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Evaluating the Vendors of Online Corporate Cash Management

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26 October 2006
Jacob Jegher

Abstract

Boston, MA, USA October 26, 2006

Cash management is a buyer's market.

The online cash management technology market has reached maturity. Core functionalities are fully integrated (e.g., ACH and wire initiation), and single sign-on has been achieved. The features race is tapering. Although the market is mature, it is far from equilibrium and even farther from decline. On the contrary, it continues to be ripe for innovation and advancement (e.g., incorporating service-oriented architecture), replacements (e.g., midsize banks are increasingly evaluating the upgrade or replace options), and the introduction of new complementary features (e.g., alerts, security capabilities, robust administration tools). In a new report, Evaluating the Vendors in Online Corporate Cash Management, Celent compares the range of solutions available to financial institutions of all sizes looking to purchase a new cash management solution or upgrade an existing one.

Celent examined the cash management offerings of eight vendors: Bottomline Technologies (WebSeries), Corillian (Corporate Banking), Digital Insight (Corporate Banking), Financial Fusion (Corporate Banking Solution), Fiserv BANKLINK (iLINK), Fundtech (CASHplus), P&H (Web Cash Manager), and S1 (Corporate Banking).

"The cash management market is a buyer's market, with most vendors vying for business across a broad range of financial institutions. A handful of vendors have emerged from the pack and made their mark by offering a strong combination of advanced technology, strong features, usability, and services to a large number of financial institutions," says Alenka Grealish, co-author of the report and manager of the Banking group at Celent.

However, the true trendsetter moving forward is going to be usability. "Cash management solutions have long been lacking on the usability front, and vendors are starting to recognize the importance of this aspect. Banks will need to provide the right ratio of features and functionalities to usability," says Jacob Jegher, co-author of the report and senior analyst. "The focus on effectiveness and usability is going to drive IT spending on cash management solutions to US$633 million in 2007."

This 36-page report contains 8 figures and 17 tables. A table of contents is available online.

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