Opens Office in Tokyo
Reval, a global technology leader in Software-as-a-Service (SaaS) for Treasury and Risk Management (TRM), announced today that it has expanded its operations into Japan to locally service the growing treasury needs of Japanese corporations. Reval, which has more than 600 clients representing some of the world's largest brands across 25 countries, has recently opened its office in Tokyo.
"The significant M&A activity by Japanese companies over these past few years has left corporate treasury functions with considerable post-merger integration challenges," says Reval Asia Pacific Managing Director Tony Singleton. "As Japanese corporations continue to expand their operations offshore, they need a common technology platform to deliver global visibility of their cash balances, and consequently improve liquidity management and intercompany lending."
Multinational corporations in Japan continued to increase the number of overseas affiliates by 21% from the previous year, and overseas capital investment marked a record high, according to the Ministry of Economy, Trade and Industry's July 2013 Basic Survey on Overseas Business Activities.
"We are very excited to be in Japan, which is an important market that is poised for treasury transformation," says Reval Chief Executive Officer and Co-founder Jiro Okochi. "Our Software-as-a-Service offering is the unifying platform that will benefit many Japanese corporations that have become decentralized overnight through increased global expansion."