This article is written by Nomentia
Evaluate how well the solution integrates with your ERP and banking systems, supports real-time liquidity visibility, and automates forecasting and payments. Modern platforms should offer API connectivity, strong compliance controls, and scalable modules that adapt to the company’s growth and complexity.
Treasury teams are under fire. Cash is expensive, FX volatility won’t quit, banks are charging more for less, and regulators keep moving the goalposts. Meanwhile, without dedicated treasury management software, outdated systems and spreadsheet chaos make it harder than ever to see where the money actually is—let alone manage it effectively.
The result? Missed opportunities, unexpected risks, and wasted time on manual work that should have been automated years ago. Treasurers need real-time visibility, seamless payments, smarter forecasting, and ironclad compliance—but with so many options on the market, choosing the right system is a minefield.
Should you go all in on a full Treasury Management System (TMS) to centralize everything, or is it smarter to build a custom tech stack with best-in-class treasury management solutions for payments, forecasting, and risk management?
Let’s take a look at which approach makes the most sense for your business. But first:
A treasury management solution is a software solution that helps organizations automate, manage, and optimize their financial operations, including cash management, liquidity forecasting, risk management, payments, and compliance. It integrates with banking systems and ERPs and helps companies keep track of their cash, pay bills on time, move money where it’s needed, and avoid financial risks—all in one place, without the headaches of manual tracking.
Benefits of treasury management software solution
| Feature category | Description |
| FX & interest rate risk management | Automated FX exposure tracking across subsidiaries Multi-currency cash visibility in real-time Hedging and risk analytics with scenario analysis Scenario analysis to assess interest rate impacts Covenant compliance monitoring for financial ratios |
| Liquidity & cash management | Real-time cash positioning across global accounts Cash pooling and sweeping for optimized liquidity AI-driven forecasting for improved accuracy Centralized treasury management for in-house banking |
| Cash flow forecasting & planning | AI and machine learning for enhanced forecasting accuracy Scenario planning and stress testing Automated data integration from ERPs, banks, and financial platforms Analytics-driven cash flow lending assessments |
| Bank connectivity & payments | Multi-bank connectivity via APIs and SWIFT Automated bank fee analysis and reporting Centralized payments with fraud detection tools Secure payments and bank reconciliation |
| Debt & investment management | Debt and investment tracking with real-time updates Loan portfolio management and refinancing insights Support for alternative funding option management |
| Regulatory compliance & audit controls | Automated compliance monitoring (AML, KYC, tax) Audit trails and regulatory reporting Intercompany loan tracking for transfer pricing compliance Transfer pricing and tax reporting for compliance |
| Intercompany financing & netting | Automated intercompany netting to reduce costs Centralized treasury management for internal banking operations – Intercompany forecast reconciliation |
| Technology, cybersecurity & integration | Cloud-based access with mobile support Seamless integration with ERP, accounting, and payment systems Advanced cybersecurity and fraud detection tools |
Nomentia is a flexible and modular cloud-based Treasury Management System designed for mid-sized and large enterprises looking for centralized cash management and payment automation. Unlike some all-in-one TMS solutions, Nomentia offers modular functionality, allowing companies to select and implement only the features they need. The system focuses on bank connectivity, liquidity forecasting, cash flow visibility, and fraud prevention. With strong integration capabilities, Nomentia easily connects to multiple ERP systems, banks, and financial platforms.
| Key features | Strengths | Considerations | Best for |
| Multi-bank connectivity for global cash visibility Automated cash flow forecasting and liquidity management Centralized payment processing with fraud prevention FX risk management and in-house banking tools ERP and financial system integration | Highly modular, so companies only pay for what they need Strong cash visibility & bank connectivity features Quick implementation compared to some enterprise solution | Limited risk management capabilities for advanced FX and derivatives Requires multiple modules to cover all treasury functions | Mid-market and large multinational companies Businesses needing a modular approach to treasury management Companies focusing on cash visibility and payments automation |
Kyriba is one of the most comprehensive cloud-based TMS platforms, offering a broad set of treasury, risk, and liquidity management solutions for large multinational corporations. The system is known for its strong forecasting features, real-time cash visibility, and integrated risk management tools. Kyriba also provides robust payments processing, fraud prevention, and regulatory compliance features, making it ideal for businesses needing deep automation and global treasury centralization.
