Polski
Cash management in banks and other organizations in the financial industry is a significant challenge. Therefore, the development of financial software in this area is very important for the smooth operation of these institutions. The research center Forrester studied this market in Q4 2023, naming Ailleron one of the 5 global cash management software providers (in the providers’ sector with $10 million to $100 million in annual revenue).
The role of cash management software in the world of corporations
Cash management software in financial organizations, in addition to the classic handling of the avalanche of bills, supports other equally crucial processes. We’re referring here to liquidity management and access to data through various channels (including directly from the bank’s financial and accounting systems), as well as determining financial position (how much money we have in different banks and companies, and often in various countries).
To keep up with the dynamic financial industry, providers of technological services and solutions that support the management of these processes must ensure that their software is aligned with the latest trends or regulations and implement appropriate safeguards. But how to choose among vendors that differ in size, specialization, geographic targeting and experience from their implementations?
Forrester’s report “The Cash Management Solution Landscape, Q4 2023” by Pushpa Marwal is one of the best resources to help digital banking leaders choose the best partner. They will find interesting data on what they can expect from software providers based on the potential of their business and targeting a specific market or technology solution.
Cash Management in corporate banking is the main area, but is it the only one?
With the wealth of products and services offered within corporate banking, up to 80% of corporate clients’ activity is still focused precisely on Cash Management. Thus, this is a strategic area that, when managed efficiently, gives an unquestionable competitive advantage in the financial industry.
The Forrester report assesses the global Cash Management landscape as a mature market with well-established services and providers. However, the needs of digitally mature banking customers are growing, and they expect real-time aggregated data.
How do we meet these challenges? Banks and other financial organizations must implement new technologies in express mode and move away from old, siloed solutions. Of course, they can’t forget about compliance with changing regulations. One of the biggest changes facing banks is standardization, open-banking and ISO20022 compliance. Cloud technologies and the incorporation of AI are other tests but also opportunities for modern banks and the financial industry.
Solutions for corporate banking from Ailleron
Ailleron offers solutions for corporate clients based on microservices architecture. This allows the entire solution or its components to be integrated into the bank’s infrastructure. Ailleron’s answer to the need for standardization and ISO20022 is a host-to-host service that offers customers access to banking services directly from their financial and accounting systems, taking care to secure the data that is exchanged with the bank. Ailleron experts can also implement a dedicated system in the cloud, private, public, or hybrid.
The functions indicated below are priorities for Ailleron and are developing the fastest.
- Personalization mechanisms, also based on AI
- Data security with microservices and scalable architecture
- DevOps processes and tools supported by numerous certified experts.
In addition, Forrester’s report places Ailleron as a vendor strongly supporting the 3 most essential areas in cash management:
- dashboards and reporting,
- cash forecasting and positioning,
- systems integration.
Forrester also recognizes the specificity of the services and solutions Ailleron provides to its business partners:
- aggregated financial insights to plan and manage liquidity with real-time notifications,
- efficient delivery of customizable reports,
- attention to the compliance of Ailleron’s technology solutions with regulations within EMEA and APAC,
- specialization in integration with banking systems, which is necessary to acquire the data that Ailleron manages as a cash management software provider.
Want to know the details?
Download the full report on Forrester’s website: The Cash Management Solution Landscape, Q4 2023 | Forrester
The consultant who contributed to the report on the Ailleron side is Krzysztof Tobiasz, Business & Product Development Manager. He is also a co-author of this article. Contact him directly if this topic interests you.
