Treasury software sounds like a niche market, but it’s a niche that a local developer expects to grow rapidly.
Treasury Software recently announced the release of Benchmark FX and Benchmark Treasurer, products that help organisations manage their financial exposure in foreign exchange and treasury holdings.
Sales and marketing director Mike McKeown expects the market for treasury software to grow as local accountants prepare to meet new accounting standards. Treasury also has its eyes on lucrative overseas markets and is in discussions with a Chicago firm, he says.
At the moment, the company has the niche largely to itself, McKeown says. “There’s no decent competition in New Zealand. The biggest competitor is the good old No 8 wire with Excel spreadsheet.”
The Benchmark products aim to make it easier to extract financial reports. Reporting functions are built in to the software and reports are produced in Microsoft World format, says McKeown. “The user can concentrate on managing the portfolio and not on managing the system.”
Wizards are provided for each function.
Benchmark stores data in an SQL Server database and links to external data from providers such as Infoscan and Reuters, he says. The system can also be run from a laptop.
Treasury is targeting a range of customers, from importers and exporters who need to track of their foreign exchange exposure to large corporates with complex treasury operations.
Prices range from $10,000 to $60,000, depending upon the modules required, McKeown says.