We believe the recognition of SAP as a Leader in the IDC MarketScape: Worldwide SaaS and Cloud-Enabled Enterprise Treasury and Risk Management Applications 2023 Vendor Assessment is more than an acknowledgment of technology strategies and capabilities. It’s a testament to an integrated solution portfolio that runs end-to-end business processes.
Finance leaders worldwide have witnessed dramatic changes in their operations over the last few years – ranging from unforeseen vulnerabilities and stricter regulations to wide swings in market volatility. In response to those experiences, most of them have intensified their focus on digitalizing their treasury and risk management practices to protect their company’s liquidity and cash management position.
The IDC MarketScape worldwide assessment of software-as-a-service (SaaS) and cloud-enabled enterprise treasury and risk management applications vendors notes the rising interest in treasury and risk management solutions. According to the report, “Treasury management solutions are finding themselves in the spotlight. Common features of treasury management systems include liquidity and cash management, proving them invaluable to businesses struggling to maintain an accurate picture of their cash flow and current liquidity ratios.”
But the IDC MarketScape also forewarns that “while these features are extremely useful, they can fall under scrutiny if not updated and streamlined according to the current needs of users.”
Build Confidence with Continuous Innovation in the Cloud
Finance organizations have hundreds of treasury and risk management solutions to consider. However, according to the IDC MarketScape, the right investments circulate data originating from treasury operations across all finance areas and outside them to investors, lenders, government agencies, banking and financing partners, suppliers, and customers.
Cloud technologies – like those from the SAP solution portfolio – are proving to be real difference makers in achieving this goal for companies willing to adopt them.
The IDC MarketScape report recognized SAP as a Leader among SaaS and cloud-enabled enterprise treasury and risk management applications. The report noted that companies should consider SAP “if you are looking for a well-established vendor with a platform with extensive integration and all-in-one capabilities.”
SAP solutions help deliver a unified platform for end-to-end business processes with a broad portfolio – which includes treasury management, enterprise resource planning (ERP), customer relationship management, supply chain management, and business intelligence – to manage cash, risk, and treasury-related transactions. And this ecosystem can be further integrated and extended through SAP Business Technology Platform (SAP BTP) and supported by the SAP Analytics Cloud solution and SAP Business Network.
“The solution provides organizations with a centralized platform for managing their financial transactions and cash positions and helping optimize cash flow, reduce risk, and improve financial decision-making,” the report states.
As a result, SAP customers worldwide are benefiting from two critical strengths when using our treasury and risk management technologies in either a public or private cloud environment:
- A single source of truth based on streamlined processes and enterprise-wide integration of transactional and master data
- Smoother access to cash-flow sources to help optimize working capital requirements and processes more effectively
For example, JetBlue Airways Corp. leverages these advantages to automate its treasury function and gain a real-time view of its cash management position across 27 countries. This approach allows the airline to use straight-through processing, upload bank statements automatically, and eliminate the need for manual intervention.
Now that 85% of the transactions in its main general operating account are automated, JetBlue no longer needs to access individual banking portals to oversee cash management. Instead, it has a central repository of all bank account details.
Transform the Treasury to Drive Financial Resilience
As finance leaders face an ever-evolving landscape of vulnerabilities, regulatory tightening, and market volatility, the urgency to digitalize treasury and risk management practices will continue to grow. And as evidenced in the 2023 IDC MarketScape report, this growing interest emphasizes the value placed on liquidity and cash management for cash-flow accuracy.
By providing a unified platform, we believe finance organizations have the end-to-end processes and real-time insights they need to optimize cash flow, reduce risk, and enhance decision-making.
To learn more, download a complimentary excerpt of the IDC MarketScape: Worldwide SaaS and Cloud-Enabled Enterprise Treasury and Risk Management Applications 2023 Vendor Assessment.
Ido Shamgar is senior director of Cloud ERP Product Marketing at SAP.
