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Treasury teams are under fire. Cash is expensive, FX volatility won’t quit, banks are charging more for less, and regulators keep moving the goalposts. Meanwhile, without dedicated treasury management software, outdated systems and spreadsheet chaos make it harder than ever to see where the money actually is—let alone manage it effectively.
The result? Missed opportunities, unexpected risks, and wasted time on manual work that should have been automated years ago. Treasurers need real-time visibility, seamless payments, smarter forecasting, and ironclad compliance—but with so many options on the market, choosing the right system is a minefield.
Should you go all in on a full Treasury Management System (TMS) to centralize everything, or is it smarter to build a custom tech stack with best-in-class treasury management solutions for payments, forecasting, and risk management?
Let’s take a look at which approach makes the most sense for your business. But first:
What is a treasury management solution?
A treasury management solution is a software solution that helps organizations automate, manage, and optimize their financial operations, including cash management, liquidity forecasting, risk management, payments, and compliance. It integrates with banking systems and ERPs and helps companies keep track of their cash, pay bills on time, move money where it’s needed, and avoid financial risks—all in one place, without the headaches of manual tracking.
Benefits of treasury management software solution
- 1. Improved cash flow optimization
- Ensures businesses always have enough cash to cover daily expenses while minimizing idle funds.
- Helps forecast future cash needs to prevent liquidity shortages or excess reserves.
- Stronger working capital management
- Enhances accounts receivable (AR) and accounts payable (AP) processes for timely collections and payments.
- Optimizes inventory levels to avoid overstocking or shortages, maintaining financial balance.
- Better financial decision-making
- Provides real-time financial data for more informed budgeting, investment, and cost-cutting decisions.
- Reduces financial risks by offering insights into market trends and company performance.
- Efficient bank relationship management
- Centralizes management of multiple bank accounts for better visibility and control.
- Monitors fees and transaction costs to negotiate better banking terms. Strengthens security by managing access to company funds.
- Seamless payments & reconciliation
- Automates payment processes to reduce errors and delays.
- Matches incoming payments with invoices to improve accuracy and financial reporting.
- Optimized Interest rate & credit facility management
- Tracks borrowing costs to minimize interest expenses.
- Ensures credit lines are used efficiently, preventing unnecessary debt accumulation.
- Enhanced compliance & document management
- Stores treasury-related contracts, agreements, and compliance records in one secure location.
- Helps businesses stay compliant with financial regulations, reducing legal risks.
- Integration with ERP & accounting systems
- Syncs financial data across platforms to maintain accurate and up-to-date records.
- Reduces manual data entry, saving time and minimizing errors.
Key features of treasury management solution
| Feature category | Description |
| FX & interest rate risk management | Automated FX exposure tracking across subsidiaries Multi-currency cash visibility in real-time Hedging and risk analytics with scenario analysis Scenario analysis to assess interest rate impacts Covenant compliance monitoring for financial ratios |
| Liquidity & cash management | Real-time cash positioning across global accounts Cash pooling and sweeping for optimized liquidity AI-driven forecasting for improved accuracy Centralized treasury management for in-house banking |
| Cash flow forecasting & planning | AI and machine learning for enhanced forecasting accuracy Scenario planning and stress testing Automated data integration from ERPs, banks, and financial platforms Analytics-driven cash flow lending assessments |
| Bank connectivity & payments | Multi-bank connectivity via APIs and SWIFT Automated bank fee analysis and reporting Centralized payments with fraud detection tools Secure payments and bank reconciliation |
| Debt & investment management | Debt and investment tracking with real-time updates Loan portfolio management and refinancing insights Support for alternative funding option management |
| Regulatory compliance & audit controls | Automated compliance monitoring (AML, KYC, tax) Audit trails and regulatory reporting Intercompany loan tracking for transfer pricing compliance Transfer pricing and tax reporting for compliance |
| Intercompany financing & netting | Automated intercompany netting to reduce costs Centralized treasury management for internal banking operations - Intercompany forecast reconciliation |
| Technology, cybersecurity & integration | Cloud-based access with mobile support Seamless integration with ERP, accounting, and payment systems Advanced cybersecurity and fraud detection tools |
Top 8 treasury management solutions
- Nomentia: Nomentia is a modular, cloud-based TMS designed for mid-sized and large enterprises. It specializes in cash and liquidity management, payments, bank connectivity, and fraud prevention.
