New Treasury Bot automates FX Deal Trading
With its technology partner BeeckerCo, ConVista developed "Tracy", a robotic process automation tool for treasury departments.
Today, treasurers are facing new challenges due to digitalisation and globalisation. The automation of previously manual checking work and data entry can help them to cope better with these challenges. ConVista has therefore developed a tool for Robotic Process Automation with its new technology partner BeeckerCo: the Treasury Bot "Tracy". As a digital worker, it supports treasury departments by automating the processing of FX deals.
The idea for the new bot originated from an internal innovation project at ConVista for the automation of trades in SAP. Tracy accompanies the entire FX process chain in Treasury. It automatically analyses the incoming currency positions in real time and assigns them to the right hedging strategy based on predefined rules. Tracy then proposes a concrete hedging and trading measure and obtains the approval of a real treasury employee. Only then does it execute the trade and record it in the SAP Treasury Management System.
ConVista provided the technical input and concept for Tracy, while BeeckerCo took on the technical development. The software company, which is headquartered in Mexico and employs over 300 people internationally, specialises in digital workplaces for SAP, SalesForce, Microsoft Office and websites with RPA and machine learning. ConVista is now using this technology for treasury. As an implementation partner of BeeckerCo, ConVista will distribute the digital worker Tracy in the European region. Further developments of Tracy for other financial instruments are planned for 2022.