Treasury Management Systems
16 TMS compared by how they connect to banks and to the ERP
A treasury management system (TMS) gives a company's treasury team one view of cash across all its banks, a forecast, and one place to pay from. It needs two connections: to every bank, for balances, statements and payments, and to the ERP, for payables, receivables and the ledger. This directory compares 16 systems on both, from what each vendor states publicly.
16 of 16 systems, sorted by banks named for API connectivity
- GTreasury (Ripple Treasury)Bank APIsSWIFTNetSuite · SAP · Dynamics 365 · Oracle · Workday · Infor21 banks by API
- EmbatBank APIsSWIFTHost-to-hostEBICSSFTP / filesOpen bankingNetSuite · SAP · Dynamics 365 · Oracle · Workday · Sage · Odoo · DATEV7 banks by API
- KyribaBank APIsSWIFTEBICSSFTP / filesNetSuite · SAP · Dynamics 365 · Oracle · Workday3 banks by API
- TrovataBank APIsSWIFTSFTP / filesNetSuite · SAP · Oracle · Workday3 banks by API
- NomentiaBank APIsSWIFTHost-to-hostEBICSSFTP / filesNetSuite · SAP · Dynamics 365 · Oracle · Sage2 banks by API
- SerralaBank APIsSWIFTHost-to-hostEBICSSFTP / filesNetSuite · SAP · Dynamics 365 · Sage · Infor · IFS1 bank by API
- ION TreasuryBank APIsSWIFTHost-to-hostNo ERP named1 bank by API
- AtlarBank APIsHost-to-hostEBICSSFTP / filesNetSuite · SAP · Dynamics 365 · Oracle · Workday · Sage · Xero · Odoo · IFS · DATEV0 banks by API
- AgicapBank APIsSWIFTHost-to-hostSFTP / filesOpen bankingNetSuite · SAP · Dynamics 365 · Sage · Xero · QuickBooks · Odoo0 banks by API
- CobaseBank APIsSWIFTHost-to-hostEBICSSFTP / filesNetSuite · SAP · Dynamics 365 · Workday · IFS0 banks by API
- HighRadius TreasurySWIFTHost-to-hostSFTP / filesNetSuite · SAP · Dynamics 365 · Oracle · Sage · Infor0 banks by API
- SAP Treasury and Risk ManagementSWIFTHost-to-hostEBICSSAP0 banks by API
- Coupa TreasurySWIFTHost-to-hostEBICSSFTP / filesNetSuite0 banks by API
- TIS (Treasury Intelligence Solutions)Bank APIsSWIFTHost-to-hostEBICSSFTP / filesSAP0 banks by API
- Datalog FinanceSWIFTNo ERP named0 banks by API
- FIS Treasury and Risk ManagerSWIFTNo ERP named0 banks by API
Researched 2026-11-14 from vendor websites, press releases and trade press; each claim links its source. Researched from vendor sites, press releases and trade press. Empty fields mean no public statement was found, not that the capability is missing. Bank counts are vendors' own figures and are not comparable. Missing a system or a connection? Tell us on the issue tracker.
How a TMS connects to banks
| Channel | What it is | Where it is used |
|---|---|---|
| Bank APIs | The bank's corporate or premium API: real-time balances, payment initiation and status, often in ISO 20022 formats. | Large corporate banks; see the premium banking API directory |
| SWIFT | The interbank network, reached directly (Alliance Lite2) or through a service bureau. Statements as MT940 or camt.053, payments as MT101 or pain.001. | Multinationals with many banks across countries |
| Host-to-host | A direct, secured file connection (SFTP) between the company or its TMS and one bank. | A company's main banks, especially in the US |
| EBICS | The standard file channel of German, French, Austrian and Swiss banks. | Companies banking in DACH and France |
| Open banking | Regulated access (PSD2 and equivalents) to account data and payment initiation. | Smaller businesses and banks without a corporate API |
And how it connects to the ERP
The bank shows the cash; the ERP shows what it is committed to. A TMS reads open bills and invoices by due date for the forecast, and writes payments and journal entries (bank fees, interest, FX, intercompany) back to the ledger. Most vendors ship their own connectors for SAP, Oracle, NetSuite, Dynamics 365 and Workday. Treasury products that sell to many mid-market companies often use a unified accounting API instead of one connector per ERP; Apideck explains how in its guide to treasury APIs: bank APIs and ERP APIs.
Disclosure: the Open Banking Tracker is published by Apideck.
Frequently asked questions
What is a treasury management system (TMS)?
A treasury management system is software a company's treasury team uses to see cash across all its bank accounts, forecast it, make and approve payments, manage FX and debt, and reconcile with the books. To do that it connects to two systems of record: the banks, for balances, statements and payments, and the ERP, for payables, receivables and the general ledger.
How does a TMS connect to banks?
Through four main channels: SWIFT (directly or through a service bureau), host-to-host file connections, EBICS in Germany, France, Austria and Switzerland, and increasingly bank APIs, the corporate or premium APIs banks such as J.P. Morgan, Citi and HSBC sell to their business clients. Most TMS mix all of them, because no channel reaches every bank. Vendor bank counts are their own marketing figures and are not comparable with each other.
Which TMS connect to banks by API?
11 of the 16 systems in this directory say they connect to banks by API. Kyriba, GTreasury, Trovata and Embat name the most banks they connect to by API, including J.P. Morgan, Citi, Wells Fargo, Bank of America and HSBC.
Which ERPs do treasury management systems integrate with?
Oracle NetSuite, SAP (S/4HANA and ECC), Microsoft Dynamics 365 and Workday are the ERPs TMS vendors name most often. Mid-market systems such as Agicap, Atlar and Embat also name Xero, Sage, Odoo, QuickBooks and DATEV. SAP Treasury and Risk Management runs inside SAP S/4HANA itself.
What is the difference between a TMS and a bank's treasury API?
A bank's treasury API gives access to accounts at that one bank. A TMS sits on top of many banks' APIs and other channels, adds the ERP data, and gives the treasury team one view and one place to pay from. The banks with treasury APIs are listed in the premium banking API directory.
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