Custom Vendor Landscape
Treasury Management Software
An Important Note
Understanding a Custom Vendor Landscape
- Info-Tech’s Custom Vendor Landscapes are custom deliverables that are built with a heavy emphasis on the use cases and selection criteria of the requesting client. They are intended to provide an external point-of-view on a smaller or niche software marketspace. They are built over the course of one week based on secondary research by one of our Software Selection Services analysts.
- These deliverables may be sanitized and published for convenient access by our other members; it is important to understand that they are not intended to be general market analysis reports like our SoftwareReviews Data Quadrants or Software Selection Guides.
- This report is bespoke to the client that requested it and is not intended to be an omnibus view of the entire marketspace (these deliverables are limited to ten vendors, and the vendor shortlist is often dictated in full or in part by the requestor).
- Please ensure that you are conducting your own due diligence on vendors within the space; the sanitized version of this report may be a helpful starting point for initial vendor shortlisting; the limitations of its scope and the highly custom nature of the vendor list and analysis contained within does not make it synonymous with the analysis in our omnibus market analysis research (SoftwareReviews Data Quadrants and Software Selection Guides).
Understanding the Selection Initiative
Objective
The client is a mid-sized real estate asset management firm looking to update an outdated proprietary treasury management system. Historically, most of the client’s systems have been internally developed but external systems are being considered due to time and cost efficiencies to support growth.
The ideal solution will include the listed functional capabilities, as well as ease of use, integration, efficiency, and a high level of configurability. The client is seeking a solution which is neither too light nor too complicated according to the unique size and scope of their organization. With many manual processes in place, the new solution will fully automate the asset management workflows and provide useful data.
Vendor Selection Criteria
In evaluating the marketspace for Treasury Management Software, Info-Tech’s analysts looked at the following vendor attributes:
- Breadth and depth of capabilities for treasury management software.
- Vendor footprint (vendor market presence, vendor share of mind, vendor stability and long-term viability)
- Focus on vertical-specific capabilities
- Customization potential and ease-of-use
- Affordability transparency
Selection Rigor Matters.
Enterprise software is a key driver of digital transformation - having a strong approach to vendor selection is essential. Info-Tech’s research shows that 70% of application selections fail because of poorly defined requirements and inadequate vendor validation.
Defining the Treasury Management Market
Market Definition
- A Treasury Management System (TMS) is a software application which automates the process of managing a company’s financial operations and financial activities such as cash flow, assets, and investments. Other capabilities can include bank integration, specialized features, and real-time data.
- The TMS supports the act of managing a company’s daily cash flows and larger-scale decisions when it comes to finance. Liquidity, credit-lines, optimize investment returns, strategize best use of funds.
- As opposed to an ERP, a Treasury Management System is a specialized solution handle to treasure and financial operations instead of the resources of the entire company.
- An industry specific solution will have a higher level of specialization, providing expertise and unique offerings for real estate asset management.
Key Trends in Treasury Management Software
53% of senior treasury professionals currently use a TMS, with and additional 16% planning to adopt one within two years.
Treasurer Magazine
Digital technology is enabling the treasury management system market to evolve, becoming a data producer for analysis and use by teams as well as a consumer of data for intelligent centralization.
Deloitte
Top Level Features for Treasury Management Systems
Feature Name |
Description |
|---|---|
Email integration |
Ability to read OCR for the emails for wire instructions |
Rule based approval |
Configurable rule-based approval for different groups by applying thresholds for the approvals and vendor-based mapping. |
Automated workflows |
Automation of analyst approvals of the cash payments, full automation of asset management workflows. |
Entity storage |
Payment management features, entity storage for banks to make payments from and payees to be made payments |
E-signatures |
Embedded or integrated capabilities for signing documents, sharing instructions, and other important client communications. |
Integration |
Native integration with popular banks to instruct the payment, integration with core systems to audit the cash payments and tagging them with the payables in the accounting system |
Ease of use |
Intuitive user interface, simplicity of use for all users, easily navigable platform without frustrations, glitches, or confusions. |
Configurability |
Solution can be customized and configured to the organization’s workflows, automating processes as fits with business process. Workflow automation is fit to the business, not the other way around. Fine tune unique workflows. |
Fit |
The right level of complexity will result in a solution which has the full range of capabilities without the added complexity of unnecessary functions. Expertise and experience serving mid-sized real estate asset management firms. |
Key Players
Info-Tech identified 10 platforms applicable to the use case. The platforms are listed in alphabetical order.
