A treasury management system gives your finance team one place to see cash, run payments and track financial risk. Without one, that work happens across bank portals and spreadsheets.
Most mid-sized companies start looking when the manual process stops keeping up. The cash position takes hours to build, forecasts miss, and payments pass through too many hands.
The buying process often goes wrong as well. Companies get a price quote before they’ve defined what they need, and the business case rests on vendor claims the board won’t accept.
At FINMETRIX, we run a treasury management system project differently. Our liquidity and treasury solutions team first maps how cash and payments move through your company, then builds the cost estimate, business case and deployment plan around it. We’re certified Kyriba experts, and because we also manage currency, interest rate and commodity risk, we connect the platform to your hedging and accounting.
This guide covers what a treasury management system does, what it costs, how to build the business case and how FINMETRIX takes a project to go-live.
FINMETRIX has helped companies manage financial risk since 2014. We’re an independent derivatives portfolio manager regulated by the AMF, with headquarters in Montréal and an office in Toronto.
Why Do Finance Teams Outgrow Spreadsheets Before They Call FINMETRIX?
Most of the companies we speak with didn’t set out to buy a treasury management system. They got there because the manual process stopped scaling. These are the problems we see most often.
Nobody can see the full cash position in real time. Balances sit across several banks, currencies and entities. By the time someone consolidates them, the numbers are hours or days old, so decisions about borrowing, investing or paying suppliers are made on stale data. Companies end up drawing on a credit line in one entity while cash sits idle in another.
Payments run through too many hands. Invoices are approved in the ERP, keyed again into a bank portal, then approved a second time by someone with a security token. Every manual step is a chance for a typo, a duplicate or a fraudulent change to a supplier’s banking details. A spreadsheet has no audit trail worth the name.
Cash forecasts don’t hold up. A forecast built by emailing department heads for their numbers is slow to assemble and hard to reconcile against actuals. Without forecast-versus-actual variance analysis, the treasury team can’t tell whether a miss came from sales, procurement timing or a customer paying late.
Financial risk stays invisible until it hurts. When FX exposures, debt maturities and hedges live in separate files, the CFO can’t see the net position. A company can believe it’s naturally hedged in USD when it’s in fact a net buyer, and only find out when the tariff escalation with the United States moves the Canadian dollar.
Controls depend on one person. When the treasury process lives in one analyst’s workbook, a vacation or a resignation becomes an operational risk. Auditors notice. So do lenders.
A treasury management system addresses every one of these problems, but only if it’s selected, priced and deployed around the company’s real processes. That’s where most projects succeed or fail.
What Does a Treasury Management System Do, and How Does FINMETRIX Put It to Work?
A treasury management system is software that brings cash, payments, forecasting and financial risk data into one controlled environment. Kyriba, the cloud platform our team deploys, does this through direct connections to your banks and your ERP.
In practice, a well-deployed platform covers four areas, and FINMETRIX configures each one around how your finance team works.
Cash visibility across every bank and entity. The platform pulls balances and transactions automatically through bank connectivity and open APIs, so the morning cash position builds itself. We design the account structure, entity hierarchy and reporting views so your CFO sees consolidated cash by currency, entity and bank without opening a spreadsheet.
A central payment hub. Payments flow from the ERP into the treasury management system, through approval workflows and out to the banks on modern payment rails. FINMETRIX sets up the workflows, the segregation of duties and the fraud controls. Where it makes sense, we add virtual accounts that simplify how cash is collected and allocated.
Cash forecasting that learns from its misses. Forecast data comes in from multiple sources and is reconciled against actuals automatically. We build the forecast model and the variance analysis so your team can see which line items drift and why.
Financial risk integration. This is where FINMETRIX differs most from a pure software integrator. The treasury management system can hold your FX exposures, debt, investments and hedges, along with derivative valuations and hedge accounting data. Because we manage financial risk for clients every day, we configure that module around how hedging decisions are actually made and reported.
What Does a Treasury Management System Cost, and How Does FINMETRIX Estimate It?
