Best treasury management software
Six treasury management vendors with an Accountio profile, side by side.
See all 93 Financial Close and Reconciliation tools in the directory →
Listed alphabetically. Accountio does not rank vendors, and a featured listing does not change the order.
Treasury management software gives finance teams a real-time view of cash across banks and entities, runs payments and forecasts cash. The six vendors here range from treasury platforms such as Embat and Panax, both built around AI agents, to Round Treasury, which places surplus cash in money market funds, and suites where treasury sits beside payables, such as Centime, Coupa and Payflows. Which one fits depends on how many banks and entities you run, whether you invest surplus cash and which ERP the tool must sync with.
Treasury management software at a glance
| Vendor | Best for | Founded and HQ | Customers | Pricing |
|---|---|---|---|---|
 Centime | Growing mid-market businesses with US$10m to US$250m in revenue | 2022; headquarters not published | Named customers include Synergy HomeCare, FC Cincinnati, Erdman Holdings, JobGet and CyberMaxx; count not published | Not published |
 Coupa | Finance, procurement and supply chain teams; 55% of the Fortune 500 work with Coupa | 2006; Foster City, California, US | More than 3,000 customers, including American Airlines, UPS, Hilton and Schneider Electric; 11.5 million buyers and suppliers on its network | Not published |
 Embat | Medium-sized and large companies across sectors, for their finance and treasury teams | 2021; Madrid, Spain (offices in London, Berlin and Munich) | Customer stories include Wallapop, Fever, SeQura and Parlem; no customer count published | Quote on request; modular plans priced to the modules selected |
 Panax | Lean finance teams with complex treasury operations; CFOs, finance teams and treasury teams | 2022; Tel Aviv, Israel | Customer stories include Optimove, GoGlobal, Rotovia and Beachwold Residential; no customer count published | Quote on request; three plans (Start, Grow, Pro) on a yearly contract priced by number and complexity of bank, platform and ERP connections |
 Payflows | Enterprise finance, procurement and treasury teams that want to keep their existing ERP | 2022; Paris, France | Named customers include Feedzai, Spendesk, Electra, Swile, Evaneos and Homa | Not published |
 Round Treasury | Founders, CFOs and finance leads at UK companies with surplus cash | London; founding year not published | US$500m+ processed on the platform; customers include Veridox, Velocity and Feria; count not published | Launch plan £0 a month; Growth and Enterprise plans on request, with per-invoice, per-payroll-payment and FX fees |
The six vendors
In alphabetical order. “Not published” means the vendor does not state it.
Centime
Best for: Growing mid-market businesses with US$10m to US$250m in revenue
Cash management embedded in the ERP: accounts payable, accounts receivable, a rolling 13-week cash forecast, expenses, business banking and treasury management.
- Founded and HQ
- 2022; headquarters not published
- Ownership
- Not published
- Customers
- Named customers include Synergy HomeCare, FC Cincinnati, Erdman Holdings, JobGet and CyberMaxx; count not published
- Pricing
- Not published
- How it runs
- Embedded in the ERP; banking products provided by FNBO, Member FDIC
- Good to know
- Rolling 13-week cash forecast from AP, AR and bank data; SOC 2 Type II
Coupa
Best for: Finance, procurement and supply chain teams; 55% of the Fortune 500 work with Coupa
Spend management across procurement, AP automation, expenses, payments, treasury and supply chain, with AI agents.
- Founded and HQ
- 2006; Foster City, California, US
- Ownership
- Private; acquired by Thoma Bravo in an US$8bn all-cash deal; interim CEO Mike Lipps since August 2026
- Customers
- More than 3,000 customers, including American Airlines, UPS, Hilton and Schneider Electric; 11.5 million buyers and suppliers on its network
- Pricing
- Not published
- How it runs
- Cloud; offices in North America, Latin America, EMEA, APAC and Dubai; site in English, German, Spanish, French, Italian, Portuguese and Japanese
- Good to know
- Treasury sits inside a wider spend management suite covering procurement, AP automation, expenses and payments
Embat
Best for: Medium-sized and large companies across sectors, for their finance and treasury teams
Cloud treasury management platform: real-time cash positions, forecasting, bank and PSP reconciliation, and payment execution, with the TellMe AI agent.
