TrustRadius review of GTreasury
At Micro Focus we use most of the available modules of GTreasury. We use the Cash Management module, FTs, FI module, as well as, …
Overview
What is GTreasury?
GTreasury in Lake Zurich offers their treasury management system for funds and transfer management, liquidity tracking, customizable accounting rules with ERP integration, and other liquidity management features.
Recent Reviews
Product Details
- About
- Competitors
- Tech Details
What is GTreasury?
GTreasury helps treasury teams become centers of strategic insight that drive decision making and reduce corporate risk. Our integrated SaaS-based treasury management platform offers seamless connectivity and unparalleled visibility into any combination of liquidity, cash forecasting, payments, financial instruments, risk, accounting, banking and hedge accounting activities. With world-class development and implementation teams, GTreasury is committed to meeting the needs of strategic treasury now and into the future. Headquartered in Chicago with offices serving EMEA (London) and APAC (Sydney), GTreasury’s global community includes more than 750 customers and 30+ industries reaching 160+ countries worldwide.
GTreasury Features
- Supported: Treasury Management
- Supported: Risk Management
- Supported: Cash Management
- Supported: Payments
- Supported: Connectivity
GTreasury Video
Introductory Video to GTreasury
GTreasury Competitors
GTreasury Technical Details
| Deployment Types | Software as a Service (SaaS), Cloud, or Web-Based |
|---|---|
| Operating Systems | Unspecified |
| Mobile Application | Apple iOS |
| Supported Countries | All |
| Supported Languages | English |
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Reviews and Ratings
(13)Attribute Ratings
Reviews
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November 12, 2021
[In my opinion, the] luster gets lost when you use it.
It is being used primarily in the Treasury department. It solves the problem of needing and using multiple banking platforms. One-stop-shop login rather than multiple logins. It also has allowed us to automate the GL account coding inside the funding templates.
- Reporting automates bank balance view(s) by sending daily email recipients.
- [It] includes the GL account coding on the funding templates to automate the posting of JEs for that transaction.
- [It] synergizes bank transactions via a single portal rather than multiple logins for multiple bank platforms.
- [In my opinion,] the main page is not helpful - [it] uses a lot of real estate for not much info and will let you reset the default opening screen to something different or rearrange the view of [the] screen.
- [In my experience,] on the main page, [you] cannot alter [the] view of bank balances. [It] combines all the balances across all accounts into a lump sum number which is not very helpful [in my opinion].
- [In my experience,] email notifications to approvers only happen once at the time of the transaction creation regardless [of whether] the transaction is a future dated wire. Notification should have a reminder closer to the date that the transaction is due [in my opinion].
- [In my experience,] approver notification for transactions in the [queue] only defaults to TODAY, so future-dated wires get missed. To see future-dated wires, [I believe] the approver must go in and alter the date range for the view EVERY TIME. [I feel like] there should be the ability to set a default date range by [the] user.
- [There is] no mobile app. [In my opinion,] this is NEEDED for approvers on the go.
- [In my experience, I feel it] reduced data entry from 3x (wire write up, enter in bank platform, create JE) to 1x ([GTreasury] template is selected as the wire "write up" which is in the [GTreasury] platform and includes the GL account coding for automatic posting to the Accounting software).
- [In my opinion, it] reduced data entry risk by utilizing templates that "locked" down wire instructions.
- [I feel that] user adoption is slow due to [the] complexity of usage and navigation of [GTreasury] compared to bank portals/platforms.
- [I believe that the] lack of link in the email (that takes the user straight to [GTreasury]) for approvers derailed user adoption by [the] executives.
- [I feel that the] lack of [a] robust mobile app has deterred adoption by users who travel.
[In my opinion, GTreasury] seemed like it would be more robust than it [actually] is. [I feel that] the "user" screens are much less attractive than the sales pitch. [I believe that the] navigation and set up is harder than it needs to be which makes users not like it.
50
Treasury and Accounting.
2
FP&A background tasked with learning GTreasury. They've picked it up, but, [in my opinion,] GTreasury is nebulous, illogical with terminology and design that makes it hard to master. [I feel that] our Treasury team that mastered bank portals struggle with understanding and getting around in [GTreasury].
- [It] streamlines [the] accounting coding process.
- [It] increases controls by using templates.
- [It] decreases touchpoints of [the] same data entry.
- We brought in our Investment Account balances to our reporting view to better manage our liquidity profile.
- [I would like it if] the mobile app [could] get up and running.
- [I feel we would be] interested in Budgeting and Forecasting, but, [in my opinion,] the pain point for [GTreasury] implementation is too high.
Yes
It replaced multiple bank portals/platforms. Now, all banking goes through [GTreasury] as a single platform.
- Price
- Product Features
- Product Usability
- Product Reputation
Product features seemed really robust.
[In my opinion, I think] we would not select GTreasury. [In my experience,] our sales rep was let go before we inked the deal, and then once we signed, the implementation team turned over multiple times as well as our dedicated account rep. [I feel] there were elements of "start over" each time a [GTreasury] team member turned over, which, [in my opinion,] lost months on our implementation timeline. That's just getting [GTreasury] up and running. Once we learned [GTreasury], [I believe that] it is not as user-friendly to use or administer as we thought. [I also feel that] the screens are not very user-friendly.
- Implemented in-house
Yes
Code set up - TA rules, trees Reporting Security Admin Templates
Change management was a major issue with the implementation
[I believe that the] change management on [GTreasury's] part severely and negatively impacted our implementation. [In my experience,] one particular [GTreasury] Project manager was rude and inconsiderate. [I felt that] it was a dread to come to the "meetings" with this person [and] made for a terrible experience.
- [In my opinion, it has] high, high, high turnover on [GTreasury's] side.
