Treasury Intelligence Solutions Adds Forecasting Services With Cashforce Acquisition

Enterprise payment platform Treasury Intelligence Solutions (TIS) acquired artificial intelligence-powered cash management and forecasting company Cashforce, integrating cloud solutions into TIS’ Software-as-a-Service (SaaS) payments platform, according to a Thursday (June 16) press release.

The new offering will bring together cash management, global payments and fraud mitigation along with streamlined connectivity, workflows and reporting functions, the press release said.

TIS and Cashforce have worked together for several years to provide complementary offerings for treasury and finance teams. The acquisition will bring faster and more accurate cash reporting, forecasting and working capital management.

“Cashforce has been a premier partner of TIS for several years and has contributed significantly to the cash forecasting and management capabilities we offer clients,” said Erik Masing, group CEO of TIS, in the joint press release. “The acquisition is a natural extension of our business and will allow TIS to further integrate Cashforce’s solution with our platform in order to offer advanced forecasting and data management capabilities to all our clients.

Cashforce’s clients can now supplement their forecasting capabilities with TIS’ payments and bank connectivity features.

“Giving businesses complete visibility over their cash and liquidity data has always been the core objective of Cashforce,” said Nicolas Christiaen, founder and CEO of Cashforce, in the joint press release. “While we have spent years perfecting our capabilities in this regard, TIS has been strengthening their suite of payments, bank connectivity, and cash management tools.

“When combined, these two sets of capabilities form the ideal solution for global treasury and finance teams to achieve full control and visibility over their entire payments and liquidity architecture — including all entities, back-office systems, and banks,” he said.

Related: Deutsche Bank, TIS Partner On Corporate Fraud Prevention

Last March, Deutsche Bank and Treasury Intelligence Solutions (TIS) entered a strategic partnership in order to work on multi-bank issues, including fraud, focusing on “new and innovative products and services combining the complementary capabilities and skills of an experienced payment platform provider with the expertise of a global corporate bank.”