| Key features | Strengths | Considerations | Best for |
| Liquidity and working capital management with automated cash pooling Centralized payments hub with fraud detection and regulatory compliance FX and interest rate risk management with hedging tools APIs for seamless ERP and banking integration | Comprehensive treasury functionality in a single platform Advanced analytics for forecasting and risk Global support for multi-currency, multi-entity operations | Can be complex and costly for smaller businesses Longer implementation time due to extensive features | Large multinational enterprises with complex treasury needs Organizations looking for AI-driven forecasting and automation Companies needing advanced FX and liquidity management |
TIS (Treasury Intelligence Solutions) is a specialized cloud-based treasury and payments solution focusing on bank connectivity, centralized payment processing, and compliance monitoring. Unlike full-scale TMS platforms, TIS is designed to enhance payment workflows, fraud detection, and cash visibility without replacing core financial systems like ERPs. This makes it a strong choice for businesses with high payment volumes across multiple banks that need better automation and security.
| Key features | Strengths | Considerations | Best for |
| Centralized payment processing with multi-bank connectivity Real-time cash visibility across global banking partners Fraud detection and compliance tools for payments API-based integration with ERPs and financial platforms | Robust payment hub for large-scale transactions Strong security and fraud prevention features Quick to deploy with minimal disruption to existing systems | Limited financial risk management and hedging tools Not a full-fledged TMS—focused mainly on payments and bank connectivity es | Companies with high transaction volumes and multiple banking partners Businesses prioritizing secure, compliant payments Organizations looking for a payment-focused solution rather than full a TMS |
GTreasury is an all-in-one TMS providing strong cash management, risk mitigation, and financial automation. It is widely used by mid-sized and large enterprises that need better cash visibility, centralized payments, and FX risk management. GTreasury combines automated cash positioning, forecasting, and hedge accounting, making it a versatile choice for companies looking to reduce manual treasury work.
| Key features | Strengths | Considerations | Best for |
| Real-time cash positioning and forecasting Automated payments and bank integration FX and interest rate risk management Hedge accounting and financial compliance reporting | Well-balanced between cash, payments, and risk management User-friendly interface with customizable dashboards Good compliance and hedge accounting tools | Implementation can take time depending on company needs Customization requires additional configuration | Mid-sized and large multinational companies Businesses managing FX exposure and liquidity risk Organizations seeking end-to-end treasury automation |
SAP Treasury is a fully integrated TMS within the SAP ERP ecosystem, designed for large enterprises that require advanced treasury, risk, and liquidity management. It is best for companies already using SAP ERP, as it seamlessly connects with financial modules and provides real-time cash, risk, and payments tracking.
| Key features | Strengths | Considerations | Best for |
| Real-time liquidity and risk monitoring FX risk and hedge management Automated payments and bank communication Full ERP integration with SAP finance and accounting | Deep integration with SAP financial modules Strong compliance, risk management, and audit capabilities Highly scalable for global enterprises | Best suited for SAP users—integration with non-SAP systems can be difficult High implementation costs and complexity | Large enterprises using SAP ERP Companies needing deep financial integration and regulatory compliance Businesses with complex treasury and risk management requirements |
ION Group provides enterprise-level TMS solutions tailored for complex financial operations. It is widely used by large multinational corporations, financial institutions, and trading firms for automated treasury workflows, risk hedging, and advanced trading analytics.
| Key features | Strengths | Considerations | Best for |
| Cash and liquidity management Enterprise-wide risk management and hedging High-frequency trading and derivatives management AI-driven decision support and analytics | Highly scalable for global enterprises Best-in-class derivatives and FX risk management Deep automation and analytics | Very complex and costly—best for large institutions Requires dedicated treasury and finance teams | Global enterprises and financial institutions Companies with complex derivatives and FX hedging needs Organizations needing deep analytics and automation |
Serrala offers a modular, cloud-based treasury and financial automation platform, focusing on payments, cash visibility, and risk management. It’s widely used by mid-sized and large enterprises that want to automate global payments, gain real-time cash insights, and ensure regulatory compliance. Serrala integrates well with SAP and other ERPs, making it a strong choice for companies looking for embedded treasury automation.
