As the global market continues to grow strongly and companies continue to replace spreadsheets with more robust and rich solutions. Treasury now plays a crucial role in corporate finance judging levels of liquidity, FX and/or interest rates being carried to be material to their financial results. In order to handle these crucial areas of corporate treasury the development of Treasury Management Systems (TMSs) ensued. TMSs are a complex piece of software which can be used to automate, record and control many core treasury functions. TMSs, sometimes referred to as ‘TreasuryWorkstations’, also act as a central database for information flowing in and out of the treasury, i.e. bank account data, FX and/or interest rates.
Whether it is cash, liquidity, capital markets, bank relationship management, in-house banking, risk, compliance, funds processing, debt and investments these critical areas have to be managed by a comprehensive software application. Some great providers on the marketplace are Cube, Hanse-Orga, Axletree Solutions, B.A.S., and ATOM. Each of these solutions provide treasury departments new and enhanced ways to tackle those above issues.
One of the areas that seems to go completely unnoticed in these applications is the point-of-sale and processor data related to money coming into the organization through electronic payments. Red Carpet Software provides treasury teams that level of reporting, fee analysis and funding settlement automation. You might say that Red Carpet Software compliments these systems and what they offer.
Red Carpet Software differs from Treasury Management Systems in three critical ways.
1. Doesn’t provide centralized treasury management system features such as ERP, cash analysis, liquidity management, financial risk assessment, investment analysis, etc.
2. Doesn’t currently API into any TMSs solution.
3. Focuses only on e-payment processor data and analysis and automates the settlement process of the processor funds into bank account.
Treasury Management Systems are critical to corporate treasury departments and combining that power with Red Carpet Software gives treasury departments the technology they need to tackle all areas of their business.