TreasuryXpress has announced that it has been selected by full-service real estate investment firm Coastal Ridge Real Estate to help achieve greater visibility and control over its cash and payment management processes.
For Coastal Ridge, the ability to achieve a single point of visibility over cash positions and transactions is key. With an aggressive acquisition pipeline that has already seen two deals take place in 2020, the firm wants to automate its accounting and treasury operations in order to scale with its financial expansion and new asset acquisitions.
“With our rapid growth and expansion, we need technology that can keep pace,” said Paul Colgan, vice president of Accounting and Finance at Coastal Ridge. “Implementing the TreasuryXpress technology will allow us to view, access, and manage our cash positions in a single repository.”
Coastal Ridge also plans on using the software to manage end-to-end payments; thereby eliminating their current manual workflow. Additionally, the company has a complex technology infrastructure consisting of multiple ERP and property management solutions in order to support its over US$2bn assets under management. With the vision of achieving straight-through financial data cooperation and communication, the firm needed a solution that is flexible enough to intelligently integrate the disparate solutions with the least amount of effort.
“Our on-demand treasury solution is built to be highly cooperative with external platforms,” said says Anis Rahal, CEO and founder of TreasuryXpress. “Our mission is to design the most sophisticated functionality and deliver it in the simplest and cost-effective way to our clients. We are always excited to work with smart and creative companies such as Coastal Ridge.”
TreasuryXpress provides companies of any size access to enterprise-level cash visibility, liquidity management, bank connectivity, payments workflow, debt and investment management, and data visualisation and reporting capabilities.
“We selected TreasuryXpress to not only improve the efficiency and productivity of our team, but also because of the cost control benefits and TreasuryXpress’ commitment to innovating their product based on real client requirements,” concluded Colgan.
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