- Founded and HQ
- 2021; Madrid, Spain (offices in London, Berlin and Munich)
- Ownership
- Private, venture-backed; Series B, €30m (May 2026); investors include Cathay Innovation, Creandum, Samaipata, Venture Friends and 4Founders Capital
- Customers
- Customer stories include Wallapop, Fever, SeQura and Parlem; no customer count published
- Pricing
- Quote on request; modular plans priced to the modules selected
- How it runs
- Cloud-native; offices in Spain, the UK and Germany; site in English, German and Spanish; payments in over 50 currencies
- Good to know
- Payment batches across all banks in 50+ currencies, with approval rules; ISO 27001 certified
Panax
Best for: Lean finance teams with complex treasury operations; CFOs, finance teams and treasury teams
AI-native treasury and cash management platform that connects bank and ERP data and runs AI agents for forecasting, reconciliation, reporting and payments.
- Founded and HQ
- 2022; Tel Aviv, Israel
- Ownership
- Private, venture-backed; Series A, US$10m from Team8 and TLV Partners
- Customers
- Customer stories include Optimove, GoGlobal, Rotovia and Beachwold Residential; no customer count published
- Pricing
- Quote on request; three plans (Start, Grow, Pro) on a yearly contract priced by number and complexity of bank, platform and ERP connections
- How it runs
- Serves lean finance teams worldwide; over 10,000 banks supported globally
- Good to know
- Setup handled by Panax; onboarding typically takes a couple of weeks to a couple of months
Payflows
Best for: Enterprise finance, procurement and treasury teams that want to keep their existing ERP
AI finance platform of sub-ledgers for procurement, vendor and contract management, accounts payable and treasury.
- Founded and HQ
- 2022; Paris, France
- Ownership
- Private (Payflows SAS); Series A of €25m (April 2024)
- Customers
- Named customers include Feedzai, Spendesk, Electra, Swile, Evaneos and Homa
- Pricing
- Not published
- How it runs
- Cloud, hosted in Ireland (Amazon Data Services Ireland); multi-entity and multi-currency; roles in Paris and New York
- Good to know
- Metis agent for payments and treasury; SOC 2 Type II and ISO 27001
Round Treasury
Best for: Founders, CFOs and finance leads at UK companies with surplus cash
AI-powered treasury, accounts payable and payroll: surplus cash in BlackRock money market funds with next-day liquidity, and automated sweeps and payment routing.
- Founded and HQ
- London; founding year not published
- Ownership
- Venture-backed; US$6m raised; investors include Alstin Capital, Backed VC, Love Ventures and Passion Capital
- Customers
- US$500m+ processed on the platform; customers include Veridox, Velocity and Feria; count not published
- Pricing
- Launch plan £0 a month; Growth and Enterprise plans on request, with per-invoice, per-payroll-payment and FX fees
- How it runs
- UK; GBP, USD and EUR accounts; aggregates over 2,000 UK and EU bank accounts; authorised and regulated by the FCA
- Good to know
- ISO 27001 certified; FCA-regulated rails and FSCS protection
Related tools
Spend, payables and collections tools that finance teams run alongside treasury.
How to choose treasury management software
- How many banks, entities and currencies do you need in one cash view?Embat gives real-time cash visibility across banks and entities and runs payments in over 50 currencies; Panax brings bank and ERP data together for cash positions and forecasts; Round Treasury aggregates over 2,000 UK and EU bank accounts, with GBP, USD and EUR accounts.
- Do you need payments and reconciliation in the same tool?Embat and Panax run payments with approval rules and reconcile transactions to the ERP. Payflows covers payments, bank reconciliation and risk monitoring. Centime and Round Treasury combine treasury with accounts payable.
- Do you want to earn a return on surplus cash?Round Treasury places surplus cash in BlackRock money market funds with next-day liquidity. Embat and Panax centre on cash positions, forecasting, reconciliation and payments.
- Should it run inside your ERP or beside it?Centime is embedded in the ERP. Embat syncs both ways with cloud and on-premise ERPs every few minutes, and Payflows is built as an overlay to an existing ERP or P2P system.
Compare further
Common questions
What does treasury management software do?+
It connects a company's bank accounts and ERP to show cash positions in real time, forecasts cash, runs payments and reconciles bank transactions. Some tools also place surplus cash in money market funds.
How much does treasury management software cost?+
Round Treasury publishes a Launch plan at £0 a month, with Growth and Enterprise plans on request and per-invoice, per-payroll-payment and FX fees. Embat and Panax quote on request: Embat prices modular plans to the modules selected, and Panax sells three plans on a yearly contract priced by the number and complexity of connections. Centime, Coupa and Payflows do not publish prices.
What is the difference between treasury management and cash management software?+
Cash management covers the daily view of cash, payables, receivables and short-term forecasts, which is how Centime describes its platform. Treasury management adds cash visibility across many banks and entities, payment execution and the investment of surplus cash, as in Embat, Panax and Round Treasury.
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