Case Study: Petrofac achieves treasury transformation and automation with ION Treasury’s Reval

Petrofac From PDFs and Excel, to treasury disruptor

Petrofac, a London‑headquartered oilfield services company with 24 offices, faced highly manual treasury operations—data shared via PDFs and Excel, FX trading in silos, hundreds of bank accounts and complex intercompany loans. To build a modern treasury model and eliminate redundancies, Petrofac selected Reval, the SaaS Treasury Management Solution from ION, to improve security, visibility and automation.

ION implemented Reval (and its IBAM bank account management capability alongside Oracle Fusion) to automate trade imports and straight‑through processing to FX platforms, launch a same‑day global cash management program with Citi, capture daily sweeps, and provide 470 standard reports for improved liquidity visibility. The program also moved guarantee handling into treasury, reduced bank partners from over 70 to approximately 30 (delivering year‑over‑year savings), and added RPA for commodity trade confirmations—cutting manual effort and errors while increasing transparency and speed across Petrofac’s treasury.

Petrofac

Matt Norris

Assistant Group Treasurer