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5.4.2022 | Last updated: 16.1.2025

11 min read

Best cash management solution providers

When it comes to cash management, every move counts: when to hold, when to invest, when to pay. Too often treasurers and cash managers are left in the dark, scrambling after fragmented, incomplete data, jumping from one outdated system to another trying to get clear view on cash availability, projections, and positions. All the while trying to mitigate risks and preventing fraud. The result? Missed opportunities, inefficiencies, and exposure to unnecessary risks.

With so much at stake, can your business afford to play it safe with inefficient tools?

The answer is: a cash management solution. A centralized system for better liquidity, forecasting accuracy, efficiency, and risk mitigation. But which cash management solution is the best, and why?

Let’s take a look:

Key features of effective cash management solutions

With so much at stake, businesses of all sizes should look for: modularity, visibility, bank connectivity, system integration, process automation, and expert support. Here’s why:

  • Real-time visibility into cash flow: Real-time data allows treasurers to make informed decisions quickly, minimize liquidity risks and seize investment opportunities. It ensures accurate forecasting and avoids surprises in cash positions.
  • Automation of routine processes: Automating tasks like reconciliations, payments, and reporting reduces errors, saves time, and allows treasury teams to focus on strategic initiatives instead of manual, repetitive work.
  • Integration with other financial tools and systems: Seamless integration with ERP systems, accounting software, and payment platforms ensures that data flows smoothly.
  • Multi-bank connectivity: Managing accounts across multiple banks (through bank connectivity options like SWIFT, host-to-host, banking APIs and regional connectivity technologies) in one platform simplifies operations, conversions and format changes, improves cash consolidation, and gives a holistic view of an organization's liquidity and makes sure you control all your banks.
  • Security features: With financial data being highly sensitive, robust security measures protect against fraud and cyberattacks.
  • Scalability and customization options: As businesses grow or their needs evolve, scalable and customizable solutions ensure the system can adapt without costly overhauls or replacements.
  • Ongoing support: Access to reliable support ensures any technical issues or questions are resolved quickly. 

How to evaluate cash management solution features?

The right questions to ask when evaluating cash management solutions:

Feature question Why does it matter?
Does the solution provide real-time visibility into cash positions? Real-time insights are critical for timely decision-making, liquidity risks reduction, and cash deployment optimization.
Can cash management solution handle multi-currency transactions and accounts? Multi-currency management is necessary for global operations to efficiently manage diverse currencies, mitigate exchange rate risks, and comply with international regulations.
Does it include robust cash flow forecasting tools? Accurate forecasting ensures better planning, avoids liquidity shortages.
What features are available for liquidity and investment management? Liquidity and investment management tools help maximize returns on surplus funds and maintain appropriate liquidity buffers.
Can it integrate seamlessly with our ERP, TMS, and banking systems? Streamlined integration eliminates data silos, reduces manual errors, and creates a unified financial management ecosystem.
Does it automate routine tasks like reconciliations and payment processing? Automation saves time, minimizes human error, and allows teams to focus on value-added activities.
What fraud prevention and detection features does it include? Security tools protect against fraud, ensure compliance with regulations, and safeguard the company’s financial assets and reputation.
Does it provide detailed and customizable reporting capabilities? Tailored reports offer actionable insights and facilitate audits.
How easy is it to access and analyze historical cash flow data? Historical data analysis improves forecasting, identifies trends, and helps refine cash management strategies.

Best cash management software

  1. Nomentia: A versatile cash management solution combining efficient cash handling with secure, automated processes and control over cash positions
  2. SAP Cash Management: Comprehensive liquidity management solution with real-time insights
  3. Kyriba: Flexible solution combining scalable cash management with detailed analytics
  4. Coupa: Unified platform for cash management and comprehensive spend tracking
  5. HighRadius: Advanced solution offering automated cash management
  6. TIS: A dynamic cash management solution with customizable features and insightful data analytics
  7. Agicap: Intuitive tool for cash flow tracking and financial visibility
  8. Serrala: An agile cash management solution for automation, tracking and reporting
  9. Trovata: A cash management and banking solution for automated cash flow control.
  10. CashAnalytics: A flexible tool offering smart cash management features

Top 10 cash management solutions

1. Nomentia

Nomentia offers complete cash management solutions that bring cash visibility, forecasting, and liquidity management at the center stage. Nomentia integrates with existing financial systems and provides real-time updates on cash positions and customizable cash forecasting models. Through automation, Nomentia’s hyper-modular cash management solutions simplify manual reconciliation tasks and give businesses greater control over their cash flow. Nomentia is the solution for organizations looking to enhance cash forecasting precision and improve financial transparency.

