Adoption of treasury management systems by corporates has slowed over the past two years, according to latest research from Greenwich Associates.
Figures from Greenwich show that half of all corporate treasurers now use treasury managemt systems, but that concerns over cost resulted in reduced uptake of TMS during 2002.
Mainland Europe shows the greatest appetite for these systems, followed closely by the US with the UK some way behind in third place. Asia, where the appetite for technology is usually strong, had the lowest TMS uptake.
Greenwich consultant Tim Sangston says: “Some people, particularly in the Asia-Pacific region, are opting to use an internally developed system or Excel spreadsheet to keep costs down.”
However the drop in the number of respondents who say they use TMS does not mean they are discarding their systems. Previous surveys had seen many users mistakenly classify their in-house proprietary systems as TMS, says Greenwich, and increased marketability of treasury systems had now led them to realize they in fact used something quite different
