Switzerland's largest retail company, Migros, has successfully upgraded to ION's new Wallstreet Suite solution
LONDON, Oct. 26, 2023 /PRNewswire-PRWeb/ -- ION Treasury, a global provider of treasury and risk management solutions for corporations, financial institutions, and central banks, announces that Migros has successfully upgraded to ION's new Wallstreet Suite solution deployed in the ION Cloud.
Migros, Switzerland's largest retail company, supermarket chain, and private employer, has an unwavering commitment to core technical advancements to support its position as the leading in-region supermarket.
Wallstreet Suite is an enterprise-level treasury management system. The new solution is designed to handle complex treasury needs, while providing global visibility to cash, liquidity, and exposures. Wallstreet Suite's modular, service-oriented architecture enables finance teams to achieve more through automation and exception management, making it possible to scale operations and bring greater visibility to the finance organization.
Migros sought to improve automation and data visibility within their treasury processes. The business will benefit from Wallstreet Suite's new user experience that equips users to monitor trades, bank statements, settlements, and statuses in real time with visual alerts. Migros also looked to advance their technology and reduce their total cost of ownership by migrating their operations to the ION Cloud. Running Wallstreet Suite in the Cloud will simplify Migros' operations, reduce their costs, and increase their agility while improving the overall security and integration of the solution.
"We upgraded to the new Wallstreet Suite to automate our business processes, improve data management, support our advanced reporting, and increase visibility to free up our treasurers' time. We will use Wallstreet Suite to centralize workflows, automate key processes like bank reporting and settlement, and provide easy component upgrades. This is an exciting step in our partnership with ION, further applying our mutual commitment to using advanced, automated technologies," said Beda Ledergerber, Head of Treasury at Migros.
"We are very excited to bring Migros to the new Wallstreet Suite solution and at the same time migrate them to our ION Cloud," said Richard Grossi, CEO of ION Corporates. "Migros' adoption is a new milestone in our long-standing relationship spanning over 25 years, and a testament to the benefits of the long-term client partnerships ION seeks. With the new solution, Migros realizes immediate benefits around centralization, visibility, control, and efficiency, while getting ready for further deployment activity by onboarding new businesses to a common treasury model."
"By migrating to the ION Cloud, Migros has chosen the ideal environment to benefit from high system performance for Wallstreet Suite enabling scalability and business agility, yet reducing total cost of ownership," said Loic Leonard, Head of Product (Wallstreet Suite) at ION Treasury. "We are delighted to see Migros leverage the innovations we have brought to the new Wallstreet Suite in bank account management, real-time bank reporting and cash positioning, trade confirmation matching, treasury analytics, and reporting and to leverage each within the ION Cloud."
About ION
ION provides mission-critical trading and workflow automation software, high-value analytics and insights, and strategic consulting to financial institutions, central banks, governments, and corporates. Our solutions and services simplify complex processes, boost efficiency, and enable better decision-making. We build long-term partnerships with our clients, helping transform their businesses for sustained success through continuous innovation. For more information, visit https://iongroup.com/.
About ION Treasury
ION Treasury delivers unique treasury and risk management solutions to organizations of all sizes, offering both on-premises and cloud options. Our award-winning solutions help manage liquidity and mitigate operational, financial, and reputational risk. Together with a global community of over 1,100 clients, we are shaping the future of treasury and risk management technology. For more information, visit https://iongroup.com/treasury/.
About Wallstreet Suite
Wallstreet Suite is an enterprise-level treasury management system and payment hub solution. The new solution is designed to handle complex treasury needs, including high volumes of payments and sophisticated risk management, while providing global visibility to cash, liquidity, and exposures. Wallstreet Suite's modular, service-oriented architecture enables finance teams to achieve more through automation and exception management, making it possible to scale operations and bring greater visibility to the finance organization. For more information, visit https://iongroup.com/products/treasury/wallstreet-suite/.
About Migros
Headquartered in Zurich, Switzerland, Migros is Switzerland's largest retail company, supermarket chain, and private employer.
Media Contact
ION PRESS AND MEDIA, ION, +44 20 7173 1520, [email protected], https://iongroup.com/
HAWTHORN ADVISORS, HAWTHORN ADVISORS, +44 20 3745 4960, [email protected], https://www.hawthornadvisors.com/
SOURCE ION
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