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Treasury management software. ¿What is it and what is it for?


Treasury management is currently one of the most important areas of corporate finance. For a long time, treasury management has taken a secondary role, but this has changed especially in the wake of the pandemic. At that time, treasury management became a crucial function to keep many businesses alive.

Treasury software has not existed for many years, mainly due to the difficulty of connecting to bank information, the previous European regulations that granted company information to banks, and the existing outdated infrastructure. The few that existed were also affordable only by large companies since the tedious implementation processes and their cost were exorbitant. Today however this is changing. Technology is evolving, banks are opening their information via API due to the obligation of the PSD2 regulation in Europe, for example. (Read about PSD2 in our article here). And these platforms are becoming more affordable both in terms of time and cost.

Now, what is treasury management software? What is it for? If this topic is of interest to you. Please continue reading, this article is made especially for you.

What is a treasury management software?

Treasury management software, as its name suggests, is a software program focused on financial tasks in the treasury field. It could be defined as the equivalent to the accounting or ERP software or system of companies, but more focused on the field of banks, cash management, treasury forecasting, etc. Just as a reminder, an ERP system or accounting system is software used to keep company accounts, record accounting entries, and produce financial statements. The treasury software would be the sister software, that is, the one that is in charge of all the banking, payment, collection, and cash management issues.

What is a treasury management software for?

  • Bank connectivity: the treasury management software allows you to connect all your banks from one place, centralizing the management
  • Cash management or cash monitoring: This type of software allows visibility of the cash movements of different banks, and facilitates their monitoring through alerts.
  • Execution of payments and collections: This functionality is very rare since no platform except Snab offers it. Snab allows you to execute payments from Snab without the need to leave the platform.
  • Currency management: Treasury platforms allow by connecting the banks, to have an integrated vision of the banks and the main currencies.
  • Treasury forecast: Treasury software allows you to have a vision and forecast of future cash movements.

Who uses a treasury management software

Who is the user of a treasury management platform? The world of treasury belongs mainly to the field of finance. It is generally a space to which part of the financial teams are dedicated. From the financial director or CFO, the treasurer, and the administration and accounting people. In small companies, even the founders or owners of the company usually also cover part of these tasks.

It will depend on the size of the company, and the division of tasks in the financial team. But, ultimately, it is the people mentioned above who will use treasury management software to carry out bank consolidation tasks, payment and collection management, and treasury forecasts, among others.

Main treasury management software in Spain

Currently, the main treasury management software in the Spanish market is Snab.

Snab is a Spanish treasury management company that was born from the Y Combinator accelerator, the most prestigious accelerator in the world located in San Francisco, where companies such as Airbnb, Coinbase, Dropbox, Twitch among others were born. The company has extensive experience growing Snab out of the founders’ personal experience in the treasury arena, and after seeing a number of inefficiencies, they decided to set up Snab.

Snab’s main advantage

Snab, as the pioneer and main treasury software in Spain, provides each and every one of the tools mentioned above. However, its main advantage is that it is the first platform that also makes payments. In other words, Snab allows you to receive invoices or synchronize them from the ERP and through its pioneering technology this platform allows you to pay those invoices in a few clicks, and without leaving the platform.

Snab as a treasury tool that allows monitoring the liquidity and treasury operations

Snab is a pioneer treasury cloud platform in Europe that helps precisely in each and every one of the functions and tasks related to treasury management and monitoring of the company’s cash position. Snab serves first of all as a bank aggregation platform, allowing companies to access all their bank accounts in different banks and in different countries from a single place and with absolute independence, so that the financial team can consult their cash position and thus obtain part of the information necessary to calculate current assets. Snab also serves as a billing tool, that is, invoice receipt, scanning, and automatic registration of invoices. In addition, it is a payment and collection management tool, providing total control and visibility of accounts payable and receivable, since the platform has innovative technology that allows you to pay and collect invoices in one click, without having to leave the platform. This makes it possible to monitor the status in real time of all the company’s payments and collections, when calculating the ratio. Furthermore, Snab not only shows you alerts and helps you monitor the status of payments and collections, but also generates real-time treasury forecasts based on both historical and future information.

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