Ignite and lead a revolution to modernize and transform accounting for multi-national companies by providing instant —at the moment sales occur — revenue transaction and business intelligence data.
Since 1993, Formula founders have directed, co-managed or served strategic partnerships with payment industry leaders such as Bank of America, Chase Paymentech, First Data, Global Payments, and Wells Fargo.
While acquiring merchants in 50 states for banks and processors, our founders developed a software platform to support their merchant service marketing and management companies. The software tools have been time-tested during real-world, multi-industry engagements with transaction volumes over $22 billion.
In 2015 Formula met with corporate leaders, Fortune 500 C-level executives and payments technology veterans to discuss challenges global businesses face managing revenue, inventory and business intelligence data. The problems shared spawned an idea that would provide a solution to create near real-time information for corporations that desperately operate in the blind for international revenue collection and its corresponding business intelligence.
Formula has launched the solution for global revenue management – TreasuryPay®. Working in partnership with IBM and several of the Big 4 accounting firms, Formula’s TreasuryPay® can transform the way global corporations account for and manage revenue and inventories. For more, visit TreasuryPay.com.
NEW ERA OF PAYMENT & ACCOUNTING SPACE INNOVATION
Our history of identifying and automating routine, inefficient workflows for corporations, banks, and payment processors, made us a market leader in the business payments space. Reducing operational costs is just one way we have helped transform organizations.
Over many years we noticed all of the data being passed and dismissed. Global corporations dump terabytes of valuable information due to inefficient legacy platforms which have not benefited from innovation and modernization. Multi-national companies must adapt to survive and thrive. Unfortunately, there aren’t many options that require less than a $10 million annual investment. Until now.
WHERE IS THE DEMAND?
Formula’s TreasuryPay® Product Suite delivers a secure global revenue platform that solves the problems and concerns of market leaders and their advisors.
"Global corporations require a single platform, independent and flexible. They must consolidate their view of the liquidity and financial position while encompassing visibility across geographies, standardized performance metrics, and communication layers." – BCG & BNP Paribas
Formula’s TreasuryPay® Product Suite delivers a secure global revenue platform with the resiliency of normalized, real-time information while establishing enterprise process conformity. The result: a solution to global demand and known market deficiencies.
"The primary challenges facing treasury groups today have not yet been resolved with the increased investment in treasury technology. Inadequate systems, FX management and visibility to global operations continue to be difficult." – Deloitte
"Corporations need visibility to cash, liquidity and exposures; the ability to manage risk; and to be able to enforce well-controlled processes." – 2016 Treasury Management Systems
"There are five disruptive forces that reshape the payments landscape over the next three to five years: The continuing digital transformation of merchant payments, the shift in power from data accumulation to data insights and applications, the advent of non-card real-time payments, rapid growth in cross-border transaction banking and payments will be the cornerstone in the next phase of digital banking." – McKinsey & Company
The only opportunity to recognize immediate global revenue information and its corresponding business intelligence in a single, secure, platform has arrived — TreasuryPay®.
Formula’s team has discovered the primary source of business pain in the payments industry is the number of disparate processor legacy systems and network endpoints each corporation must employ — most of which are home-grown and outdated, usually requiring high integration costs for launching new products and services. Formula is dedicated to relieving this pain.
HOW FAST IS "NOW"?
Are you tired of the phrase “real time”? It’s probably one of the most misused phrases in marketing. The reason it’s misused is due to perspective. Example: If all a company does is look at a bank account in the morning and notices a change in the account the same morning, is that “real time” monitoring? Of course not! Analysts at global corporations want to know what’s going on and have control at the inception when a transaction item occurs. By the time monies are received at the bank, Formula’s TreasuryPay® systems have had the information, in some cases, for several days.
In 2017, we launched a system that advances corporations from large staffs with spreadsheets in the current accounting and analytics world to a unified system where all corporate revenue information is normalized in a consistent format, language and currency of the corporation’s choosing. And the timing? In the NOW!
GLOBAL SCALE AT MINIMAL COST
The need to expand into more diverse, global markets for corporations has never been higher. With each new expansion comes a deluge of different, non-traditional processes and data. Additional communication and data networks drive costs that may be so substantial, they hinder or even prevent the growth from taking place.
As an IBM Global Business Partner, Formula has developed and deployed a scalable platform that enables global communication, data normalcy and enterprise business intelligence in a single instance. Global corporations benefit from a substantial cost reduction on day one. Formula has created a platform technology that removes expensive layers and excessive development costs associated with expansion into new geographical areas.
FEATURE-RICH & USER-FRIENDLY TECHNOLOGY
Formula continues to maintain technology platforms that have features you have told us you need. Our platforms are pre-integrated to deliver information to/from Blockchain fabric (Ethereum and Hyper ledger), which saves a corporate investment in development and expensive design time. With the Internet of Things (IoT), we provide instrument friendly Application Programming Interfaces (APIs) which access rich data contentment and reporting through our platform, delivered throughout your enterprise.
Formula is an IBM Watson direct integration partner. Our business intelligence is developed with a global leader in enterprise cognitive data systems. Formula’s ingenuity and rigorous quality controls are powered by Watson to provide an unsurpassed end-user suite of deliverables that enhance your corporation’s performance.
HOW MAY WE HELP YOU?
Formula is uniquely positioned to deliver performance technologies in the payments and business intelligence space. We welcome discussions about how to help you become more strategic with your enterprise information.