Best Treasury Management Systems

Researched and written by Nathan Calabrese

Treasury management systems help companies manage the cash and liquidity needed to pay employees, suppliers, or shareholders. This type of software system can also be used to manage financial risks related to liquidity, to track investments and debt, and forecast. Accountants and finance managers use treasury management system solutions to track the ability of the company to convert its assets into cash (also known as liquidity) to meet financial obligations. Top executives and company owners use treasury reports and dashboards within treasury management systems to improve the financial strategy of the company and to share financial information with shareholders, members of the board of directors, and business partners.

Treasury management systems can vary in complexity and functionality. Some treasury management technology companies focus mostly on cash management for SMBs, while others specialize on liquidity management for large companies. This type of system needs to integrate with accounting software and ERP systems to gather the financial information required to manage liquidity. Since liquidity is an essential indicator of the financial performance of a company, treasury management systems also integrate with corporate performance management software.

To qualify for inclusion in the Treasury Management Systems category, a product must:

  • Automate cash management processes across multiple business entities
  • Define schedules for internal and external movements of funds
  • Comply with local and global financial standards and regulations
  • Include forecasting capabilities to identify liquidity trends
  • Deliver dashboards and reports on cash positions and liquidity
  • Manage different types of risks such as currency and interest rate fluctuations
  • Provide a holistic view of risks and opportunities related to cash management

How Many Treasury Management Systems Products Does G2 Track?

Total Products under this Category: 111

Category Stats (Jun 2026)

  • Average Rating: 4.4/5 (↓0.01 vs May 2026) The average rating of products in this category, based on all submitted ratings
  • New Reviews This Quarter: 85
  • Buyer Segments: Mid-Market 39% │ Enterprise 31% │ Small-Business 30% Represents the distribution of reviewers across all products in this category.
  • Top Trending Product: Trovata (+3.32%) - Among all products in this category, Trovata recorded the largest rating increase compared to last month

Last updated: June 09, 2026

How Does G2 Rank Treasury Management Systems Products?

Why You Can Trust G2's Software Rankings:

  • 30 Analysts and Data Experts
  • 1,800+ Authentic Reviews
  • 111+ Products
  • Unbiased Rankings

G2's software rankings are built on verified user reviews, rigorous moderation, and a consistent research methodology maintained by a team of analysts and data experts. Each product is measured using the same transparent criteria, with no paid placement or vendor influence. While reviews reflect real user experiences, which can be subjective, they offer valuable insight into how software performs in the hands of professionals. Together, these inputs power the G2 Score, a standardized way to compare tools within every category.

Best Treasury Management Systems At A Glance

Leader:
Agicap
Highest Performer:
Atlar
Easiest to Use:
Round Treasury
Top Trending:
SAP Treasury and Risk Management
Best Free Software:
Agicap

Agicap

(357)4.4 out of 5
Product Description

Agicap is the leading all-in-one modular Cash Flow and Treasury Management platform worldwide. Our next-gen platform offers a Cash Flow Management core solution (bank connectivity, cash balancing,

Users: CFO, CEO · Industries: Accounting, Computer Software · Market Segment: 50% Small-Business, 43% Mid-Market
ProsEase of Use, Customer Support, Features, Cash Management, Efficiency
ConsIntegration Issues, Missing Features, Limited Customization, Difficult Setup, Implementation Issues
Year Founded
2016
HQ Location
Lyon, FR
Company Website
https://agicap.com
Twitter
@AgicapFrance
LinkedIn® Page
https://www.linkedin.com/company/agicap/

Kyriba

(122)4.5 out of 5
Product Description

Kyriba's Liquidity Performance platform is a cloud-based treasury management system (TMS) trusted to transform how organizations eliminate liquidity gridlock and optimize financial operations. The pla

Users: Treasury Manager · Industries: Insurance, Commercial Real Estate · Market Segment: 65% Enterprise, 20% Mid-Market
ProsEase of Use, Centralization, Efficiency, Financial Management, Time-saving
ConsComplexity, Difficulty, Improvement Needed, Learning Difficulty, Steep Learning Curve
Year Founded
2000
HQ Location
San Diego, CA
Company Website
https://www.kyriba.com
Twitter
@kyribacorp
LinkedIn® Page
https://www.linkedin.com/company/31955
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SAP Treasury and Risk Management

(52)4.2 out of 5
Product Description

SAP Treasury and Working Capital Management is a comprehensive suite of cloud and on-premise solutions designed to provide corporate treasury teams with total visibility and control over their financi

