TMS vs TMS: Let Battle Commence

In many ways, Covid-19 has been the ultimate test for treasury teams and their technology. With the spotlight firmly on treasury management systems (TMSs), treasurers are asking whether they have the best tech for the job – in a remote-working environment where instant access to ‘decision-ready’ data is critical. Is there a better TMS out there? Is one treasury system still really the optimal solution? Would multiple best-of-breed providers offer more functionality at reduced cost? And where do enterprise resource planning systems (ERPs) fit in a modern treasury? We answer these questions and more.

Since they were introduced in the 1990s, TMSs have come a very long way. Modern TMSs are no longer reserved for the very largest corporates. Vendors have also been quick to adopt technologies such as cloud computing, application programming interfaces (APIs), and artificial intelligence (AI) in a bid to keep pace with treasurers’ evolving needs – and their increasingly strategic role within the organisation.

But with Covid-19, treasury’s technology requirements have been ramped up in an extremely short period of time. And TMSs, along with Excel and ERPs, have come under close scrutiny, with certain functionalities becoming – quite literally – make or break for organisations.

TMS vs TMS – Functionality Matrix

As a companion piece for this article, we asked the vendors featured to share more information about the solutions and products they offer. This data has been compiled into a functionality matrix, covering the following areas:

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GTreasuryION TreasuryKyribaSerralaSimply TreasuryTreasury Intelligence Solutions (TIS)Accounts PayableApplication Programming Interfaces (APIs)Artificial Intelligence (AI)AutomationBest-of-BreedCash Flow ForecastingCash VisibilityCovid-19Enterprise Resource Planning (ERP)ExcelForeign Exchange (FX)Liquidity ManagementMachine Learning (ML)Money Market Funds (MMFs)ReceivablesRequest for Proposal (RFP)Risk ManagementRobotic Process Automation (RPA)SWIFT gpiTreasury Management System (TMS)TMI Issue 278Less