Trends in Cash, Liquidity, and Working Capital Managment Automation: Assessing TMS Vendors, Part II

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16 July 2009


Economic conditions demand the synchronized management of cash, liquidity, and working capital. Treasury management system vendors are competing for a growing market, and corporate users must be aware of their relative stengths and weaknesses.

A treasury management system (TMS) is a suite of software applications treasurers use to integrate their operations with corporate business results. In this report, Trends in Cash, Liquidity, and Working Capital Management Automation: Assessing TMS Vendors (Parts I and II), Celent evaluates TMS solutions for corporations, analyzing and comparing the technical and functional solutions offered by a select number of TMS packages that cover treasurers’ cash management needs.

Sensitive data of the corporate financial supply chain are dispersed in disparate systems, and the need for more effective, synchronized visibility has become imperative. This report investigates how the selected vendor solutions go beyond traditional back office cash applications to cover other areas in great demand, namely, integration and payment processing platforms.

"Only a limited portion of the true value of a TMS resides in features and functions," says Enrico Camerinelli, senior analyst with Celent’s Banking group and author of the report. "The long-term success and ROI of a TMS installation depends on how well it integrates with best-of-breed solutions for foreign exchange, transaction analysis, trading, hedge accounting, payments, netting, and pooling, and with bank processing systems."

This report uses Celent’s ABCD Vendor View framework to analyze vendor solutions based on their ability to address the needs of corporate treasurers. For each vendor, the report evaluates the assessment criteria and provides in-depth comments. An ABCD chart depicts the position of each vendor on a matrix.

A companion report, Part II, has 60 pages and contains 13 figures and one table. Featured players are: Kyriba, SAP, and IT2.