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The Current and Future State of Treasury Software Solutions

What you’ll learn


  • Learn the current and future state of treasury software solutions
  • Identify the path to begin with the latest treasury trends
  • Discover the benefits of embracing treasury software solutions

Overview of current treasury software solutions

What are the common tools of treasury management?

  1. Spreadsheet

    According to the Cash Forecasting & Visibility Survey by Strategic Treasurer, 91% of companies still use spreadsheets for cash forecasts. 

    Spreadsheets historically have been used to gather, track, and reconcile data for years. 

    The hurdles faced by the treasury department while doing cash forecasting with spreadsheets are:

    • Manual, error-prone, and time-intensive process
    • Difficulty in gathering and consolidating the right datasets
    • Requires a lot of input and frequent human adjustments
    • Low visibility into individual entities to find a variance
    • Dead-on-arrival reports due to time-consuming data gathering and collaboration between teams
  2. On-Premise TMS

    An on-premise Treasury Management System (TMS) is a locally hosted software. It helps automate, record, and control core treasury functions.

    Many enterprises assume a TMS can solve all their operational cash management issues. But the costs associated with maintaining the solution can be exponentially higher. Additionally, the return on investment takes years to appear due to these reasons:

    • Uses MT940 file formats downloaded from the bank and runs these statements. But the STP (straight through posting) rates are low, so data gathering gets delayed
    • Doesn’t support multiple users accessing, updating, and sharing information
    • Difficulty in creating custom reports and cash forecasting due to manual data exporting and cleansing
    • Requires manual intervention and reconciliation due to outdated UI and architecture
    • Cumbersome and expensive maintenance and updates

Overview of future treasury software solutions

SaaS, or Software-as-a-Service, is a cloud-based technique for delivering software to users. Instead of purchasing and installing an application, SaaS consumers subscribe to it. Users can access the SaaS application from any internet-connected device as the application.

It provides the following benefits:

  • It can provide significant cost savings by residing in a shared or multi-tenant environment with lower license costs than the traditional models.
  • It cuts down on time spent on installation and configuration, as well as issues that obstruct software deployment due to it being completely cloud-based. 
  • Automated upgrades constantly improve security levels and help keep the solution secure and up-to-date. 
  • SaaS operates remotely, allowing flexibility, scalability, and usability from any location as long as the user is connected to the internet.

5 ways to drive better treasury solution adoption with SaaS

5 ways to drive better treasury solution adoption with SaaS

  1. Better collaboration:

    Companies can use SaaS solutions to connect their people, processes, and clients, enhancing efficiency and visibility in treasury and risk management.

  2. Faster ROI: 

    SaaS treasury solution adds value by allowing the treasury processes to be scaled and replicated across the company to other areas that perform the same or similar process with minimal extra effort and cost, significantly benefiting in high gross savings. Companies can invest that saved amount in M&A or by buying stocks for achieving faster ROI.

  3. Easy and detailed data analysis:

    Treasury teams can use SaaS solutions to easily access, gather, and exchange data. Because data collection is automated, treasury can concentrate on more value-added activities such as analyzing data.

  4. More bandwidth for strategic tasks:

    A cloud-based treasury management system frees up the bandwidth of analysts. They can focus on liquidity planning instead of manual data gathering and modeling. With accurate and readily available data, treasurers can make confident investment/debt decisions.

  5. Faster deployment and implementation:

    Go live within weeks and with negligible IT involvement since our cash forecasting software doesn’t require additional software or hardware investment.

But one must embrace change and adapt the following steps to get started with new technology:

5 Ways to get started with treasury technology

  1. Enhance your understanding of technology, including its capabilities and limitations.
  2. Recognize the differences in business processes, areas for improvement, and the final stage of the process(the ‘must-haves’ and ‘extras,’ and the priorities).
  3. Identify the pain points to see how well the company’s solutions help the company grow and produce revenue.
  4. Make an effective ROI-driven business case that includes clear expectations and advantages.
  5. Embrace the benefits of the new solution and get ready for the next level of your business.

10 benefits of embracing treasury software solutions

  1. Automated cash positioning and bank data reconciliation
  2. Accurate scenario analysis to efficiently manage loans and investments.
  3. Streamlined bank administration and signatory tracking
  4. Controlled internal banking, sweeps, and corporate transfers
  5. Automatic preparation of different report iterations for various stakeholders
  6. Automated data gathering in real-time leads to more cash visibility
  7. Easy identification of trends and seasonality
  8. Better management of numerous risks, such as the volatility of currencies and interest rates
  9. Accurate cash positioning 
  10. Accurate short-term and long-term cash forecasting and timely reporting

Talk with our solution expert today to get more insights on SaaS treasury software and the benefits your company can get from adopting it.

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The HighRadius™ Treasury Management Applications consist of AI-powered Cash Forecasting Cloud and Cash Management Cloud designed to support treasury teams from companies of all sizes and industries. Delivered as SaaS, our solutions seamlessly integrate with multiple systems including ERPs, TMS, accounting systems, and banks using sFTP or API. They help treasuries around the world achieve end-to-end automation in their forecasting and cash management processes to deliver accurate and insightful results with lesser manual effort.