Takeovers in any business are scary and worrying events. In the TMS business, ION’s acquisition of Reval is no different. Much of this has been because of a lack of understanding of what is exactly going to happen.
The takeover plan
The plan is that:
- ION brand will incorporate Reval - into the ION corporate treasury division brand marketing
- Jiro Okochi will have P&L responsibility for Reval, IT2, Treasura and City Financials.
- Reval management team will be retained to ensure continued growth in Reval’s products and services
- Reval’s sales, marketing and customer success people and programs will be leveraged across the other treasury products.
Current users’s questions answered
In our article on 9th Oct CTMfile listed four key questions that must be of concern to current Reval users. We have listed these below and Reval’s response:
A. what will happen to the current development plans for the Reval system?
- Reval: “ION bought Reval for its strong SaaS platform and will continue to stay at the forefront of product innovation, introducing new and enhanced capabilities that enable clients to be responsive to the markets in which they do business. Version 16.1 of the platform was just released in late October and includes new features and functions that continue to improve the user experience and corporates’ ability to operate within the demands of various markets around the world.”
B. Customer service support and how it will change?
- Reval: “Our clients will continue to receive the same, high level of support that they have come to expect. ION will continue to invest in the customer success function to ensure current and future users get the most out of their investments in ION’s treasury solutions.”
C. What is the long-term commitment to the Reval product?
- Reval: “ION provides the stability of long-term ownership, which allows focus on continuous product innovation. As part of a larger global company, the Reval platform will be introduced to more companies and more use cases to further enrich the functionality for the product’s entire community of users.”
D. In the longer term will we have to move to other systems?
- Reval: “No. Again, ION bought Reval as the SaaS centerpiece of its portfolio. The beauty of ION’s portfolio of offerings is that companies can choose the product that best suits their needs, based on functionality, delivery preferences and regional requirements.”
With acquisition of Reval ION will present a broad range of TMS solutions that will suit most corporates. The global roll-out plan is as, Jiro Okochi, CEO Reval explains, to “Get deep into learning about the products, domain expertise and investments of the combined corporate treasury division. We only closed the deal just a few days ago, but we are already excited about the opportunity we see ahead. Still, with the advantage of the financial strength of our new home, time is on our side to work diligently and purposefully toward our shared goals.”
CTMfile take: Offering a wide range of TMS solutions under the single ION branding makes sense, rather like Ford does in the automobile business. However, the success or failure of this takeover will depend on the quality and consistency of the technology, implementation, customer and consultancy support for each of the solutions not just the branding. The Reval marketing and support machine can only help this global initiative.
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