Nomentia cash management

Key features Pros Cons Best for
  • Modular architecture for tailored solutions
  • Automated payment centralization and bank reconciliation
  • Automated cash and liquidity forecasting, predictive analytics, and analysis tools
  • Real-time cash position tracking
  • Highly customizable for complex cash management needs
  • Modularity supporting agile implementation and scalability
  • Extensive library of bank connectivity options and payment file conversions
  • Exceptional support for international bank connections
  • Easy-to-use interface
High flexibility and configuration options may not be best for companies looking for a ready-to-deploy, turnkey solution. Medium to large businesses with complex cash flow structures:
  • Global payment centralization / harmonization / fraud prevention
  • Centralized cash forecasting
  • Sanctions compliance
  • Global liquidity reporting

Learn more about Nomentia Cash Management >>

2. SAP Cash Management

SAP Cash Management provides comprehensive set of tools for managing cash flow, liquidity, and financial risk. It integrates with other SAP modules, offering real-time visibility into financial data and facilitating control over cash positions. This solution helps businesses to optimize working capital, reduce liquidity risks, and make more informed financial decisions.

Key features Pros Cons Best for
  • Cash flow and liquidity forecasting
  • Integration with SAP ERP and other financial systems
  • Risk management and compliance tools
  • Highly efficient for SAP users.
  • Advanced reporting capabilities. Comprehensive integration with SAP ERP, real-time visibility, robust risk management.
  • Less ideal for businesses using non-SAP ERPs or fragmented system ecosystem.
  • Implementation complexity.
Large enterprises with existing SAP systems looking for integrated cash management.

Learn more about SAP cash management >>

3. Kyriba

Kyriba is a cloud-based treasury and finance solution for managing cash, liquidity management, payments, and risk. The solution enables businesses to stay on top of their finances across multiple locations and automate complex financial processes.

Key features Pros Cons Best for
  • Cash flow forecasting.
  • Payment fraud prevention tools.
  • Bank connectivity.
  • Integration with ERPs.
  • Global cash visibility. Strong automation features.
  • Extensive bank connectivity.
May require significant customization, causing high implementation costs. Large multinational corporations with extensive banking networks.

Learn more about Kyriba cash management >>

4. Coupa

Coupa offers a comprehensive suite of business spend management solutions, which includes integrated cash management tools. The platform provides businesses with valuable insights into spending patterns and helps organizations optimize cash flow by enabling better financial planning and budgeting. By connecting to various financial systems, Coupa streamlines financial processes, enhances cash visibility, and improves cash management.

Key features Pros Cons Best for
  • Visibility into cash and spending
  • Forecasting and budgeting.
  • Integration with various financial and ERP systems
  • Unified platform for cash and spend management.
  • Intuitive user interface.
  • Strong automation features.
May have limited functionality for specialized treasury tasks. Organizations looking to optimize spend management and improve cash flow visibility.

Learn more about Coupa cash management >>

5. HighRadius

HighRadius provides an advanced cash management solution designed to automate treasury and accounts receivable operations, reducing manual effort while increasing accuracy. It offers robust tools for cash forecasting, credit management, and collections. By leveraging intelligent automation, HighRadius optimizes financial processes, improves liquidity management, and enhances forecasting accuracy.

Key features Pros Cons Best for
  • Automated cash forecasting and receivables.
  • Credit management and collections tools.
  • Cash visibility and reporting.
  • Strong receivables management.
  • Real-time cash forecasting.
Focused more on accounts receivable, may not cover all treasury needs. Companies looking to automate receivables and improve cash flow visibility.

Learn more about HighRadius cash management >>

6. TIS

TIS (Treasury Intelligence Solutions) offers a cloud-based platform for managing global payments, cash flow, and liquidity, providing businesses with real-time visibility into cash positions across various markets. Its solution helps streamline payment processes, increase compliance, and ensure better liquidity management, empowering businesses to enhance transparency and financial control. Designed for both domestic and cross-border payments, TIS enables companies to optimize cash flow management and improve decision-making by offering a consolidated view of all financial data.

Key features Pros Cons Best for
  • Global payment processing and tracking.
  • Comprehensive bank connectivity.
  • Multi-currency support.
  • Strong global payment processing. Real-time cash visibility.
  • Compliance features.
Can be complex to set up, may require extensive training. Organizations with complex global payment needs and a focus on compliance.

Learn more about TIS cash management >>

7. Agicap

Agicap is a user-friendly cash flow management tool designed specifically for small and medium-sized businesses, providing real-time forecasting, budgeting, and scenario planning. Agicap allows business owners to quickly gain insights into their cash flow and make informed decisions to avoid potential financial challenges. 

Key features Pros Cons Best for
  • Cash flow monitoring and forecasting, tailored for SMEs.
  • Integration with accounting tools.
  • Automated scenario planning.
  • Intuitive and quick setup.
  • Ideal for small businesses.
Limited scalability for larger organizations. Small and medium-sized businesses needing straightforward cash flow management. 

