Treasury Management System: 7 Key Uses

Treasury management systems (TMS) have been used over the years to improve financial management, improve efficiency, and reduce risks. The application has mostly been used in big corporations that can afford to pay for sophisticated tools.

However, with advances in technology, TMS providers are now offering simpler and more affordable solutions to meet the needs of small and medium-sized businesses. Smaller companies now have the opportunity to pay only for the solutions they require to run their business.

Whether you are a small or big business, a TMS can help your company in the following ways.

Real-Time Cash Visibility

Being able to view the actual cash position is of real value to every organization. With real-time cash visibility, companies are able to make informed decisions.

It also reduces the time taken in making decisions. In addition to the current cash position, TMS can also help in checking the forecasted cash position.

Data Analysis

With manual or semi-automatic processes, treasury teams spend a lot of time compiling and analysing data. Treasury management solutions eliminate the amount of time spent in data analysis, leaving the team with enough time to focus on other business processes.

Manage Risks

Most treasury management solutions are offered in the cloud and this allows companies to remain functional, even in the event of computer damage in the office. If computers are stolen, destroyed, or infected with malicious codes, the treasury team can still access the files stored offsite. Lost or corrupt data can be a big blow to the company, crippling business operations and leading to issues with the customers and investors. With a cloud TMS, you will have continuous access, regardless of disasters at the office.

Additionally, the system allows companies to eliminate fraud by implementing several controls. Examples include login controls, assigning roles and limiting access rights, to mention but a few. Finally, increased cash visibility also helps in reducing risks for the company.

Remote Access

When someone is away on a trip or is unable to come to the office for any other reasons, they can be given access to services through their mobile device. Put differently, the system allows entries to be viewed anytime and from anywhere. There will be no need to rush to the office every time you require some information.

Cost Reduction

One of the ways to keep your profits high is to look for ways to cut on costs. TMS can minimise the costs incurred in treasury functions. It improves the efficiency of operations and this plays a big role in cutting costs.


Auditing will be much easier with a treasury management system. You will have an accurate audit trail, showing all the actions related to a specific entry. You can easily track who made each entry and this plays a big role in eliminating fraud in a company.

Reduce Errors

One of the key reasons to invest in treasury management solutions is to reduce errors in financial records. Wrong entries, deleted details or hidden figures can cost the company huge sums of money or lead to misguided decision making. With a digitised workflow, the human errors that arise from manual workflow can be eliminated.

With a treasury management system, companies can have better cash visibility, improved productivity of treasury teams and reduced errors and fraud. You can request a demo through AccessPay if you want to have an overview of how it works. Before you get a TMS for your business, ensure that you get a demonstration to see how everything works. This will help in determining whether or not the system is right for your needs.

However, before you go through the process of selecting a solution, there are three key factors that you need to consider. One, evaluate your current processes and their strengths and weaknesses. Two, identify the value that a treasury management system would add to your business. Three, come up with a budget and begin your search for a suitable solution. Some qualities of a good solution include integration with existing systems, adaptability, security, affordability, and automation capabilities.

Finally, it is essential to go with a vendor that offers great customer service. Implementing a Treasury Management System can be tough, so look for a provider who is likely to support during implementation, training, and later on when you have issues.

About Anne Seymour

Anne is a young webpreneur, interested in all things related to money: earning, investing, saving. She's paid off her student loans and now is looking forward to doing a lot of writing and traveling.

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