Industries: Financial Services · Market Segment: 44% Mid-Market, 38% Enterprise
ProsVisibility, Cash Management, Efficiency, Financial Management, Time-saving
ConsNot User-Friendly, Difficult Setup, Learning Curve, Learning Difficulty, Financial Management Issues
Year Founded
1972
HQ Location
Walldorf
Company Website
https://www.sap.com/
Twitter
@SAP
LinkedIn® Page
https://www.linkedin.com/company/sap/
Ownership
NYSE:SAP
Phone
+1 (800) 872-1727

Atlar

(61)4.8 out of 5
Product Description

Atlar is the AI-native treasury platform that helps finance teams manage payments, cash, forecasting, and bank connectivity — all in one place. Built for modern teams at scaling companies, Atlar is

Industries: Financial Services, Logistics and Supply Chain · Market Segment: 74% Mid-Market, 25% Small-Business
ProsCustomer Support, Ease of Use, Implementation Ease, Easy Integrations, Intuitive
ConsExpensive, Extra Charges, High Fees, Implementation Issues, Improvement Needed
Year Founded
2022
HQ Location
Stockholm, Sweden
Company Website
https://www.atlar.com/
Twitter
@atlarhq
LinkedIn® Page
https://www.linkedin.com/company/atlarhq/

Round Treasury

(41)4.9 out of 5
Product Description

Smarter treasury and banking for businesses – one platform for banking, investments, and treasury. More yield. More protection. Automate the dull stuff. · One Dashboard - Free connected banking

Users: CEO · Industries: Computer Software, Financial Services · Market Segment: 93% Small-Business, 5% Mid-Market
ProsEase of Use, Customer Support, Time-saving, Cash Management, User Interface
ConsDifficult Setup, Financial Management Issues, Improvement Needed, Integration Issues, Login Problems
Year Founded
2023
HQ Location
London, England, United Kingdom
Company Website
https://www.roundtreasury.com/
LinkedIn® Page
https://www.linkedin.com/company/roundtreasury/

Trovata

(34)4.5 out of 5
Product Description

Trovata is an AI-native treasury management and liquidity platform that centralizes multibank connectivity, cash visibility, treasury operations, and stablecoin within a single cloud-based system.

Users: Treasury Manager · Industries: Financial Services · Market Segment: 41% Enterprise, 32% Mid-Market
ProsAnalytics, Automation, Efficiency, Efficiency Improvement, Financial Management
ConsLearning Curve, Steep Learning Curve, Complexity, Difficult Setup, Field Limitations
Year Founded
2016
HQ Location
San Diego, CA
Company Website
https://www.trovata.io/
Twitter
@Trovata_io
LinkedIn® Page
https://www.linkedin.com/company/trovata-io

Nasdaq Calypso

(12)4.5 out of 5
Product Description

Nasdaq Calypso is a multi-asset, front-to-back capital markets and treasury platform that enables banks, buyside firms, and financial institutions to integrate and automate workflows critical to effic

Industries: Banking · Market Segment: 58% Mid-Market, 25% Enterprise
Year Founded
1971
HQ Location
New York
Company Website
https://www.nasdaq.com/
Twitter
@Nasdaq
LinkedIn® Page
https://www.linkedin.com/company/nasdaq/
Ownership
NASDAQ: NDAQ

Embat

(38)4.2 out of 5
Product Description

Embat is the next-generation treasury management platform, providing a centralised tool for banking connectivity, treasury processes, payment automation and automated accounting and reconciliation. Th

Industries: Accounting · Market Segment: 74% Mid-Market, 11% Small-Business
ProsIntegrations, Automation, Ease of Use, Easy Integrations, Flexibility
ConsIntegration Issues, Slow Performance, ERP Integration, Implementation Issues, Improvement Needed
Year Founded
2021
HQ Location
Madrid, ES
Company Website
https://www.embat.io
LinkedIn® Page
https://www.linkedin.com/company/embat-io

Coupa

(569)4.2 out of 5
Product Description

Point solutions are pointless: spend smarter with the leading spend management platform built for companies like you. The Coupa platform allows you to take control of your spend and position your busi

Users: Senior Accountant, Consultant · Industries: Computer Software, Information Technology and Services · Market Segment: 63% Enterprise, 31% Mid-Market
User Sentiment

Reviewers appreciate the user-friendly interface, the ability to track invoice approval and payment dates, and the ease of creating purchase orders and expense reports. Reviewers experienced issues with the software's outdated user interface, slow loading times, inflexible approval workflows, and the need to repeatedly enter the same information.

