target audience: TECH BUYER Publication date: Sep 2024 - Document type: IDC MarketScape - Doc Document number: # US49434723
IDC MarketScape: Worldwide Cash Management Systems 2024 Vendor Assessment
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Abstract
This IDC MarketScape presents the 2024 assessment of eight vendors that provide cash management solutions to the corporate banking sector. It is a quantitative and qualitative assessment of different solutions' features, along with other characteristics that define these vendors' ability to support cash management activities and integration with adjacent liquidity and treasury activities as well as with payment systems. Attention has been paid to the adoption of innovative technologies such as AI, ML, and predictive analytics. Cloud readiness and API availability to facilitate interactions with the ecosystem were also considered. This evaluation also considers features that support risk management and compliance requirements as well as the vendor's ability to address emerging needs in a real-time payment perspective and a fast-evolving market, where real-time visibility and accurate and reliable cash forecasting are becoming more relevant. This IDC MarketScape is based on a standardized and comprehensive framework and a set of parameters identified as most conducive to success in providing cash management services.
"In times of uncertainty and given the transformation toward real-time banking, corporates must be in control of their cash positions, reduce reconciliation costs, and optimize cash usage. Corporate banks can offer their customers modern cash management services, with enhanced cash forecasting accuracy, by also leveraging AI and functionality-rich virtual accounts, thereby improving their corporate customers' liquidity and working capital management," said Maria Adele Di Comite, research director, IDC Financial Insights.