Accounting technology / Glossary / Treasury management

What is treasury management?

Definition

Treasury management is running a company's cash: seeing balances across banks, entities and currencies, forecasting cash flow, making payments and managing debt, investments and FX. Treasury management software does this from one live view that sits between the bank accounts and the ledger.

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Core function: Cash visibility and forecasting
Mid-market entrants: Embat, Panax, Atlar, Round
Category: Financial close

How treasury management works

Enterprises have used treasury systems from Kyriba and FIS for decades. The change since 2021 is mid-market treasury: open banking and bank APIs let companies with ten to a few hundred accounts connect everything in days, and a group of European and Israeli companies built products for finance teams that ran cash in spreadsheets. Embat raised EUR 30 million in 2026 for UK expansion, Panax and Atlar sell AI-driven cash forecasting, Round and Mimo add payments and payroll execution for smaller companies.

Common questions

What is the difference between treasury management and cash management?+

Cash management is the day-to-day: balances, payments, short-term forecasting. Treasury management adds funding, investment, FX and risk. Mid-market tools mostly do cash management and call it treasury.

Do small companies need treasury software?+

Once a company has several bank accounts, entities or currencies, a spreadsheet forecast stops being reliable. That is usually between 50 and 200 staff.

Which treasury tools suit mid-sized companies?+

Embat, Agicap, Panax, Atlar and Trovata for cash visibility and forecasting; Round and Mimo for companies that also want payments and payroll run from the same place.