Top 10 TRM Software Vendors and Market Forecast 2015-2020

Worldwide TRM Applications Market to reach $3.4 billion by 2020, compared with $2.7 billion in 2015 at a compound annual growth rate of 4.9%.

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In 2015, the top 10 TRM software vendors accounted for nearly 65% of the global Treasury & Risk Management applications market which grew 5% to approach nearly $2.7 billion in license, maintenance and subscription revenues.

Last year FIS Global led the pack with 13% market share and $337 million in TRM product revenues. Misys was No. 2 achieving 12% share, Murex was the third at 10% and ION Trading and SAP were fourth and fifth place with 10% and 5%, respectively.

Top 10 TRM Software Vendors & 2015 TRM Applications Market Shares
Top 10 TRM Software Vendors & 2015 TRM Applications Market Shares

Through our forecast period, the TRM applications market is expected to reach $3.4 billion by 2020, compared with $2.7 billion in 2015 at a compound annual growth rate of 4.9%.

Exhibit 2: Worldwide TRM Software Market 2015-2020 Forecast, $M
Year 2015 2020 2015-2020 CAGR, %
Total 2655 3375 4.90%

Source: Apps Run The World, June 2016

TRM Market Definitions And Forecast Assumptions

Treasury and Risk Management applications covers standalone and/or integrated products that automate business processes to support corporate treasury operations (including the treasuries of financial services enterprises) with the corresponding financial institution functionality and optimize related cash management, deal management, and risk management functions.

Financial services remain TRM’s biggest buyers, FIS’ purchase of SunGard forming a juggernaut in TRM will reshape the marketplace.

Top 10 TRM Software Vendors

Here are the rankings of the top 10 TRM software vendors in 2015 and their market shares in 2015.

Rank Vendor 2014 TRM Apps Revenues, $M 2015 TRM Apps Revenues, $M YoY Growth 2015 TRM Market Share, % Recent Developments
1 FIS Global Subscribe Subscribe -2% 13% Acquired SunGard Data Systems in late 2015 for its complementary range of products and services in Capital Markets, Wealth and Asset Management, and Risk Management to financial institutions and businesses worldwide
2 Misys Subscribe Subscribe 3% 12% Signed HP Enterprise in deal to put FusionCapital for post-trade processing in the cloud.
3 Murex Subscribe Subscribe 10% 10% Bolstered risk management solutions with Enterprise FRTB designed to help banks meet the Basel committee’s compliance deadline of January 1, 2019.
4 ION Trading Subscribe Subscribe 4% 10% ION’s move to deleverage appears to be paying off as ratings on its loans remain stable.
5 SAP Subscribe Subscribe 23% 5% Treasury management is one of the key modules within SAP’s new ERP suite S/4 HANA.
6 IBM Subscribe Subscribe -4% 3% IBM Algorithmics focuses on risk management solutions, having divested its collateral management apps to SmartStream in 2015.
7 Reval Subscribe Subscribe 18% 3% Ramped up Treasury and Risk Management offerings for mid-market and Asia expansion.
8 Open Link Financial, Inc. Subscribe Subscribe 14% 3% Former CEO of Digital Insight John O’Malley was named CEO of OpenLink.
9 Wolters Kluwer Subscribe Subscribe 13% 3% Formed Tax & Accounting North America unit in 2016 to combine tax and accounting apps under one roof.
10 EdgeVerve Subscribe Subscribe -6% 3% Infosys Finacle pitches Cloud-first banking as well as an connected ecosystem of financial and non-financial entities to take advantage of open banking services for general population at large.
Subtotal Subscribe Subscribe 5% 65%
Other Subscribe Subscribe 4% 35%
Total Subscribe Subscribe 5% 100%

Source: Apps Run The World, June 2016

Exhibit 1: Worldwide Enterprise Applications Market Forecast 2015-2020, By Functional Market, $M

Exhibit 4 Worldwide Enterprise Applications Market Forecast 2015-2020, By Functional Market, $M
Exhibit 4 Worldwide Enterprise Applications Market Forecast 2015-2020, By Functional Market, $M

TRM Win/Loss Analysis As Part Of Enterprise Applications Buyer Insight Customer Database

On the buyer side, customers are investing in TRM applications based on new features and capabilities that are expected to replace their existing legacy systems. In many cases, competitive upgrades and replacements that could have a profound impact on future market-share changes will become more widespread.

