The buyer’s market: transaction management software solutions

6 August 2018

Managing and monitoring transactions has always been crucial for any organisation, but with the slew of regulations to have reshaped markets over the past few years, the compliance requirements that have come with them have set the bar high in terms of administration and governance. From Mifid II to PSD2 and GDPR, the regulations have been felt across markets – from real estate to derivative trading – and led to the rise in digital transaction management.

Transaction management software (TMS) – otherwise known as business transaction management - can take a huge weight off the logistical and regulatory burdens faced by merchants and market participants. And much like many verticals within the fintech sphere, the options may seem endless. Indeed, many enterprise finance systems offer transaction management capabilities, but there are many instances in which a firm will want the specific service provided by a niche product to slide into its current software systems.

From the position of a buyer, there are many things to bear in mind: speed, execution and compliance requirements, cost and data hosting functions, and of course flexibility to add to the product over time. Crucial, however, is knowing what’s on the market, and so here we’ve selected some of the stand out performers within the TMS/BTM arena.

 

Oracle BTM

One of the most established players in the market, Oracle’s BTM utilises complex data management facilities to provide transaction visibility, KPI monitoring and proactive exception management. At the heart of Oracle’s offering is transaction status and health monitoring, reporting on business metrics which are embedded in transaction content, and the management of transaction errors.

IBM Financial Transaction Manager

The software giant’s payments and transactions system allows market participants the ability to process, monitor, track and report across industry standards and jurisdictions. The USP of IBM’s offering is that is pulls an organisation’s different payment types into a single platform, and can offer assistance with immediate payment requirements, Swift, ACH, SEPA, check processing as well as larger corporate payment services, allowing finance and treasury departments a one-stop shop for payment processing.

DocuSign

An early proponent of digital transaction management (DTM) on the cloud, DocuSign offers both enterprise-wide transaction management services, as well as specific tools within a firm’s departmental requirements. From sales order processing to policy management within the finance department and asset transfer/retirement, DocuSign’s services come off the shelf and on a bespoke basis.

Workday Financial Management

Specialising in cost-effective management systems without disrupting business processes, Workday’s transaction management capabilities are cloud-hosted, and offer extensive and contextual analytics into the transaction process. The software can work on any device, allows for significant planning requirements and project maintenance. It also boasts the ability to work multi-entity, multi-book, and across currencies.

CSG BSS & Revenue Management

CSG’s offering aims to allow firms to process large volumes of transactions – both on and offline. It integrates a number of card processors and banks, and easily allows for new payment processing options, and ties together customer care and billing, wholesale business-to-business transaction processes, mediation and a variety of payment solutions.


Listen to: Dodd Frank rollback: Capital rewards and US markets | webinar | August 7 

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