What is Treasury Management Software?
And The Top 15 Solutions for 2020

To improve the financial strategy of a company, you need the right tools. Especially if you have a large volume of payments and payables work. There must be an efficient way to communicate financial data with shareholders, board directors, and business partners. This is where treasury software plays a critical role. 

What is Treasury Software?

Treasury software is an application that automates a company’s financial activities like cash flow, assets, and investments. It provides a treasury management system that tracks the ability of a business to convert assets into cash (a.k.a. liquidity) to meet financial obligations.

Key Benefits of Treasury Management

Before you adopt treasury management software, it’s important to have a general understanding of what it can offer. 

Here are some prime advantages to centralizing financial transactions into a single system:

• Forecasting capabilities that help to identify liquidity trends
• Automate cash management processes across multiple entities 
• Comply with local and global financial regulations and standards 
• Manage different types of risks like currency and interest rate fluctuations
• Deliver specific reports on liquidity and cash positions
• Provide a holistic view of all risks and opportunities related to cash management
• Define the schedules for the external and internal movement of funds

What are the Best Treasury Software Solutions?

#1) ATOM Treasury and Risk

ATOM Treasury and Risk is an integrated enterprise treasury management system (TMS) for larger businesses and financial institutions. It delivers instant cash visibility, performs high-security interest calculations, and automates core treasury processes that include:

• Cash management and banking
• Financial reporting
• Forecasting
• Liquidity management
• Investments and funding
• Hedging
• Risk management

#2) Kyriba

Kyriba provides proactive treasury management for CFO’s, treasurers, and financial leaders. The cloud-based system streamlines your treasury workflow and automates daily cash positioning activities. Key features include:

• Create and analyze cash flow forecasts
• Transaction monitoring
• Payment processing
• Financial risk management
• Optimize cash 
• Work with capital

#3) Trovata

Trovata provides bank account management with modern treasury software. The system uses open banking and ERP integrations to get you on board in minutes, with no implementation necessary. Key features include:

• Automate data aggregation
• Perform normalization and analysis
• Instantly report on cash positions and trends
• Connect in minutes
• No downloading .CSV files from the bank

#4) GTreasury

GTreasury is a cloud-based SaaS solution. It’s a functionally rich treasury management system that performs every task in a single database. The unifying technology helps a business work smarter and faster with key features like:

• Manage liquidity risk
• Oversee market, counterparty, and credit risk
• Hedging
• In-depth reporting and cash flow forecasting
• Highly-rated help desk and one-on-one support

#5) Calypso Treasury and Liquidity

Calypso is an integrated treasury solution that helps to centralize your balance sheet and general ledger. The system unifies all treasury activities on a single, real-time platform, including:

• Liquidity and compliance monitoring
• Optimized investments and funding
• Cash management
• Performance measurement and attribution
• ALM and balance sheet capabilities
• Hedging
• Reduced reconciliations 

#6) IBSFINtech

IBSFINtech has an innovative system that is a solution to all corporate treasury management issues. It enables treasury departments to focus on core decisions that provide value, rather than dealing with mundane work. The software automates processes and performs tasks like:

• Improves system transparency
• Enhances cash visibility
• Store and tag any document related to trades
• Implementation of control measures with scheduled backups
• Trade finance solution

#7) RocketChart

RocketChart understands that cash is vital for your business but tracking everything in Excel can be time-consuming. This platform simplifies and automates your cash flow while providing risk management solutions at fair pricing. Key features include:

• Connect all bank accounts
• Automate reporting
• Track cash flow in real-time
• Realize different forecast scenarios
• Predict future cash positions

#8) Bottomline WebSeries for Digital Treasury Management

Bottomline WebSeries for Digital Treasury Management drives revenue and ensures customer loyalty. The system provides deep configurable functionality that enables banks to offer a seamless customer experience within multiple markets. The program has an integrated suite of modules with features that include:

• Cash and check management functions
• Legal spend
• Fraud and financial crime
• Accounts payable automation
• Global payments
• Digital banking

#9) Fygr

Fygr is one of the first solutions to automatically build projections of your cash flow. Tracking and forecasting have never been easier. Startups, SMEs, and VSEs can automate cash flow management with a single tool. Keep all banks and accounts on a single platform and look for key features like:

• Automatically integrates with business bank accounts
• Manage cash flow
• Build realistic previsions over months of activity
• Up-to-date view of the cash position
• Liquidity management and forecasting

#10) Deluxe Treasury Management Solutions

Deluxe Treasury Management Solutions helps a business drive profitable growth with in-house, hosted, or BPO solutions. The system accelerates working capital and improves straight-through processing. Key features to keep an eye out for include:

• Receivables management
• Payment processing services
• Remote deposit capture
• Treasury management onboarding
• Check program and digital payments

#11) TreasuryPay

TreasuryPay gives you quick visibility into all transaction data, as it’s happening, wherever you are in the world. With a single network connection, organizations receive worldwide accounting and actionable business intelligence. The solution empowers enterprise intelligence with key features like:

• Monitor business performance and marketing results in real-time
• Liquidity management
• Marketing and supply chain information
• Stream global receivables data
• Reporting, alerting, and informational dashboards

#12) Nimbus Treasury

Nimbus Treasury by Chella Software is a cloud-based solution for Hedge Accounting and IFRS 9 compliance. The solution combines comprehensive functionality with a user-friendly interface and simple installation. Look for these top features:

• FX risk management
• Process automation
• Liquidity analysis
• Market and operational risk
• Compliance management

#13) CAPIX

CAPIX is a treasury and investment solution that provides users with a secure and central platform to manage investment and corporate treasury operations. The cloud-based system features advanced cash flow management and forecasting technology with a Microsoft Azure infrastructure. CAPIX boasts industry-leading features like:

• Liquidity and payment management
• Client and self-service portals
• Government compliance
• Secure data storage with customer accounts
• Risk assessment and financial analysis

#14) ACH Universal

ACH Universal is treasury software that will help save time and reduce data entry. Easily create and transmit NACHA and positive pay files. The system allows you to transfer funds between multiple accounts and create ACH files for:

• Employee direct deposit
• Collections from customers
• Payments to vendors and government agencies

The system includes key features like:

• Payment management
• ACH processing
• Recurring billing
• Payment processing services integration

#15) ZenTreasury

ZenTreasury is a cloud-based treasury and lease accounting software service that’s flexible and user-friendly. The system provides training via online, webinar, or in-person sessions. ZenTreasury has IFRS-16 calculations validated by an international audit firm and offers a host of features that include:

• Currency rate and accounting entries management
• Automate lease operations
• Track prices or term changes
• White-label capabilities to personalize the interface
• Searchable lease database

Which Treasury Management Software Solution is Right for Your Business?

In the past decade, the role of treasurers has evolved substantially. Corporate treasury management software is one of the fastest moving sectors of fintech and so, you’re going to encounter a lot of competition. That means due diligence to find the right solution for your business. 

As the industry grows to encompass new roles for treasurers, you need the right tools to bridge the gap. Some questions to ask might be:

• Does the system cover all the tools I need now AND in the future?
• Is it strong enough for my operations?
• Is it flexible enough to provide real-time reports?
• Does it require on-premise or offer the cloud for storage?
• What is the visibility like?

Ultimately, the top question to ask is if you secured the best value for your money. If you are still unsure, a lot of these products offer a free demo or setup to test out the environment. Taking time during the buyer’s journey simply means you’re more prepared for future growth.