Since 2010, our global team of researchers have been studying the patterns of the latest TRM software purchases by customers around the world, aggregating massive amounts of data points that form the basis of our forecast assumptions and perhaps the rise and fall of certain vendors and their products on a quarterly basis.

Updated continuously, our database features extensive win/loss analysis. Each year our research team identifies tens of thousands of these TRM customer wins and losses from public and proprietary sources.

The research results are being incorporated into regular updates in our Enterprise Applications Buyer Insight Customer Database. You can access the Quarterly Win/Loss Analysis Scoreboard and our Enterprise Applications Buyer Insight Customer Database by becoming a subscriber.

DON’T MISS OUR CUSTOMER DATABASE

Vendor Customer Win Industry No. of employees Revenue, $M Old Product New Product Wins in
EdgeVerve Al Ahli Bank of Kuwait Banking and Financial Services 1500 425 Misys Infosys Finacle 1Q16
EdgeVerve Albaraka Banking and Financial Services 1300 275 Temenos Infosys Finacle 1Q16
EdgeVerve Asia Green Development Bank Banking and Financial Services 1700 200 Legacy System Infosys Finacle 2Q16
EdgeVerve Bank Leumi PLC Banking and Financial Services 225 57 Misys Midas Infosys Finacle 1Q16
EdgeVerve Paytm Internet 3000 330 Legacy System Infosys Finacle 2Q16
FIS Global CIT Banking and Financial Services 4740 2890 Jack Henry and Associates FIS IBS Core Processing Platform 4Q15
FIS Global Citizens Bank Banking and Financial Services 17900 4530 Legacy System FIS Core Banking 2Q16
FIS Global Dallas Capital Bank Banking and Financial Services 50 5 Legacy System FIS Digital Banking, FIS Mobile Banking 1Q16
FIS Global Emprise Bank Banking and Financial Services 500 70 Fiserv FIS Core Banking 1Q16
FIS Global Evans Bank Banking and Financial Services 220 25 Legacy System FIS Core Banking 2Q15
FIS Global Landmark Bank Banking and Financial Services 700 130 Fiserv FIS Digital Banking 4Q15
FIS Global Los Alamos National Bank Banking and Financial Services 310 45 In-House Legacy System FIS Core Banking 4Q15
FIS Global National Bank Holdings Banking and Financial Services 956 162 Legacy System FIS Core Banking 3Q15
FIS Global State Bank of India Banking and Financial Services 222033 38000 Tata Consultancy Services (TCS) BaNCS Core Banking FIS Core Banking 1Q16
FIS Global Westwood Holdings Group Inc. Investment Management 130 170 Infovisa FIS Core Banking 4Q15
IBM BNY Mellon Banking and Financial Services 51200 15194 Algorithmics IBM Algo Collateral Management 3Q15
IBM European Investment Bank Banking and Financial Services 2900 500 Wall Street Systems IBM Algo Risk 1Q15
IBM Generali Banking and Financial Services 77000 73100 Misys IBM Algo Risk 3Q15
IBM Nationwide Insurance Insurance 34000 40222 OpenLink IBM OpenPages 3Q15
IBM Skandinavisk Data Center Computer Software 1200 245 Misys IBM Algo Risk 2Q16
IBM Westpac Banking and Financial Services 32620 16230 Misys IBM OpenPages 1Q16
Misys Habib Bank Banking and Financial Services 14000 1100 Misys Misys FusionBanking 4Q15
Misys IDFC Bank Banking and Financial Services 1220 120 Misys Misys FusionBanking 4Q15
Misys PVcomBank Banking and Financial Services 2845 230 Temenos Misys FusionBanking 4Q15
Misys Techcombank Banking and Financial Services 7500 750 Temenos Misys FusionCapital 1Q16
Misys The United Bank of Egypt Banking and Financial Services 1000 500 Misys Misys FusionBanking 1Q16
Misys Trade Bank of Iraq Banking and Financial Services 100 15 Misys Misys FusionBanking 1Q16