Most content on treasury management system cost quote a price range and move on. That number is rarely useful, because what you’ll pay depends on the scope you define, and most companies haven’t defined it when they first ask.
FINMETRIX builds the estimate from the components that actually drive treasury management system cost:
| Cost component | What drives it |
| Subscription | Number of entities, bank accounts, users and modules (cash, payments, forecasting, risk) |
| Implementation | Banks and ERPs to connect, payment workflows, data migration, and the depth of forecasting and risk set-up |
| Bank connectivity | The connection method used with each bank (API, host-to-host or SWIFT) and any bank-side fees |
| ERP integration | Number of ERP instances, quality of vendor and customer data, and how entries flow back to accounting |
| Internal time | Hours your finance and IT staff spend on design workshops, testing and training |
| After go-live | Hypercare, optimization, and new banks or entities added over time |
The subscription is rarely the biggest surprise. Licence pricing is visible early. The surprises come from integration: an ERP with inconsistent supplier master data, a bank that needs a specific file format, or payment approval rules nobody ever wrote down. We surface those during diagnosis, before they turn into change orders.
Internal time is a real cost. Your controller and treasury analyst will spend meaningful hours in design workshops and user testing. A credible estimate counts that time. We plan the work around your month-end close.
Scope creep is the most expensive line. Projects that try to deploy every module at once tend to run long and over budget. FINMETRIX usually recommends phasing the rollout: cash visibility and payments first, where control and time savings show up fastest, then forecasting and risk integration.
Doing nothing has a price too. The real comparison isn’t treasury management system cost against zero. It’s against the staff hours, idle cash, borrowing costs, bank fees and fraud exposure your current process already carries. That comparison is where the business case begins.
We don’t publish a standard price, because two companies with similar revenue can have very different bank and ERP footprints. A first conversation will tell you which components drive your number.
How Does FINMETRIX Build a Treasury Management System Business Case Your Board Will Approve?
A treasury management system business case fails when it’s built on vendor brochures. Boards and audit committees want the company’s own numbers, a realistic cost and a clear account of what changes after launch. FINMETRIX builds the case in that order.
We quantify what the current process costs. We measure the time your team spends on cash positioning, bank reconciliation, payment preparation and forecasting, then price it at loaded labour cost. As an illustrative example, a team spending 15 hours a week on manual bank reporting at a loaded rate of $75 an hour carries about $58,500 a year in effort on that task alone.
We count the cash you can’t see. Idle balances spread across entities and banks often sit alongside credit line draws somewhere else in the group. As another illustrative example, $5 million of trapped cash that could have paid down a credit line drawn at 6% costs the company roughly $300,000 a year in interest.
We put a value on risk reduction. Fraud controls, segregation of duties and a full audit trail reduce exposure to payment fraud and control failures. Those benefits are real but harder to price precisely, so we present them separately from hard savings and let the board weigh them on their own terms.
We include the decisions that get better. When FX exposures and cash forecasts sit in one system, hedging decisions rest on real data rather than quarter-end estimates. For companies that also hedge, this is often the strongest argument in the case.
We model treasury management system ROI over a realistic horizon. Year one carries the implementation cost and a learning curve. We show treasury management system ROI across several years, with conservative and base scenarios, so the board isn’t approving a payback date nobody can defend.
The finished treasury management system business case reads in the CFO’s language: cost, payback, control improvements and risk, with every assumption stated plainly so your auditors and lenders can follow it.
How Does FINMETRIX Take a Treasury Management System From Requirements to Go-Live?
Our process follows the same logic as the FINMETRIX 4-step methodology: understand first, design second, execute third, then measure and adjust.
Step 1: Diagnosis of Your Treasury, Banks and Cash Flows
We map your bank accounts, entities, ERP instances, payment types, approval chains and existing reports. We also look at where FX, interest rate and commodity exposures enter your cash flows, because a treasury management system that ignores them leaves the CFO with only half the picture. The output is a clear statement of where you are today, what’s causing the most friction and what to fix first.
