The partnership was kick-started in January, 2016, and will focus on “Treasury on Cloud” offering from IBSFINtech.
IBSFINtech launched the “Treasury on Cloud”, a product especially designed for MSME segment of the country, in June 2015 during a CII event at Kolkatta. Treasury on Cloud is a self-sufficient solution to address needs of Micro, Small and Medium Enterprises of the country.
This objective of this partnership is to market this cloud based product in the industry, and expand the reach.
C M Grover stated, “This partnership has opened new avenues of opportunities for expansion in MSME segment. Our Treasury On Cloud product is designed to assist MSMEs in effective exposure management and mitigate currency risks, that too with a nominal investment. It is an ideal solution as it requires no capital expenditure, allows for rapid implementation, and supports pay-as-you-go model!”
When asked about the reason behind selecting Finrex for this partnership, he further added, “The company, Finrex is a dynamic and young company, exhibiting a lot of confidence as well as deep understanding of our niche domain. We believe they are perfect fit for marketing our focused product to MSMEs.”
The company was recently in news for successful GO-LIVE of their Innovative Trade Finance 5.0i product at Future Retail (Read More). And in December, 2015, IBSFINtech was awarded and recognized by the industry in “Software Product of the Year 2015” category at Financial Express IT Awards. (Read More )
The company has recently added NEFM (North End Foods Marketing Private Limited), a Sohan Lal Commodity Management Pvt. Ltd. (SLCM) to list of their prestigious clients. SLCM is an ISO-certified agri-logistics company. It has been handling more than 157 agri-commodities including cotton, barley, bajra, castor seeds, wheat, pulses, maize, spices, aloe vera etc., across India. North End Foods Marketing Private Limited (NEFM) is a wholly owned subsidiary of SLCM.