Thomson Reuters was created in 2008 with the purchase of global news agency Reuters by the Thomson Corporation. Although less visible to the general public than Reuters, the Thomson Corporation was actually one of the largest players in the ‘information’ game.
In a move that caught many industry watchers off guard one of Thomson Reuters flagship products, the Thomson Reuters Corporate Treasury Manager Service has just been bought by Wallstreet Systems. The service, which has proved popular with subscribers since its launch, has now been rebranded as ‘Treasura‘.
The key selling point for the system has to be that it is fully SSAE16 certified. The standard replaces the obsolete SAS7. In 2011 software products in the liquidity and cash management sector that fail to do this will not cut the mustard.
As well as the cash and liquidity management functions, the functionality around financial deal management may prove to be a big plus when compared to its rivals. Foreign exchange management functionality includes tracking and reporting for foreign exchange transactions, including accounting entries, cash flows and settlements.
In today’s cut-throat business atmosphere keeping close tabs on debts can be the difference between success and failure. Amortizations and rollovers can be a minefield for the unprepared, as anyone who has experience in credit facility management will tell you.
The acquisition represents a bold move by Wallstreet Systems. By buying out a service that has some degree of overlap with their existing software and analytics offerings they will be hoping to increase their market share in this highly competitive arena. It is perhaps the kind of business strategy that we will be seeing more of in the coming months.
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