ION Treasury launches TreasuraSpark to help firms move on from spreadsheets

Grossi: treasury teams can avoid manual processes

ION Treasury has launched TreasuraSpark, a SaaS cash management platform designed to bridge the gap between spreadsheets and the ION's fully-fledged TMS, Treasura.

TreasuraSpark brings automated cash management within reach of companies which might struggle to justify the time and expense of a full Treasura implementation. The new platform takes less than 24 hours to set up, compared to anything up to three months for its bigger sibling. It is also limited to up to three connected banks and up to four users, where Treasura can handle up to 10 banks and up to 20 users.

IOn expects clients to be able to sign up by themselves online,  establishing connections to their banks for automated flow of cash balances and transactions. TreasuraSpark then collects, consolidates, and stores banking data with a full audit trail.

'As many in the industry continue to operate with legacy systems and look to improve automation, ION seeks to ensure that organisations can avoid manual processes and have the visibility to cash they need to manage working capital,' said ION Corporates CEO Richard Grossi.

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