- Kyriba: Kyriba is a global cloud-based TMS focused on cash management, liquidity planning, risk management, and payments automation. It is widely used by global enterprises.
- TIS: TIS is a specialized cloud-based treasury and payments solution focused on global bank connectivity, payment automation, and compliance.
- Gtreasury: GTreasury is a comprehensive TMS with strong capabilities in cash, risk, payments, and accounting. It caters to businesses looking for an all-in-one treasury solution.
- SAP: SAP Treasury is a fully integrated TMS within SAP ERP, offering advanced treasury functions, risk management, and financial analytics.
- ION Group: ION Group offers enterprise-grade treasury solutions with a focus on automation, analytics, and risk management for complex treasury operations.
- Serrala: Serrala is a finance and treasury automation platform offering solutions for cash management, payments, and risk control.
- Treasury Systems: Treasury Systems is a Nordic-focused TMS providing cash, risk, and payments management for mid-sized and large businesses.
Top treasury management systems & software: Key features, strengths, considerations, best for
Nomentia
Nomentia is a flexible and modular cloud-based Treasury Management System designed for mid-sized and large enterprises looking for centralized cash management and payment automation. Unlike some all-in-one TMS solutions, Nomentia offers modular functionality, allowing companies to select and implement only the features they need. The system focuses on bank connectivity, liquidity forecasting, cash flow visibility, and fraud prevention. With strong integration capabilities, Nomentia easily connects to multiple ERP systems, banks, and financial platforms.
| Key features | Strengths | Considerations | Best for |
|
Multi-bank connectivity for global cash visibility Automated cash flow forecasting and liquidity management Centralized payment processing with fraud prevention FX risk management and in-house banking tools ERP and financial system integration |
Highly modular, so companies only pay for what they need |
Considerations Limited risk management capabilities for advanced FX and derivatives |
Mid-market and large multinational companies Businesses needing a modular approach to treasury management Companies focusing on cash visibility and payments automation |
Kyriba
Kyriba is one of the most comprehensive cloud-based TMS platforms, offering a broad set of treasury, risk, and liquidity management solutions for large multinational corporations. The system is known for its strong forecasting features, real-time cash visibility, and integrated risk management tools. Kyriba also provides robust payments processing, fraud prevention, and regulatory compliance features, making it ideal for businesses needing deep automation and global treasury centralization.
| Key features | Strengths | Considerations | Best for |
|
Liquidity and working capital management with automated cash pooling |
Comprehensive treasury functionality in a single platform |
Can be complex and costly for smaller businesses
|
Large multinational enterprises with complex treasury needs Organizations looking for AI-driven forecasting and automation Companies needing advanced FX and liquidity management |
TIS
TIS (Treasury Intelligence Solutions) is a specialized cloud-based treasury and payments solution focusing on bank connectivity, centralized payment processing, and compliance monitoring. Unlike full-scale TMS platforms, TIS is designed to enhance payment workflows, fraud detection, and cash visibility without replacing core financial systems like ERPs. This makes it a strong choice for businesses with high payment volumes across multiple banks that need better automation and security.
| Key features | Strengths | Considerations | Best for |
| Centralized payment processing with multi-bank connectivity Real-time cash visibility across global banking partners Fraud detection and compliance tools for payments API-based integration with ERPs and financial platforms |
Robust payment hub for large-scale transactions Strong security and fraud prevention features Quick to deploy with minimal disruption to existing systems |
Limited financial risk management and hedging tools Not a full-fledged TMS—focused mainly on payments and bank connectivity es |
Companies with high transaction volumes and multiple banking partners Businesses prioritizing secure, compliant payments Organizations looking for a payment-focused solution rather than full a TMS |
GTreasury
GTreasury is an all-in-one TMS providing strong cash management, risk mitigation, and financial automation. It is widely used by mid-sized and large enterprises that need better cash visibility, centralized payments, and FX risk management. GTreasury combines automated cash positioning, forecasting, and hedge accounting, making it a versatile choice for companies looking to reduce manual treasury work.
