Treasury technology - industry analysts to track (update)

July 30, 2014
Tim Wheatcroft
Analyst

PLEASE NOTE - Given the changing landscape for industry analysts, we'll update this article from time to time.

Industry analysts remain a powerful force in the technology buying process. Aside from personal references and current client testimonials, analysts have one of the most influential voices around when it comes to recommending a vendor. They have a deep knowledge of the industry, and speak with both vendors and industry influencers on a regular basis. So, they stay on top of developments in the market, as well as the solutions offered.

Also helpful for the buyer is that analysts don’t offer a “one size fits all” approach to recommendations. What may be a great solution to recommend to company X, that needs to accomplish Y and has Z challenges, could be completely inappropriate for another organization with a different set of challenges. So, the input you get will be tailored to your individual organization's needs, taking into account aspects such as current technology set-up, budget, scope of requirement, etc. As the analysts have no personal agenda – regardless of whether a vendor is a client of their firm or not - you can also be assured that the input they provide is unbiased.

Although there were some well-publicized examples of analyst firms taking a pay-for-play approach in the early 2000s, this is no longer the case, and most firms have an excellent reputation for sound advice. Much of this is down to their business model, and many firms are at pains to say that most of their revenues come from buyers, not vendors, thereby ensuring their independence. There is often a cost for analyst advice, but when compared to the price of choosing the wrong vendor and having to go through the whole buying / implementation process (after all, we all know how useful free advice can be), it’s a very sound investment. A few thousand dollars could save you hundreds of thousands or more if you can avoid a blown implementation.

So who are some of the key analysts that cover treasury? Shown below is a selection of some of the more respected names in the industry, whose opinion could be useful if you are either wondering which vendors to include in your RFP, or are closing in on a decision and need to validate your choice.

While some of these are “pure” treasury analysts, others cover treasury to an extent as part of a broader remit, such as ERP, financial software, supply chain finance, SaaS applications or so on.  For privacy’s sake, we’re not listing any personal contact information, but if you reach out to the analyst firms, they will be able to advise you on reaching the individual.

Aberdeen Group: Nick Castellina, research director (Twitter)

Aite Group: Enrico Camerinelli, research director (Blog / Twitter)

 

Apps Run The World: Albert Pang, president (Twitter)

Blue Hill Research: Scott Pezza, research director (Twitter)

Forrester Research: Andrew Bartels, vice president (Blog / Twitter)Paul Hamerman, vice president (Blog / Twitter)

Gartner: Nigel Rayner, research vice president

IDC: Christine Dover, research director (Twitter) / Michael Versace, global research director (Twitter)

Ventana Research: Rob Kugel, SVP and research director (Blog / Twitter)

Vital Analysis: Brian Sommer, president (Blog / Twitter)

Not only are these analysts useful to contact if you’re looking for a treasury platform, but they’re also knowledgeable on treasury and financial / business applications in general, so are well worth following via their Twitter feeds and / or blogs.

And now, a few quick questions that you may have…

So you’re paying these guys so they say nice things about you, right?

Full disclosure, we are a paying client of some analyst firms. However (unfortunately for us, I guess), the advice they give out to potential technology buyers is unbiased and independent, regardless of whether a vendor pays them or not. You will get the unvarnished truth.

I’ve heard of the Gartner Magic Quadrant – is there a treasury version of this?

Not at present. However, Gartner will provide input on vendor selection. The firm's primary treasury technolology analyst is Nigel Rayner.

Are there any analyst reports on the TMS industry?

There are several reports in the works from a number of highly respected analyst firms. Much of this requires a paid subscription so we can't post it here. One example of a free to view report is Aberdeen Group's The Integrated Approach to Treasury and Risk: Achieving Greater Returns through Automation and VisibilityOnce we get more information, we’ll post it here. Also check out the Apps Run Treasury site from Apps Run The World, as it contains a wealth of useful information.

What do analysts say about Kyriba and its technology?

“Finance executives who want to improve their treasury organization should evaluate how well their existing technology supports this function. If better software is needed, I recommend evaluating Kyriba Enterprise.” Rob Kugel, Ventana Research

“We saw two important announcements at Sibos that have implications for corporate treasury Kyriba announced a partnership with CGI to integrate trade solution CGI Trade360 into the Kyriba Enterprise platform. These are important illustrations of how TMS vendors are evolving, not just addressing ‘core’ treasury requirements but the wider challenges that treasurers are experiencing, particularly as their role expands into new areas.” Enrico Camerinelli, Aite Group

"Market uptake for Kyriba’s solutions has been strong. The firm now has several hundred customers and significant year over year growth. If my notes are right, they are adding a good 100+ customers a year now. Even several large banks are white labeling the product to their customers  I like this product line as it is cloud-based, full multi-tenant and very high-end. It represents what great financial software products can be in a cloud deployed manner. I’m tired of hearing older vendors state that cloud solutions are immature or targeted to small businesses. These detractors need to look at what Kyriba can do for very large businesses." Brian Sommer, Vital Analysis 

“Using the cloud-based delivery model, Kyriba is able to quickly respond to changing business requirements. Judging by its growth rate of the year-on-year bookings, the company seems to be on the right track to drive growth momentum As incumbent treasury management vendors are wrestling with the emerging set of requirements, Kyriba is well positioned to capitalize on the cloud computing phenomenon.” Agatha Poon, 451 Research

" Hamerman said SaaS applications that were purposely built to meet specific needs -- such as Adaptive Insights (planning and budgeting), Kyriba (treasury and risk management), Blue Ridge Inventory Group (inventory and demand management), and WebFilings (regulatory compliance and reporting) -- have had significant success because of their depth of functionality, and in many cases, friendlier pricing. SearchFinancialApplications 

"Kyriba is the only treasury and risk platform that was built from the ground up as a true 100% SaaS solution. In 2013, Kyriba, which has more than 250 employees, experience robust growth with 120 wins." Albert Pang, Apps Run The World