Greater Boston public agency connects treasury, banking and payments in the cloud
Greater Boston’s public transportation agency, the Massachusetts Bay Transportation Authority (“MBTA”), is automating its treasury management function using Reval, the leading Software as a Service (SaaS) solution for treasury and risk management. The agency will leverage Reval’s cloud-based system to centralize the management of cash and liquidity, payments, and investments and debt.
“We want to move away from spreadsheets to a single system that aggregates all of our information in one place,” says Paul Brandley, Treasurer at the MBTA. “With Reval, we found the platform we needed, but also the right partner to help us smoothly transition from manual processes to automated, straight-through processing of our treasury functions.” MBTA will be creating a centralized, straight-through process to better manage and forecast cash on hand, track investments and debt, and initiate payments, automatically.
“MBTA is setting the standard for other municipal agencies who want to get out from under the mundane, manual tasks that steal precious time away from treasury teams,” says Jason Torgler, Senior Vice President, Reval, in North America. “We’re happy to count MBTA as the newest member of Reval’s community of users.”
The MBTA is the oldest and fifth largest transit system in the country, operating subway, trackless trolley, trolley, bus, water ferry, and commuter rail service throughout eastern Massachusetts. The Authority and its 6,500 employees are responsible for an estimated 1.3 million passenger trips every business day and operate over 46 miles of rapid transit rail routes.