| Key features | Strengths | Considerations | Best for |
| Global cash visibility and forecasting Automated payments and fraud detection Bank connectivity and reconciliation tools FX and liquidity risk management Seamless ERP (especially SAP) integration | Strong payment automation and fraud prevention Deep integration with SAP for treasury and finance Modular approach, so companies can scale features as needed | Best suited for SAP users—integration with non-SAP ERPs may require customization Not as feature-rich in financial risk management compared to enterprise-focused TMS | Companies looking for a treasury solution embedded within SAP Organizations focused on payments automation and fraud prevention Mid-sized to large enterprises needing scalable treasury modules |
Treasury Systems is a Nordic-based TMS designed for mid-market and large corporations looking for a user-friendly, cloud-based treasury platform. It covers the core treasury functions, including cash management, FX risk, payments, and liquidity forecasting, with a focus on automation and streamlined workflows.
| Key features | Strengths | Considerations | Best for |
| Cash and liquidity management FX and interest rate risk management Automated payments and reconciliation Bank connectivity and in-house banking Regulatory compliance tools | Straightforward and easy-to-use interface Good automation capabilities for mid-sized firms Strong FX and risk management tools | Less recognized globally compared to Kyriba or SAP Treasury May not scale as well for very large, multinational corporations | Mid-market companies with multi-currency treasury needs Businesses looking for a simple, effective TMS with strong automation Companies managing FX risk and liquidity across regions |
Treasury teams in don’t have the luxury of trial and error. Missed FX hedges, slow payments, poor cash visibility—these things add up fast. Cash is tight, risks are high, and the wrong system can slow you down instead of making life easier. Whether you go for a full TMS or build your own stack with best-in-class tools, the goal is the same: centralize, automate, and get real-time control over your cash.
The real question isn’t whether you need a treasury management solution. It’s how much longer you can afford to go without the right one.
Treasury Mastermind is a community of professionals working in treasury management or those interested in learning more about various topics related to treasury management, including cash management, foreign exchange management, and payments. To register and connect with Treasury professionals, click [HERE] or fill out the form below to get more information.
By Alexander von Schirmeister,
CEO at Nomentia
A bank portal still works. The ERP still produces data. A spreadsheet still calculates a forecast. A payment approval workflow still moves from one person to the next. Reports still reach the CFO, even if they arrive later than expected. From the outside, treasury appears to function. Inside the process, finance teams know exactly how much effort is required to keep that appearance of control intact.
Modern treasury cannot rely on disconnected systems because the questions it needs to answer are no longer isolated. Cash visibility depends on bank data, account structures, ERP information, payments in progress, forecast inputs, intercompany flows, financing activities, and exposures. Liquidity planning depends on operational data from the business, but also on treasury assumptions, market conditions, working capital movements, and funding plans. Risk management depends on reliable exposure data, but also on trade execution, hedge documentation, limits, reporting, and accounting. If each part of this picture sits in a different place, the treasury team becomes the integration layer.
That integration work rarely surfaces. It lives in copy-and-paste routines, manual file checks, email reminders, reconciliation notes, spreadsheet tabs, and individual memory. It is also where most treasury management challenges quietly begin.
Disconnected systems create time loss because data has to be gathered before it can be analysed. They create duplicated work because teams maintain local trackers even when central tools exist. They weaken cash visibility because the latest view may depend on which bank file has arrived or which entity has responded. They weaken controls because exceptions are harder to identify when workflows are not connected.
The CFO does not usually see the process friction. The CFO sees the answer. If the answer is late, inconsistent, or hard to explain, confidence falls. Senior leadership needs reliable responses to simple but high-stakes questions: How much liquidity is available? Which cash flows are expected? Where is working capital tied up? Are internal payments efficient? Which exposures are material? Are guarantees, hedges, and commitments under control? These questions cannot be answered well when the data behind them has to be rebuilt every time.
The 2026 Nomentia Treasury and Cash Management report highlights that many treasury teams are in a transitional phase. They have moved beyond purely manual treasury, but still rely on multiple systems and partial automation. The pattern is familiar: the organisation has invested in technology, yet treasury still spends too much time reconciling information and validating reports. The issue is not that systems are missing. The issue is that they are not connected enough to support the pace of decision-making.