Learn more about Agicap cash management >>

8. Serrala

Serrala provides a comprehensive suite of financial automation solutions, including tools for cash and liquidity management, payment processing, and financial risk management. Its solutions are designed to streamline cash forecasting and payment workflows, reduce operational risks, and enhance financial efficiency. By automating key financial processes, Serrala helps businesses improve cash flow visibility, ensure greater control over liquidity, and minimize exposure to financial risks.

Key features Pros Cons Best for
  • Cash forecasting and liquidity management
  • Payment processing and financial risk management
  • Payment and bank reconciliation.
  • Versatile platform.
  • Strong risk management tools.
  • May require significant customization for some industries.
Large enterprises looking for comprehensive financial automation and risk management

Learn more about Serrala cash management >>

9. Trovata

Trovata is a cash management platform that leverages open banking and advanced technology to provide businesses with real-time visibility into cash positions and robust forecasting tools. Trovata automates cash reporting, analysis, and decision-making, reducing manual processes. The platform allows businesses to optimize cash flow management, make more informed financial decisions, and improve liquidity forecasting with minimal intervention.

Key features Pros Cons Best for
  • Real-time forecasting.
  • Scenario modeling.
  • Integration with ERPs and banks.
  • Strong analytics capabilities.
  • Excellent integration options.
Limited treasury management tools. May require integration with multiple banking systems, can be complex. Businesses looking for advanced cash visibility and forecasting through open banking.

Learn more about Trovata cash management >>

10. CashAnalytics

CashAnalytics offers a cloud-based solution designed to enhance cash forecasting and liquidity planning, providing businesses with real-time insights into cash flow dynamics. Its tools for scenario planning, cash flow analysis, and financial reporting help businesses improve forecasting accuracy and make data-driven financial decisions.

Key features Pros Cons Best for
  • Detailed cash reporting.
  • Automated data collection from banks.
  • Simple to use.
  • Strong reporting capabilities.
Limited functionality beyond forecasting. Companies needing robust cash forecasting and liquidity planning tools.

Learn more about CashAnalytics cash management >>

Trends and drives of cash management solutions

As we’ve discussed, the top treasury priorities for cash management for the last half-a-decade (and for the foreseeable future) are:

  • Liquidity: Ensuring operational continuity, avoiding insolvency, maintaining stakeholder confidence.
  • Forecasting accuracy: Planning and allocating resources and anticipating potential challenges.
  • Risk management: Protecting business and working capital from uncertainties and losses

Why? Businesses today face numerous challenges. Think global supply chain disruptions, fluctuating market conditions, and regulatory pressures. Fraud is on the rise, not to mention general uncertainty. Financial stability is at risk, growth is difficult, the business environment more complex than ever. With increasing pressures to perform while working with stagnant resources no wonder treasury teams look for tools to optimize, automate and increase visibility and control. 

Liquidity optimization

Cash management solutions answer global challenges by focusing on optimizing liquidity because businesses need to strike a balance between having enough cash to meet obligations and minimizing excess cash that could be invested elsewhere.
Real-time visibility into cash positions helps businesses to make informed decisions quickly. If short-term liquidity needs or opportunities as they arise, the businesses need to be ready.
Efficiently allocating funds across operations ensures resources are used where they add the most value. Reducing idle cash frees up capital for investment or debt repayment, while matching inflows and outflows ensures liquidity is available when needed without over-committing resources to reserves.

Automated cash flow forecasting

Accurate forecasting helps businesses anticipate future cash requirements and avoid disruptions caused by unexpected shortfalls or surpluses. Manual cash flow forecasting typically involves spreadsheets and static data, and due to time-consuming processes produces errors and outdated insights. The result is limited visibility, that causes misaligned cash reserves, missed opportunities, or unnecessary borrowing. By improving forecasting, businesses can better plan to avoid shortfalls, minimize idle cash, and align inflows with outflows. This enables more strategic cash allocation, and allows them to stay up on critical questions like, “How much reserve is necessary?” and “Where can surplus funds be best used or invested?”

Process automation, harmonization, and visibility: Cash management solutions automate and harmonize workflows across departments and regions, ensuring accurate and readily available cash flow data. They help answer questions like, “How do we reconcile different accounts?” and “Where is cash being held in the business?”

Cash centralization and capital structure optimization

Cash management centralization helps optimize the capital structure by enabling more efficient cash deployment and improved management of working capital and overall liquidity across the business. Cash management solutions make it easier to move funds between accounts. This answers questions such as, “How can we consolidate cash from multiple regions?” and “How can we reduce interest expenses or optimize working capital?”