- [In my opinion, GTreasury's] project manager was rude and inconsiderate of client needs.
- [I feel that GTreasury] does not seem to value client needs, especially when they require extra effort/set up beyond the cookie-cutter options native to [GTreasury].
[In my opinion,] you shouldn't have to select "levels" of support. [I believe that] if the [GTreasury] product is good as it says it is, then we shouldn't need support that much, but, [in my opinion,] when we do, we should have quick access to a support team that cares about ALL of their customers, not just the ones that pay extra.
Yes
[I believe it was] satisfactory.
[I am] drawing a blank on this, [but, in my opinion,] GTreasury is not very customer-centric.
- Single sign-on capability [is an easy feature].
- [I believe that] set up and administration (TA rules, trees, etc.) [is difficult].
- [In my opinion,] reporting is difficult, in particular, the worksheets are hard to understand especially for normal bank portal users.
- [I believe that] security [is difficult].
- [I feel that] approval workflow [is difficult].
- [In my opinion,] approval rules ($, type of transaction matrix) are hard to set up [properly].
- [I feel that] no mobile app [makes it difficult].
No
August 09, 2018
GTreasury: a Great Solution and Business Partner
The GTreasury Workstation is used by the Treasury team for our daily cash concentration process, administer our debt portfolio, ST money market transactions, FHLB Borrowing, bank account administration central repository, bank account analysis, payment hub, origination of funds transfers, wires US & international, ACH origination, State ACH Tax Payments with addendum, and settlement of inter company payables and receivables for the organization. The 822 Account Analysis feed is utilized to monitor bank service fees actual to contracted prices, and various statistical reports regarding bank balance exposure, risk assessment, and monitoring any overdrawn accounts.
We use the GTreasury Workstation to receive previous and same day BAI information (including Money Market Fund Balances and custodial/trust account information, wire reference numbers, ACH return files, ACH Prenotes, ACH NOCs, This data is used by Treasury and the extended corporation. Extended corporation includes accounting, business areas, accounts payable, billing & collection, Investment Advisors, and our Puerto Rico office. Extended users are reviewing for incoming transaction activity, and some originate electronic fund transfers.
This system allows for self service on payment inquires for the product areas looking to see if funds have been received from our various customers for specific products, or confirm ACH and wire transactions have been released and for wires the Federal Reserve Reference Number and date/time it was sent.
Billing & Collection, Customer Service Teams utilize GTreasury to research ACH payments both collection and disbursement. They also utilize the GTreasury for monitoring ACH Returns, and NOC's which are associated to the original transaction.
The Controller Team utilizes the system to receive BAI information for bank account reconciliation, and researching differences between the bank statement and the ledger.
We also utilize the GTreasury accounting feature to send daily accounting entries for various payment transactions originated and also transaction assignment that automatically generates accounting for automated bank sweeps and incoming debit or credit transactions automatically.
This system has allowed us to optimize our daily cash and investment levels to optimize the return on short term cash, and provide cash forecasts for the Investment Advisors tracking incoming cash from operations, principal & interest, pending trades to know the available cash for investing.
The system has also assisted in better management of the Bank Account Analysis to identify costs, and services and contract price variances. This and the ACH reversal functionality has allowed us to identify and reduce various bank service costs, saving the organization bank service charges each year.
This system also solved the issue of tracking the USA and International bank accounts, and signers, simplifying when signers change, and completion of the FBar reporting requirements, reducing the time spent on this task by over 70%.
- Customer focused on treasury services with agile system releases and training.
- User friendly system, easy to create reports, worksheets or download data.
- Responsive customer service.
- They are updating their Debt module in October, which is a good thing - listening to customer requests.
- They are expanding the short-term trading platform with ICD to fill the gap on money market transaction processing.
- The adhoc reporting can always be improved.
- Very positive ROI allowing us to take our daily cash target down to 1% of total admitted Assts. Prior to GTreasury we were running close to 20%.
- Reduced bank service cost initially by $300,000+ and annually a minimum of $50,000.
- Allowed us to maintain and streamline Treasury Staff FTE level, with the ability to train other areas for self service payment research, so the Treasury Analyst can focus on value added analysis tasks.
GTreasury came out ahead in almost all areas of the RFP. TWS providers we also looked at were PeopleSoft/Oracle Treasury, Reval, Kyriba IT2.
GTreasury cam out ahead in the following sections of the RFP for example: Bank Administration, User Set Up, Cash Position & Forecast, Funds Transfer, Debt Administration, Capital Action Tracking, Bank Fee Analysis, Accounting, Customer Service.
The areas listed above are why we chose GTreasury. We were looking for a partner that understood what we needed for our operation and willing to work with us to make it reality and we found it We also wanted a cloud solution and GTreasury provided that to us. We also needed a TWS that could process.
- Implemented in-house
Yes
Set your Vision for future state
Determine automated Bank Integration for BAI and payment processing
Have a current list of Banks and Accounts for Set Up
Determine how you want to Daily CashPosition
Funds Transfer
Accounting for payment transactions and money movement
Define user groups and separation of duties for controls.
Go Live supporting Treasury
BAI Account Reconciliation Feed
Expand Payment functionality
Added new product payment processing
Add Debt Module
Add ACH Functionality
Add 822 Account Analysis
Expand Reporting
Added Investment wire transfers
Add Money Market Transaction Feeds
Change management was a big part of the implementation and was well-handled
Engage areas in the vision early so they understand future impact and can engage on the technology efficiencies coming and position changes for self service benefits.
Communicate often, insure appropriate resource alignment from other areas SME approved allocations and time they would be working on the project.
Ask why, just because have always done it that way isn't the correct answer
- Getting IT to understand Cloud Security
- Inhouse Project Manager turnover
- Resource time for project and production