A beautiful synergy between treasury systems is on the rise.
When software vendors decide to open their platforms by publishing their application programming interfaces (APIs), magic can happen. It’s the difference between what one person can build in a small sandbox and what a team can fashion at the oceanside—a small sandcastle versus a mammoth and intricate sand sculpture. This year’s winners demonstrate that to have the peak offering in their respective fields, not only do they develop the best software, but play exceedingly well with partners
BEST A/P SOLUTION
FIS Payment Hub – Quantum Edition
Handling domestic and cross-border payments, FIS Payment Hub Quantum Edition helps mitigate payment fraud and errors through internal controls. In addition, the platform acts as an organization’s gateway to banking APIs while optimizing the consumption of bank services. The hub also provides a centralized view of payments and risk and supports Swift gpi, allowing users to track payments through their lifecycle until they reach their beneficiaries
BEST A/R SOLUTION
Flexi Software
FlexiReceivables handles invoice processing, customer management, cash-receipt processing, credit and collections. It provides a single environment to handle cash inflows and outflows seamlessly when paired with its accounts payable counterpart. Other features include out-of-the-box invoice processing, different transaction-date calculations option, a drill-down interface and exportable reporting capabilities. Flexi built its platform using an open and non-proprietary architecture based on Microsoft’s latest standards that permit easy integration with web services and industry-standard databases. In addition, the platform uses Microsoft’s SharePoint collaboration platform to deliver web-based content and workflows for the enterprise.
BEST TREASURY MANAGEMENT SOFTWARE
Siemens Gamesa & TIS
Delivering a treasury management system (TMS) to a new company created through a simultaneous carve-out from Siemen Windpower and a merger with Gamesa Elocia, cloud-based TMS vendor TIS and newly minted Siemens Gamesa met the challenge head-on. The young company has a turnover of 10 billion euros and operates approximately 1,200 bank accounts worldwide. It decided to establish a new in-house bank based on the latest version of SAP’s enterprise resource planning (ERP) platform, including SAP’s advanced payment management module, that would support transactions from the company’s other SAP, human resources and ancillary systems.
Siemens Gamesa and TIS implemented the TIS Enterprise Payment Platform. The new platform enables the in-house bank to allocate and book 85% of all inflows automatically. At the same time, it provides a clear status overview of the company’s ERP system and total cash flow and payment visibility.
BEST MOBILE CASH MANAGEMENT SOFTWARE
AgiCap
Access to treasury data on the run is necessary during the post-pandemic economic and supply-chain realignments. AgiCap’s intuitive mobile cash management application provides real-time monitoring of available cash in all accounts, receipts and disbursements through synchronization with those accounts and various business tools. The app, compatible with the Android and iOS mobile operating systems, lets users switch between companies with a click and from an account overview to a detailed view with a similar button click.
BEST CASH FORECASTING
Centage
Targeted at small and mid-sized companies, Centage’s Planning Maestro financial planning and analysis platform uses built-in logic to test multiple assumptions about how changes to cash flow will affect the organization and provide actionable insights from financial data. The platform, which operates as an extension of a company’s general ledger, generates precise, integrated and synchronized cashflow, balance sheet and profit & loss reports and streamlines 12- to 18-month rolling forecasts for variance reporting.
BEST VIRTUAL ACCOUNT SOLUTION FOR CORPORATES
iGTB’s Virtual Account Manager (VAM)
In the past 10 to 12 years, iGTB has heavily invested in its technologies; its Virtual Account Manager (VAM) covers 22 banks and ten industry segments in more than 18 countries across five continents. Over the years, the banking-as-a-service platform has morphed into a broad sub-accounting platform that can address escrow and client money use cases. The vendor, however, does not envision turning the platform into another payment, collections or liquidity platform but blends its functionality into a bank’s existing ecosystem. Recently launched in the US, the BaaS offering is available through partnerships with Amazon Web Services and Microsoft’s Azure cloud-computing environment.
BEST INVESTMENT MANAGEMENT SOLUTION
Kyriba
The SaaS offering from Kyriba has grown significantly and supports clients that range from mid-size to Fortune 500 multinationals in more than 100 countries. The vendor has invested heavily in research and development, which let Kyriba incorporate APIs, artificial intelligence and predictive analytics into its platform, which helps treasuries streamline their procedures and establish best practices. Other benefits include easy connection to source systems and other technologies, such as more than 1,000 banks, ERP systems and payment and treasury systems.
BEST NEW TREASURY TECHNOLOGY
ION Treasury’s Machine Learning
The introduction of machine learning, a subset of artificial intelligence, as an add-on to ION Treasury’s TMS platform enables it to automate repetitive tasks while improving its anomaly detection and anti-fraud measures. The new services also permit big data analysis, which can sharpen pattern recognition and provide workflow insights. Cashflow forecasting is among the services that benefit the most from the new technology, where the machine learning capability uses historical cashflow data to learn their behavior and periodicities. Transaction tagging also uses machine learning to tag new transactions using past tagging decisions appropriately.
BEST TREASURY ANALYTICS PROVIDER
FIS Treasury and Risk Manager Integrity Edition
Global payment giant FIS has introduced many new capabilities to its FIS Treasury and Risk Manager Integrity Edition throughout 2022. The new features include unattended data integration, web-based API integration and reporting across all core treasury functions. Through various partnerships with third parties like SaaS-tech provider SnowFlake, ERP-integration specialist Uniun and ERP cash-forecasting firm Coviarus, FIS has improved its data lake and reporting capabilities as well as introduced the FIS ERP Connector, which connects a treasury sub-ledger to one or more ERP general ledgers. Another partnership with digital custody and wallet provider Fireblocks adds digital asset lending and decentralized finance capabilities to the platform.
BEST CROSS-BORDER PAYMENTS SOLUTION FOR CORPORATES
Fides Treasury Services
Hosted offerings have gained a firm foothold within the corporate treasury, and Fides Multibanking Suite returns to lead the field. The online portal provides a central location where users can manage, monitor and execute single or mass payments. The platform can support more than 3,500 clients in 200 countries and territories connected to over 13,000 banks. It also can handle more than 210,000 Swift messages, including batch files, per day and be easily integrated into TMS and ERP systems.
BEST OPEN BANKING TREASURY SOLUTION
Finastra
Open architecture is the future for most software, and Finastra has led with its cloud-based Finastra Kondor, a TMS built for Tier-2 to Tier-5 banks worldwide. The company implemented a growing API marketplace that offers third-party vendors a way to develop applications that consume data from Finastra treasury and capital markets platforms. Finastra has introduced regulatory and market-change updates using this approach, enhanced cloud readiness and made good progress on a soon-to-be-released user interface.
