BETHESDA, Md., April 19, 2016 /PRNewswire/ -- Resource-starved treasury groups are leveraging their knowledge and ingenuity to get more out of their treasury management systems, according to new research by the Association for Financial Professionals.
In a survey of 354 treasury professionals, the 2016 AFP Treasury Management Systems Survey, underwritten by Bloomberg, found that more than three-quarters of respondents have been using the same TMS for at least three years. More than a third (35 percent) say their TMS has been in use for 3-5 years, and fully 27 percent say their TMS has been deployed at least 8 years.
For more information regarding the survey results please visit http://www.afponline.org/TMSsurvey/. For any media questions or for copy of full report (press only or AFP members), please contact Melissa Rawak at [email protected].
Additional Key Takeaways:
- 51 percent of survey respondents report that their organizations use a TMS.
- 53 percent report that their organizations use installed systems.
- Respondents consider their TMS most effective in cash visibility and transaction capturing.
- Forty-two percent of organizations are interfacing their TMS with SWIFT.
Despite the longevity, treasury professionals make efforts to ensure that their organizations use the most recent version of their TMS. Fully 54 percent that use a TMS deploy the most recent version while 33 percent use systems that are one to two iterations behind the current version.
These numbers suggest organizations are happy with their TMS providers. In fact, survey respondents indicate their organizations' TMS are "good" or "very good" in producing desired results. Features of TMS that are considered beneficial include improving cash visibility and process control and compliance (each cited by 64 percent of survey respondents).
"All departments have to make do with less these days, and treasury groups are no exception. It's good to see that treasury professionals are getting the most out of their TMS—and, in doing so, providing excellent cash visibility and improved decision-making for management," said Jim Kaitz, president and CEO of AFP.
"Bloomberg is committed to ensuring all treasury groups, regardless of size, have access to the benefits and efficiencies of a TMS platform. We are pleased to see the continued growth of treasury management systems and that their value is being recognized as stated in this survey," said Bruce Manson, Head of Bloomberg Treasury and Risk Management.
Headquartered outside Washington, D.C., the Association for Financial Professionals (AFP) is the professional society that represents finance executives globally. AFP established and administers the Certified Treasury Professional and Certified Corporate FP&A Professional credentials, which set standards of excellence in finance. The quarterly AFP Corporate Cash Indicators serve as a bellwether of economic growth. The AFP Annual Conference is the largest networking event for corporate finance professionals in the world.
CONTACT: Melissa Rawak, 301-961-8628, [email protected]
SOURCE Association for Financial Professionals