” says Trovata Founder and CEO Brett Turner. “Treasurers and CFOs can’t afford to get caught flat footed these days with how fast things can change, and the pandemic has been a devastating wake-up call for all of us that digital transformation in finance and treasury is paramount.”
“Our common clients are the big winners in this integration effort,” says ICD CEO Tory Hazard. “The beauty of the workflow between ICD Portal and Trovata’s API platform is that clients don’t have to do anything to gain these efficiencies – it’s turnkey.”
Trovata makes it easy for businesses to automate cash reporting and forecasting. By bridging the gap between banks and accounting systems, Trovata is helping companies gain powerful insights into their cash flows that drive better and quicker business decisions with open banking and machine learning. With direct APIs with most major banks, new clients can get setup in just a few hours. Trovata is based in San Diego, CA. To learn more visit trovata.io.
ICD Portal is the leading independent solution for trading, reporting and analytics of institutional money market funds and other short-term investments. Since its inception in 2003, ICD has made an uncompromising commitment to delivering superior products and extraordinary service to its clients.