Transoft International announced today that it is teaming up with the ALVARA Cash Management Group in Germany by integrating Transoft's flagship product line, OptiSuite(TM), into the ALVARA Interactive Cash Control(ICC)(TM) system in compliance with all new directives of the European Central Bank and the German Federal Bank.
"Transoft's currency management products are successfully implemented by major financial institutions across the globe today, and through our partnership with ALVARA we are now able to not only provide substantial savings to our European customers but also ensure a total cash management cycle in line with all new governmental regulations. The benefits from CashEDI and our cost optimization rely on compliance and ALVARA furthers our abilities to anticipate and monitor events, thus identifying significant post-balancing cost reductions," stated Bo H. Holmgreen, President & CEO of Transoft.
Through the integration of the OptiSuite into ALVARA's ICC product both companies will be able to further cut operating costs for its customers solidifying an even stronger value proposition by providing optimal cash orders through advanced algorithms that take into account interest rates, events, calendars, CIT-Cost, insurance costs to name just a few. "The capability through OptiSuite for our customers to now have visibility not only into their cash movements through CashEDI, but also use cost simulation tools to create an advanced predictive decision process is just the beginning of the synergies our two companies are creating," add Bernd Hohlfeld, Chairman of ALVARA," Transoft will reside in ALVARA offices in Leipzig and we also look forward to expanding into new global markets through joint sales efforts."