Risk Management and fraud prevention

Cash management solutions help businesses manage financial risks by offering tools for monitoring and mitigating potential fraud. They provide better control over cash flow, enable faster identification of discrepancies, and allow businesses to enforce stronger internal controls, reducing the risk of fraud and improving overall financial security, answering questions such as, “Is our cash flow being monitored for irregularities?” and “How do we prevent unauthorized transactions?”

How to choose and implement the right cash management solution?

Step 1: Assess current situation and immediate needs

  • Evaluate cash visibility: Start by understanding your current cash position across all accounts and locations. Are you able to get a clear view of your liquidity in real time?
  • Review bank connections: Take inventory of your banking relationships and understand how well your current systems are integrated with them. Are you manually pulling bank data, or do you have connections for seamless updates?
  • Identify system gaps: Look at your current processes for cash forecasting, payments, and reconciliation. Are there manual processes creating inefficiencies? What’s not working, or where are you getting stuck?

Step 2: Begin small and select core tools

  • Start with a scalable solution: Choose a solution that fits your current needs but can scale as your business grows. Focus on foundational capabilities such as cash visibility, simple bank integrations, and payment centralization.
  • Vendor selection: Ensure the vendor has experience not only in the implementation phase but also in providing ongoing support as your business evolves. A strong track record of working with companies of your size and complexity is essential.
  • Prioritize basic automation: Begin with automating repetitive tasks like payment reconciliation or cash flow forecasting. Once you’ve that under way, it’s easier to expand and increase automation.

Step 3: Focus on payment centralization

  • Centralize Payments: Consolidate payment processes into one system to gain control over cash outflows. Choose a solution that can aggregate payments from multiple departments or regions into one central system.
  • Evaluate bank connectivity: Add integrations with key banking partners to enable direct communication and real-time transaction tracking.
  • Vendor expertise: As your processes centralize, it’s important to have a vendor who can support you during this transition and help address issues specific to payment flows and banking partnerships.

Step 4: Expand system usage by adding subsidiaries and regions

  • Roll out to subsidiaries: Once your core solution is working well, expand the system to include subsidiaries, starting with the ones that have the most complex cash flows or the highest transaction volumes.
  • Bank and system integration: As you bring on new subsidiaries, continue to integrate banks and financial systems that are specific to each region or subsidiary’s needs. This ensures visibility across all entities without duplicating effort.
  • Harmonize processes: Gradually automate and harmonize processes across subsidiaries. For example, standardize reporting and cash forecasting to ensure consistency across the organization.

Step 5: Automate and optimize processes for increased efficiency

  • Increase automation: As you gain experience with the system, add more automation. For example, automate cash forecasting, approvals, and reconciliation.
  • Harmonize data: Start connecting data from across the organization to create a more consistent and unified cash management process. This will help streamline decision-making and improve the accuracy of cash flow forecasting.
  • Continuous vendor support: Ensure your vendor has the capacity to help with system adjustments as your needs evolve. For example, as new financial systems or bank connections are added, the vendor should be able to support these changes efficiently.

Step 6: Plan for complexity growth

  • Prepare for mergers & acquisitions: When merging or acquiring businesses, expect systems to become fragmented. It’s essential that your cash management solution can handle new integrations quickly and maintain consistency in data visibility and processes.
  • Scalability considerations: Keep scalability in mind as your business grows, especially if you’re expanding globally or adding new financial systems. A flexible solution that can easily accommodate these changes without significant disruptions is key.
  • Monitor emerging needs: As your business grows in complexity, your cash management needs will change. Regularly assess where you’re encountering new challenges or inefficiencies. Choose a vendor who can offer long-term support and can evolve the system to meet these emerging needs.

Step 7: Continuous improvement and vendor relationship

  • Ongoing vendor engagement: Build a relationship with your vendor beyond the implementation phase. They should provide ongoing support, including updates on new features, system optimizations, and advice on how to better manage your growing cash management needs.
  • Adapt to changing demands: As your cash management processes increase in complexity, work with your vendor to fine-tune your system. Whether adding new capabilities or refining existing features, ongoing collaboration ensures your solution stays aligned with your business objectives.

Best cash management solution for you – from Nomentia

Choosing the right cash management solution provider is essential for optimizing liquidity, streamlining processes, and mitigating financial risks. With Nomentia's innovative tools and expert guidance, businesses can achieve real-time visibility, enhance forecasting accuracy, and centralize cash operations across regions.

Our solutions are designed to help you efficiently allocate funds, minimize idle cash, and maintain full control over your financial ecosystem. Whether you’re looking to simplify workflows, consolidate accounts, or strengthen risk management, Nomentia is here to support you. Contact our experts today to discover how we can tailor our solutions to meet your unique cash management needs.

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