Science and tech giant improves treasury efficiency and controls in the Cloud
TreasuryXpress, the global leader in frictionless and on-demand treasury management solutions today announced that Ancestry, the global leader in family history and consumer genomics, has implemented the firm’s enterprise treasury management solution, C2Treasury™. C2Treasury was selected by Ancestry to optimize and scale treasury operations.
A privately held company with multiple strategic equity investors, Ancestry currently does business in 30+ international markets. The success and complexity of their business and various product offerings translates into the need for more operational efficiency in the areas of cash management, forecasting, bank account management and reporting. The Ancestry treasury team is in the process of incrementally implementing advanced C2Treasury capabilities such as In-house banking to support its continued global growth.
"Ancestry is a technology company with a laser focus on increasing our speed of innovation to help millions of people across the globe make discoveries about where they come from, who they’re related to, and what makes them unique. We selected TreasuryXpress because we saw that they could grow at our pace without the pain typically associated with technology adoption as we continue to scale our business,” said Sam Peay, Senior Treasury Analyst at Ancestry. “Our initial qualification in selecting a vendor included their ability to help us consolidate information reporting and cash management to a single, clean platform. We were able to accomplish this in just under 8 weeks giving us greater cash and financial visibility. We found TreasuryXpress ahead of the market at large with solutions that balance solid, clean technology with affordability and capability.”
“Treasury technology needs to be accessible and highly cooperative with other platforms – quickly and simply. Long, drawn out implementations are just not acceptable,” said Anis Rahal, CEO and Founder of TreasuryXpress. “Leveraging contemporary enterprise web services and APIs, we have created a business model that gets treasury teams up and running quickly, effectively, and securely. We are honored that Ancestry has trusted TreasuryXpress as we collaborate on scalable treasury innovation and modernization.”
C2Treasury provides companies of any size access to enterprise-level cash visibility, liquidity management, bank connectivity, payments workflow, and self-service custom reporting capabilities. Characterized by immediate logon access and short implementation times of eight weeks, C2Treasury is TreasuryXpress’ flagship on-demand treasury product.