Aiming to offer an end-to-end, fully-integrated cash software solution, global cash ecosystem integrator Sesami Cash Management Technologies has acquired Planfocus, an artificial intelligence (AI)-based cash optimization software provider.
“Integrated to our enterprise cash ecosystem software platform, Planfocus’ AI-based technology and strong team will further enable Sesami to deliver the only true end-to-end tech-enabled cash ecosystem solution to financial institutions and consumer businesses,” Sesami CEO Steph Gonthier said in a Tuesday (Aug. 9) press release.
Planfocus’ cash optimization software solutions help reduce logistics spending and cash holding costs, improve availabilities and service levels and drive up process optimization, Sesami said in the release.
“As part of Sesami, we will now be able to truly scale our next generation technology and bring our unmatched cash optimization solutions to a broader global client base,” said Planfocus CEO and co-founder Joachim Walser.
With the integration of Planfocus, Sesami also said that it will grow its portfolio of clients and expand its cash optimization offering for its existing clients, which include 78,000 bank branches, ATMs and cash processing centers.
PYMNTS research has found that 54% of chief financial officers (CFOs) cite liquidity and cash management as a top challenge.
Read more: 54% of CFOs Consider Liquidity and Cash Management Their Top Challenge
The “Corporate Cash Management Playbook,” a report done by PYMNTS in collaboration with Red Hat, Infosys Finacle and Intel, found that during uncertain times, the primary task for treasurers and CFOs is to make sure their companies have the liquidity necessary to meet daily obligations and the working capital to respond to changing business challenges and opportunities.
The report also found that more than two-thirds of treasury officials plan to increase their investment in digital technology in such areas as real-time treasury, AI-assisted security and predictive analysis.
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