| Key features | Strengths | Considerations | Best for |
| Real-time cash positioning and forecasting Automated payments and bank integration FX and interest rate risk management Hedge accounting and financial compliance reporting |
Well-balanced between cash, payments, and risk management User-friendly interface with customizable dashboards Good compliance and hedge accounting tools |
Implementation can take time depending on company needs Customization requires additional configuration |
Mid-sized and large multinational companies Businesses managing FX exposure and liquidity risk Organizations seeking end-to-end treasury automation |
SAP
SAP Treasury is a fully integrated TMS within the SAP ERP ecosystem, designed for large enterprises that require advanced treasury, risk, and liquidity management. It is best for companies already using SAP ERP, as it seamlessly connects with financial modules and provides real-time cash, risk, and payments tracking.
| Key features | Strengths | Considerations | Best for |
| Real-time liquidity and risk monitoring FX risk and hedge management Automated payments and bank communication Full ERP integration with SAP finance and accounting |
Deep integration with SAP financial modules Strong compliance, risk management, and audit capabilities Highly scalable for global enterprises |
Best suited for SAP users—integration with non-SAP systems can be difficult High implementation costs and complexity |
Large enterprises using SAP ERP Companies needing deep financial integration and regulatory compliance Businesses with complex treasury and risk management requirements |
ION Group
ION Group provides enterprise-level TMS solutions tailored for complex financial operations. It is widely used by large multinational corporations, financial institutions, and trading firms for automated treasury workflows, risk hedging, and advanced trading analytics.
| Key features | Strengths | Considerations | Best for |
| Cash and liquidity management Enterprise-wide risk management and hedging High-frequency trading and derivatives management AI-driven decision support and analytics |
Highly scalable for global enterprises Best-in-class derivatives and FX risk management Deep automation and analytics |
Very complex and costly—best for large institutions Requires dedicated treasury and finance teams |
Global enterprises and financial institutions Companies with complex derivatives and FX hedging needs Organizations needing deep analytics and automation |
Serrala
Serrala offers a modular, cloud-based treasury and financial automation platform, focusing on payments, cash visibility, and risk management. It’s widely used by mid-sized and large enterprises that want to automate global payments, gain real-time cash insights, and ensure regulatory compliance. Serrala integrates well with SAP and other ERPs, making it a strong choice for companies looking for embedded treasury automation.
| Key features | Strengths | Considerations | Best for |
| Global cash visibility and forecasting Automated payments and fraud detection Bank connectivity and reconciliation tools FX and liquidity risk management Seamless ERP (especially SAP) integration |
Strong payment automation and fraud prevention Deep integration with SAP for treasury and finance Modular approach, so companies can scale features as needed |
Best suited for SAP users—integration with non-SAP ERPs may require customization Not as feature-rich in financial risk management compared to enterprise-focused TMS |
Companies looking for a treasury solution embedded within SAP Organizations focused on payments automation and fraud prevention Mid-sized to large enterprises needing scalable treasury modules |
Treasury systems
Treasury Systems is a Nordic-based TMS designed for mid-market and large corporations looking for a user-friendly, cloud-based treasury platform. It covers the core treasury functions, including cash management, FX risk, payments, and liquidity forecasting, with a focus on automation and streamlined workflows.
| Key features | Strengths | Considerations | Best for |
| Cash and liquidity management FX and interest rate risk management Automated payments and reconciliation Bank connectivity and in-house banking Regulatory compliance tools |
Straightforward and easy-to-use interface Good automation capabilities for mid-sized firms Strong FX and risk management tools |
Less recognized globally compared to Kyriba or SAP Treasury May not scale as well for very large, multinational corporations |
Mid-market companies with multi-currency treasury needs Businesses looking for a simple, effective TMS with strong automation Companies managing FX risk and liquidity across regions |
The best treasury management solution for you?
Treasury teams in don’t have the luxury of trial and error. Missed FX hedges, slow payments, poor cash visibility—these things add up fast. Cash is tight, risks are high, and the wrong system can slow you down instead of making life easier. Whether you go for a full TMS or build your own stack with best-in-class tools, the goal is the same: centralize, automate, and get real-time control over your cash.
The real question isn’t whether you need a treasury management solution. It’s how much longer you can afford to go without the right one.
