BANGALORE: Wipro Ltd, a leading IT firm, and Chesapeake System Solutions Inc, U.S.-based financial software solutions firm, today announced a global alliance under which the Indian major will offer the latter's suite.

Wipro said it will offer Chesapeake's suite of financial software solutions that encompass Reconciliation Management and Balance Sheet Integrity (T-Recs Enterprise), Treasury & Cash Management and Bank Payment Management (SmartTreasury and SmartAnalysis) as both a cloud-based ASP service and as an in-house licenced software platform.

The introduction of reconciliation automation to the finance and accounting organisations can provide a much smarter, faster and effective way of delivering the accounting services from the SSC organisation or Retained Organisation, the two companies said in a statement.

An automated solution suite will also help the CFO to achieve sustained benefits through effective deployment of payment solutions, bank fee optimisation and effective automation of the balance sheet risk control requirements.

These solutions will enable the finance controller organisation to reduce the manual efforts involved in Balance Sheet Reconciliations substantially, thereby bringing efficiency and reduction in cost to the finance function, it said.

Chesapeake System Solutions is a premier provider of financial and treasury management software solutions.