ProsEase of Use, Intuitive, Simple, Features, User Interface
ConsNot User-Friendly, Learning Curve, Difficult Navigation, Poor Interface Design, UX Improvement
Year Founded
2006
HQ Location
San Mateo, CA
Company Website
https://www.coupa.com/
Twitter
@Coupa
LinkedIn® Page
https://www.linkedin.com/company/coupa-software
Ownership
NASDAQ: COUP
Phone
6

Ripple Treasury, powered by GTreasury

(32)4.2 out of 5
Product Description

Founded in 2012, Ripple is a leading provider of enterprise solutions across traditional and digital finance. Its solutions span global payments, custody, liquidity, financing, and treasury management

Industries: Accounting · Market Segment: 50% Enterprise, 28% Small-Business
ProsFeatures, Navigation Ease, Automation, Ease of Use, Flexibility
ConsDifficult Navigation, Difficulty, Learning Difficulty, Limited Flexibility, Not User-Friendly
Year Founded
1986
HQ Location
Buffalo Grove, Illinois
Company Website
https://www.gtreasury.com
Twitter
@GTreasury
LinkedIn® Page
https://www.linkedin.com/company/761654/

Rho

(126)4.7 out of 5
Product Description

Rho is the modern banking platform built for startups. Open accounts in minutes, issue cards, manage expenses, pay bills, and close the books – all in one connected platform backed by real human suppo

Industries: Marketing and Advertising, Construction · Market Segment: 50% Mid-Market, 46% Small-Business
ProsEase of Use, Customer Support, Implementation Ease, Easy Setup, Time-saving
ConsLimited Options, Improvement Needed, Integration Issues, Limited Functionality, Reporting Issues
Year Founded
2018
HQ Location
New York, US
Company Website
https://www.rho.co/
Twitter
@rhobusiness
LinkedIn® Page
https://www.linkedin.com/company/rhobusiness/

Payflows

(24)4.5 out of 5
Product Description

Payflows provides finance teams with real-time, centralized, automated visibility, access & control over all finance data & workflows. It combines a suite of modules for Procurement, Payment

Market Segment: 83% Mid-Market, 13% Small-Business
ProsCustomer Support, Ease of Use, Implementation Ease, Automation, Easy Integrations
ConsSlow Loading, Slow Performance, Improvements Needed, Incomplete Features, Inefficient Search Functionality
Year Founded
2022
HQ Location
Paris, FR
Company Website
https://www.payflows.io/
LinkedIn® Page
https://www.linkedin.com/company/payflows-io

Treasure

(13)4.8 out of 5
Product Description

Treasure is a cash management platform to help businesses transform idle cash into revenue.

Market Segment: 77% Small-Business, 23% Mid-Market
Year Founded
2021
HQ Location
San Francisco, California
Company Website
https://www.treasurefi.com/
Twitter
@treasure_hq
LinkedIn® Page
https://www.linkedin.com/company/16272277

Serrala

(81)4.4 out of 5
Product Description

Serrala is the global market leader and innovator in finance process automation. Our award-winning suite of applications is the world’s only fully integrated and fully customizable AI finance automati

Industries: Accounting · Market Segment: 48% Enterprise, 33% Mid-Market
User Sentiment

Reviewers like the software's ability to automate and simplify complex payment processes, its seamless integration with SAP, and the centralized visibility it provides for cash positions, bank accounts, and transactions. Reviewers experienced issues with the EBAM feature, which can be slow and inefficient, and found that not all users consistently update information in EBAM, and some features, like generating letters, do not always work as intended.

ProsEase of Use, Automation, Customer Support, Easy Integrations, Automation Efficiency
ConsDifficult Setup, Expertise Required, Learning Curve, Learning Difficulty, Setup Difficulty
Year Founded
1984
HQ Location
Norderstedt, DE
Company Website
https://www.serrala.com
Twitter
@WeAreSerrala
LinkedIn® Page
https://www.linkedin.com/company/serrala/

Modern Treasury

(12)4.7 out of 5
Product Description

Modern Treasury provides the most trusted infrastructure for global money movement. Trusted by leading enterprises and financial institutions, the platform helps businesses launch and scale payment ex

Market Segment: 58% Mid-Market, 25% Small-Business
Year Founded
2018
HQ Location
San Francisco, CA
Company Website
https://moderntreasury.com
LinkedIn® Page
https://linkedin.com/company/Modern-Treasury