Disconnected systems are especially risky in three areas.
The first is visibility. If cash positions, transactions, forecasts, and payment statuses are not consolidated, treasury may see parts of the picture but miss the direction of movement. A balance report can show where cash is today, but it does not explain whether the position is temporary, restricted, exposed, or needed elsewhere in the group. Visibility without context can create false comfort.
The second is control. Treasury policies often look clear on paper, but control depends on how processes actually run. Who can approve a payment? Which entities have followed the forecast process? Which exposures have been validated? Which guarantee is close to expiry? Which hedge relationship needs attention? When workflows are disconnected, control becomes dependent on manual follow-up. That may work when volumes are low, but it becomes unreliable as banks, entities, instruments, and reporting expectations increase.
The third is decision speed. In volatile markets, delayed answers are not neutral. A late forecast can affect funding decisions. A delayed exposure view can affect hedge timing. A slow payment status check can affect supplier confidence. A late view of guarantees or credit line usage can affect working capital decisions. Treasury does not need real-time data for every decision, but it does need enough connected information to avoid making decisions with yesterday’s understanding.
A modern treasury management system should not be judged only by feature breadth. The more important question is how well it reduces the gaps between systems, data, workflow, and reporting. A strong setup connects bank information, ERP data, payment processes, cash forecasting, risk workflows, analytics, and audit trails into a reliable operating model. That does not mean every company needs every module at once. It means the architecture should support growth without forcing the team to rebuild its processes every time complexity increases.
Most people researching a TMS today will start with a web search or ask Copilot, Gemini, or ChatGPT. The answer they get back is usually a feature list. That’s not wrong, but it’s incomplete. A good treasury management system helps finance teams centralise cash, payments, forecasting, risk, controls, and reporting so they can make better liquidity and financial risk decisions with trusted data. Features are how it gets there. That’s the distinction worth keeping in mind when evaluating whether your current setup is still fit for purpose.
The path away from disconnected systems does not always require a large replacement project. In many organisations, the better approach is to identify the most painful manual bridges first. Where does treasury re-enter data? Where does the team wait for local input? Where do reports need manual explanation? Where are approvals outside the system? Where is the same number calculated in different ways? These questions show where fragmentation is creating the most business risk.
Connected systems create reliable answers. They reduce the manual work behind cash visibility, improve the quality of cash flow forecasting, and support stronger controls and compliance. They help the CFO understand not only what the numbers are, but what they mean for liquidity, risk, and action. Disconnected systems may still function. But they make treasury work harder than it should, and confident decisions harder than they need to be.
Treasury Masterminds is a community of professionals working in treasury management or those interested in learning more about various topics related to treasury management, including cash management, foreign exchange management, and payments. To register and connect with Treasury professionals, click the button below.
This article is written by TreasuryCube
In an increasingly complex financial environment, In-House Banks (IHBs) have emerged as a strategic imperative for corporations seeking enhanced cash visibility, optimized liquidity, and streamlined intercompany transactions. Drawing insights from a recent presentation by experts at Citi and seasoned treasurers, let’s explore what makes an IHB not just an option, but a cornerstone of modern treasury management.
An IHB is a centralized internal financial entity that manages cash, investments, foreign exchange exposures, and intercompany lending on behalf of corporate subsidiaries. Acting as a “virtual bank” for the organization, it reduces the volume of external banking transactions and provides critical advantages in cash management, governance, and compliance.
Importantly, an IHB is not a regional treasury center, shared service center, re-invoicing hub, or physical licensed bank. It’s a bespoke solution that integrates deeply with corporate finance operations.
An IHB addresses several core challenges that treasurers face:
Real-world IHB implementations, like those led by Brook Ballard at Oceaneering, showcase the tangible benefits:
Intercompany netting further reduces payment transactions, bank fees, and FX costs by consolidating cross-border intercompany settlements.
While beneficial for many, IHBs are particularly advantageous for:
At TreasuryCube, we recognize that the modern treasury is not just about managing cash, it’s about unlocking strategic value. An effective IHB is a critical tool to help achieve that vision, especially when supported by integrated technology, skilled people, and proactive governance.
