Eka Software Solutions, a provider of cloud-based enterprise solutions is assembling a team of industry experts to develop a new solution for transforming corporate treasury operations.

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The company said this new corporate treasury initiative will be spearheaded by Devanshu Bhatt, the former India head of ION's corporate treasury group, who recently joined Eka.

In a bid to accelerate the treasury solution’s time-to-market, EKA has also acqui-hired banking and finance start-up Trxiea Platforms and Solutions. In a statement, the company said these strategic hires are part of Eka’s ongoing effort to expand its state-of-the-art cloud platform into a comprehensive multi-solution platform for global enterprises.

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EKA’s new team will develop a purpose-built, cloud-native corporate treasury solution that provides chief financial officers (CFOs) with a complete, real-time view across their entire enterprise.

"The corporate treasury function sits at the epicentre of organizations, adding incremental value through efficient working capital management. However, despite its importance, we have seen that far too many treasury departments are operating on legacy, monolithic systems that aren’t keeping pace with today’s business environment," said Manav Garg, Eka founder, and CEO.

Eka’s Cloud Platform already offers solutions for e-sourcing, financial management, supply chain, sustainability, trading, and risk management. The startup said the addition of the treasury capability will round out the offering further.

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"We have a clear vision of building a robust treasury solution that joins the dots across the organization, so that CFOs can operate from one single, trusted source of truth, rather than trying to piece together information from disparate systems and departments. To do this, we have built a team of incredible subject matter experts, and we are extremely excited to translate our vision into a transformative product over the coming months," Garg added.

EKA currently has 500 employees and supports more than 100 customers globally. The firm said they are providing industry expertise in helping customers achieve digital transformation and solving complex business challenges