US financial professionals holding onto their TMS
Three quarters of US finance professionals polled in a recent survey say they have had the same system for at least three years.
Three quarters of US finance professionals polled in a recent survey say they have had the same system for at least three years.
US finance professionals appear to be happy with the treasury management systems (TMSs) they have in place, with three quarters (77%) of those polled in a recent survey reporting they have had the same system for at least three years. More than a third (35%) of those polled say they’ve held onto their systems for three to five years while 27% claim to have had the same TMS for at least eight years.
The survey by the Association for Financial Professionals (AFP), underwritten by Bloomberg, suggests that squeezed treasury departments are “using their ingenuity” to get more out of their existing systems. While treasury departments are holding onto their TMS, however, more than half say they make sure they’re using the most up-to-date system. A third say they are using systems one or two iterations behind the latest version.
Other key takeaways are that of those surveyed, 51% say their organisations use a TMS and 53% say their organisations are using installed systems. Cash visibility and transaction capturing is what those responding to the survey identify as the most effective part of their TMS. Some 42% of organisations say they are interfacing their TMS with SWIFT.
“Bloomberg is committed to ensuring all treasury groups, regardless of size, have access to the benefits and efficiencies of a TMS platform,” says Bruce Manson, head of Bloomberg treasury and risk management. “We are pleased to see the continued growth of treasury management systems and that their value is being recognized as stated in this survey.”