Treasury Masterminds is a community of professionals working in treasury management or those interested in learning more about various topics related to treasury management, including cash management, foreign exchange management, and payments. To register and connect with Treasury professionals, click the button below.
This article is written by our partner, FIS
The reality of payment fraud has shifted from a question of whether an attack will occur to a growing likelihood of when and how it will occur.
For finance and treasury leaders, the strategies that provided a sense of security a few years ago may be insufficient against a new breed of sophisticated and relentless criminals. A 2024 survey from the Association for Financial Professionals underscored this reality, revealing that a staggering 79% of organizations were victims of payment fraud attacks or attempts.
This is not a distant risk: It’s an active, daily threat that demands a fundamental change in an institution’s defensive posture. The traditional, reactive approach – detecting and responding to fraud after it occurs – is, in many cases, no longer a viable strategy. The time has come to build a proactive defense.
Today’s fraudsters are often not lone actors but organized, well-funded operations that use advanced technology and psychological tactics. They study organizational structures, identify process gaps and exploit the path of least resistance.
Business email compromise remains a dominant method, where criminals impersonate executives or vendors with alarming authenticity to redirect funds. We’re also seeing the rise of AI-powered deep fakes, where a trusted voice on a conference call can be convincingly spoofed to authorize a fraudulent transfer.
These criminals understand that the entire payment lifecycle, from the initial onboarding of a vendor to the final reconciliation, presents a landscape of opportunity. They target the seams in your processes, exploiting the very human desire for efficiency and speed. This “disharmony,” a term coined by a FIS® and Oxford Economics study, captures the friction between the drive for growth and the drag of persistent security threats.
According to the study, 75% of C-suite executives identify fraud as a critical challenge.
How can organizations overcome the evolving threat of fraud? The answer lies in shifting from a fragmented, manual and reactive stance to an integrated, automated and proactive one.
A truly effective defense begins by fortifying the most common entry points. The vendor master file, for instance, is the heart of the payables process and a prime target. A single fraudulent change to a supplier’s bank details can lead to catastrophic losses before anyone realizes an error has occurred.
Overcoming this type of threat typically requires more than just diligence: It often demands a standardized, technology-enforced process. It includes implementing out-of-band verification, such as a phone call to a preverified contact, for any change to payment instructions. It means moving beyond trust and implementing strict, automated validation protocols.
As transaction volumes grow, manual reviews can become an impossible bottleneck, creating the very noise that criminals use to hide their illicit activities. This is where modern solutions like AI-assisted anomaly detection become increasingly indispensable.
Unlike static, rule-based systems that can only catch what they are programmed to look for, AI and machine learning establish a baseline of “normal” payment behavior for each vendor and transaction type. These systems operate in real time, analyzing payments for subtle deviations in amount, frequency or timing that would be difficult for the human eye to detect. When an anomaly is detected, the payment is automatically flagged for investigation before it leaves the organization. This preemptive capability is a game changer.
Organizations can achieve a greater level of control by consolidating their payment flows through a centralized payment hub. Instead of managing disparate security protocols across multiple ERPs and bank portals, a payment hub provides a more unified point of visibility and control.
A payment hub enables the consistent application of security policies, approval workflows and fraud detection analytics across the entire enterprise. It standardizes an institution’s defense, creating a fortress rather than a series of disconnected fences. A payment hub integrated with a third-party account validation service provides another critical layer, confirming that a beneficiary’s name matches their account information before a payment is ever initiated.
Reduce fraud risk and strengthen controls with FIS Payment Hub – Enterprise Edition
The path forward for finance and treasury leaders requires a strategic pivot. It means recognizing that fraud prevention is not merely a compliance checkbox but a strategic enabler of business resilience and growth.
Building a proactive defense involves a holistic approach that integrates advanced technology, standardized processes and a culture of vigilant verification. By embracing AI-driven monitoring, centralizing payment operations and empowering employees with specialized training, you can transform your security posture from reactive to preemptive.
This shift does not just mitigate risk: It builds the confidence and operational integrity necessary to thrive in a complex financial world.
Treasury Masterminds is a community of professionals working in treasury management or those interested in learning more about various topics related to treasury management, including cash management, foreign exchange management, and payments. To register and connect with Treasury professionals, click the button below.
