Treasury management system

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A treasury management system (TMS) is a software application which automates the process of managing a company's financial operations. [1] It helps companies to manage their financial activities, such as cash flow, assets and investments, automatically. [2] A TMS is commonly used to maintain financial security and minimize reputational risk. [2] [3] It can be used by a company's internal management, and may be purchased from a technical supplier. [2] [4]

Contents

Functions

A TMS can use data to analyze and report payments, cash management and flow, banking and accounting. [5] Its functions are:

There are two types of the TMS: local [5] [1] and cloud-hosted (or cloud-based) systems. [5] [1] Local systems are installed on a business's home server, and enable maximum control of features and security protocols. [1] [5] Cloud-hosted systems are more economical, more serviceable and can be deployed more quickly. [1] [5]

TMSs are transferring to, and improving, the cloud-based system. [18] Software as a service (SaaS, a subscription system) can upgrade more quickly [19] and is becoming more popular. [18] The most important part of a cloud-based system is data protection, [18] [19] and improved data encryption or databases in a country with tight data security laws is a TMS trend; market consolidation is also a trend, enhancing functionality. [18] An increasing number of companies have adopted cloud-based systems, which are evolving in features and security. [19]

See also

References

  1. 1 2 3 4 5 Chan, Yvonne (2018). "What Is A Treasury Management System?". Compare the Cloud. Retrieved 2019-04-14.
  2. 1 2 3 "Treasury management systems overview" (PDF). Ernst&Yonug.
  3. 1 2 "Treasury Management Systems and Technology: Better and Faster | Crystal Delta". crystaldelta.com. Retrieved 2019-05-12.
  4. "The True Value of A Treasury Management System (TMS)". www.kyriba.com. Retrieved 2019-04-14.
  5. 1 2 3 4 5 "Treasury Management Systems and Software | 2019 Trade Finance Global Treasury Management Hub". Trade Finance Global. Retrieved 2019-05-12.
  6. 1 2 3 4 "Treasury Management | The 2019 Ultimate Guide to Treasury Management | TFG Business Hub". Trade Finance Global. Retrieved 2019-06-07.
  7. 1 2 "Cash and Liquidity Management | 2019 Trade Finance Global Treasury Management Hub". Trade Finance Global. Retrieved 2019-06-07.
  8. 1 2 3 "Making real-time cash management a reality" (PDF).
  9. 1 2 "Cash Management". www.homefederalbank.com. Retrieved 2019-06-07.
  10. 1 2 3 "Definition of cash flow forecast | Accounting glossary". FreeAgent. Retrieved 2019-06-07.
  11. 1 2 3 "How to make a cash flow forecast". FreeAgent. Retrieved 2019-06-07.
  12. 1 2 "IBM Knowledge Center". www.ibm.com. Retrieved 2019-06-07.
  13. 1 2 3 "What Are Account Reconciliations?". BlackLine Magazine. 2017-11-02. Retrieved 2019-06-07.
  14. 1 2 3 Elmblad, Shelley. "Why Reconciling Bank Accounts Is Important". The Balance. Retrieved 2019-06-07.
  15. 1 2 Bankrate.com. "What is debt management?". Bankrate. Retrieved 2019-06-07.
  16. 1 2 "Trade Finance Explained: 2019 Update for Brexit/ Trade Wars & Free PDF". Trade Finance Global. Retrieved 2019-06-07.
  17. 1 2 3 "Trade Finance Software | 2019 Trade Finance Global Treasury Management Hub". Trade Finance Global. Retrieved 2019-06-07.
  18. 1 2 3 4 5 6 "Treasury Management Systems: Trends and functionalities #GrowthCrossings". Standard Chartered: Growth Crossings. Retrieved 2019-05-12.
  19. 1 2 3 Kelly, Susan (December 20, 2017). "Treasury Software Trends in 2018". Treasury & Risk. Retrieved 2019-05-12.