Step 2: Policy & Strategy for Your Treasury Management System
This is where requirements, the business case and platform fit come together. Many companies start from a TMS RFP template downloaded online. The trouble with a generic TMS RFP template is that it asks every vendor the same long list of questions and tells you very little about which answers matter for your business.
FINMETRIX writes requirements around your actual processes: which banks must connect on day one, which payment workflows need dual approval, and what the forecast has to show the board. We’re open about our position. We’re certified Kyriba experts, so when Kyriba fits your requirements, we’ll tell you and explain why. We also define the treasury policies the platform will enforce, such as payment approval limits and cash concentration rules.
Step 3: Execution, From Kyriba Configuration to Go-Live
Our certified Kyriba experts handle the deployment: bank connectivity, ERP integration, open APIs, payment workflows, forecasting models and user access. We test with your real data and real payment scenarios before anything goes live.
Step 4: Monitoring & Performance After Launch
Our work continues after go-live. We provide hypercare support through the first live cycles, then post-implementation optimization: adding banks or entities, refining forecasts, tightening controls and tracking the results the business case promised. If the numbers drift, we adjust the set-up.
What Makes FINMETRIX Different From Other Treasury Management System Partners?
We’re a financial risk firm that implements treasury technology. Most implementation partners know the software. FINMETRIX also manages currency, interest rate and commodity exposures for clients, so we understand what the risk module is for, what a hedging policy needs from your cash forecast, and what auditors will ask about your derivatives. That combination is unusual in treasury technology.
Certified Kyriba expertise on our own team. Our Treasury and Liquidity Solutions group holds Kyriba certification and works on deployment, optimization and hypercare.
Independent advice on the risk side. FINMETRIX is an independent derivatives portfolio manager regulated by the AMF, and our representatives don’t receive commissions based on client transactions. When your new platform reveals an exposure, our advice on whether and how to hedge it is driven by your policy and risk tolerance.
Treasury, risk and reporting under one roof. Finance, risk, accounting and trading expertise sit together at FINMETRIX. The team that deploys your platform works alongside the team that values your derivatives and supports your hedge accounting, so data moves from cash position to hedge to financial statements without being rebuilt in separate spreadsheets.
A strategic extension of your finance team. We work alongside your controller and treasurer. Mid-sized companies rarely need a full-time treasury technology specialist. They need the right expertise at selection, deployment and optimization, and someone to call when the business changes.
Bilingual and cross-border by default. Our team of 8 nationalities speaks 7+ languages, works in English and French, and supports clients on 5 continents.
Which Industries Does FINMETRIX Support With Treasury Management System Projects?
FINMETRIX works with mid-sized and large companies whose cash flows are shaped by currencies, interest rates or commodity prices. A treasury management system has to be configured around each sector’s cash cycle.
Energy. Energy producers and heavy energy users face large, uneven payments tied to market prices. Cash forecasting has to reflect those swings, and the platform needs to hold the hedges that offset them.
Distribution. Importers and distributors pay suppliers in USD or EUR and collect in CAD. Knowing the net currency exposure by settlement date matters as much as knowing the cash balance.
Metals. Metal prices change working capital needs quickly, as copper’s tight supply and low inventories showed earlier this year. Forecasts need to capture price-driven changes in purchases and receivables.
Agriculture and agribusiness. Seasonal purchasing and harvest cycles create cash peaks and troughs that spreadsheets struggle to model with any accuracy.
Manufacturing. Multiple plants, suppliers and currencies mean many payment flows and approval chains. A central payment hub and consistent controls carry real weight here.
Land and maritime transport. Fuel and freight costs move fast, as higher shipping risks and rising energy prices showed in July. Treasury needs a daily view of cash against those commitments.
Services. Firms that bid on foreign-currency contracts need to see expected receipts by currency from the bid stage onward, so cash forecasts and FX exposure stay aligned.
What Else Does FINMETRIX Offer Beyond Treasury Technology?
