By Rhonda Miller
PBN Staff Writer
LONDON – Corporate treasurers moving forward from traditionally automated functionalities such as bank statements, payments and cash balances want treasury management systems that help navigate the turbulent waters that have come in the wake of the financial crisis, according to a report released July 8 by the London office of the Boston-based Aite Group, an independent research and advisory firm focuses on business, technology and regulatory issues that impact the financial services industry.
“Treasurers want Treasury Management Systems that offer value-added information for smart decision-making,” according to the report, TMS for Corporations: A Market Update.
“TMS vendors must satisfy the needs of more sophisticated treasurers who are now looking behind the reliability and availability of data and search to improve the management of corporate cash and liquidity,” the report found.
“Treasury system support is increasingly becoming an essential requirement for companies with less than $1 billion in revenue,” said Enrico Camerinelli, senior analyst in wholesale banking at Aite Group. “TMS vendors must adapt to this new market with richer, more integrated, software-as-a -service-based solutions that are delivered through a network of regional partners or direct sales teams.”