A treasury management system shows you the exposure. Deciding what to do about it comes next, and FINMETRIX covers that as well.
Financial Risk Management. Our financial risk management service identifies and quantifies your currency, interest rate and commodity exposures, builds a formal hedging policy and oversees execution through your existing banks. Clean data from your treasury platform makes that work faster and more precise.
Valuation & Hedge Accounting. Hedges have accounting consequences. Our valuation and hedge accounting team provides independent derivative valuations, hedge documentation, effectiveness testing and audit support under whichever standard you report on, whether IFRS, ASPE or US GAAP. The goal is financial statements that reflect the economics of your hedges rather than artificial P&L swings.
Treasury Management System With FINMETRIX: FAQs
What does FINMETRIX do on a treasury management system project?
We cover the full project: diagnosis of your current treasury process, requirements, cost estimate, business case, Kyriba deployment, hypercare and ongoing optimization. Our certified Kyriba experts handle bank connectivity, ERP integration, payment workflows and forecasting. Because FINMETRIX also manages financial risk, we connect the platform to your hedging and hedge accounting needs.
How does FINMETRIX estimate treasury management system cost?
We build the estimate from your own footprint: number of banks, entities, ERP instances, users, payment types and modules. We also count internal staff time and post-launch support, which many quotes leave out. We don’t publish a standard price because scope varies widely, but a first consultation will show you what drives your number.
Can FINMETRIX help us build a treasury management system business case for our board?
Yes. We quantify what your current process costs, estimate savings and control improvements, and model treasury management system ROI under conservative and base scenarios. Every assumption is stated plainly so your board, auditors and lenders can follow it.
Does FINMETRIX provide a TMS RFP template?
We build requirements with you instead of handing over a generic document. A downloaded TMS RFP template treats every company the same way, while ours reflects your banks, ERP, payment controls and reporting needs. Because we’re certified Kyriba experts, we’re transparent about that when we assess platform fit.
Does FINMETRIX only work with Kyriba?
FINMETRIX isn’t a software vendor. Kyriba is the platform our treasury team is certified on, and it’s where our deployment and optimization work is focused. If you already use Kyriba, we can review and optimize your existing set-up. If you run a different system, a short conversation will tell us both whether FINMETRIX is the right fit.
How does a treasury management system connect to FINMETRIX’s hedging work?
The platform can hold your FX, interest rate and commodity exposures alongside your hedges and derivative valuations. FINMETRIX uses that data to inform the hedging policy and execution we manage for clients, and our valuation team uses it for hedge documentation and audit support. One data set feeds all three services.
Is FINMETRIX independent, and how is it regulated?
Yes. FINMETRIX is an independent derivatives portfolio manager regulated by the Autorité des marchés financiers (AMF) in Québec. Our representatives don’t receive commissions based on client transactions, so our advice stays on your side of the table.
What size of company does FINMETRIX work with?
We work with mid-sized and large companies, including SMEs and family businesses that have outgrown spreadsheets. Complexity matters more than revenue: several banks, entities or currencies usually signal that a treasury platform is worth evaluating.
Does FINMETRIX work outside Québec and Ontario, and in French?
Yes. We work in English and French from our offices in Montréal and Toronto, and we support clients on 5 continents.
How do we get started with FINMETRIX?
Book a free consultation through our contact page or call 1-877-310-3504. We’ll respond within one business day and start by understanding how your treasury runs today.
Your Treasury Management System With FINMETRIX
Spreadsheets and bank portals take a growing company surprisingly far. Then a new entity, a new currency or a payment fraud attempt shows exactly where they stop. A treasury management system fixes that, but only when it’s priced honestly, justified with your own numbers and deployed around how your business actually runs.
FINMETRIX brings that discipline. A cost estimate that counts integration and internal time. A business case your board can audit. Certified Kyriba deployment and hypercare. And a risk team that knows what to do with the exposures your new platform reveals.
This article is for general information only and does not constitute financial, accounting or investment advice. Every company’s exposures are different. Contact FINMETRIX to discuss your situation.