Misys Virtus Partners Banking and Financial Services 250 30 FIS Global Misys FusionBanking 1Q16
Murex DZ Bank Banking and Financial Services 29596 6810 Murex Murex 1Q16
Murex Jefferies Investment Banking 3557 3275 Wolters Kluwer Murex 2Q15
Murex TD Bank Banking and Financial Services 26000 8024 Legacy System Murex 1Q16
Murex TD Securities Banking and Financial Services 3000 500 Wall Street Systems Murex 1Q15
Murex Westpac Institutional Bank Banking and Financial Services 32620 16100 Calypso Murex 4Q15
Open Link Financial, Inc. Banco Original Banking and Financial Services 750 87 Legacy System OpenLink Findur 2Q16
Open Link Financial, Inc. Bayerische Landesbank Banking and Financial Services 7082 700 OpenLink OpenLink Findur 2Q16
Open Link Financial, Inc. Etihad Airways Airlines/Aviation 19700 7600 IT2 Treasury Solutions OpenLink Findur 2Q16
Open Link Financial, Inc. Federal Home Loan Bank of Topeka Banking and Financial Services 220 10 TPG Software OpenLink Findur 2Q16
Open Link Financial, Inc. Romande Energie Utilities 740 590 Bellin OpenLink Findur 1Q16
Open Link Financial, Inc. Superior Plus Energy Services Oil & Energy 1100 570 Legacy System OpenLink Findur 2Q16
Reval Amcor Packaging and Containers 28000 9500 Legacy System Reval Cloud Platform 4Q14
Reval Hong Kong Aviation Capital Utilities 1000 500 Legacy System Reval Cloud Platform 1Q15
Reval Mission Rock Residential, LLC Real Estate 500 80 Legacy System Reval Cloud Platform 2Q16
Reval Ortho Clinical Diagnostics Medical Devices 3800 1700 SAP Reval Cloud Platform 4Q15
Reval Scenic Leisure, Travel & Tourism 300 50 Legacy System Reval Cloud Platform 3Q15
Reval Snowy Hydro Healthcare 1000 500 Legacy System Reval Cloud Platform 4Q14
SAP Al-Sayer Group Automotive 1000 500 Legacy System SAP TRM 1Q16
SAP JVL Agro Industries Food Production 1600 660 Legacy System SAP TRM 3Q15
SAP Roche Biotechnology 91750 49200 Legacy System SAP TRM 4Q15
SAP Sigma Aldrich Biotechnology 9600 2785 Legacy System SAP TRM 4Q14
SAP UOL-Universo On-Line Internet 2500 700 Legacy System SAP TRM 4Q14
SAP VDL Weweler Automotive 150 20 Legacy System SAP TRM 4Q14
SAP Wipro Information Technology and Services 172912 7735 Legacy System SAP TRM 4Q15
Wolters Kluwer Banco Santander Banking and Financial Services 50578 23800 Murex OneSumX Regulatory Reporting solution 1Q16
Wolters Kluwer Bank BGŻ BNP Paribas Banking and Financial Services 7590 2290 Legacy System OneSumX for risk management 2Q16
Wolters Kluwer Bank Pocztowy S.A. Banking and Financial Services 1417 110 Misys Kondor+ OneSumX for risk management 1Q16
Wolters Kluwer Housing and Development Bank Banking and Financial Services 2500 270 Sungard AMBIT OneSumX for risk management 1Q16
Wolters Kluwer Taiwan Business Bank Banking and Financial Services 4795 18030 Misys Kondor+ OneSumX Regulatory Reporting solution 2Q16

Source: Apps Run The World, July 2016

Further Readings

An expanded version of this report covers the top 50+ TRM vendors, offering in-depth analysis of the market dynamics, vendors’ Strengths, Customers, Opportunities, Risks and Ecosystems as well as their ability to gain Shares (SCORES) within their respective space.

We also offer win-loss analysis of the quarterly wins of these top vendors and whether incumbents and upstarts pose any real threat to their standing amid shifting market requirements and user preferences.

More Enterprise Applications Research Findings

Based on the latest annual survey of 3,000+ enterprise software vendors, Apps Run The World is releasing a number of dedicated reports, which profile the world’s 500 largest Enterprise Applications Vendors (Apps Top 500) and the world’s 500 largest Cloud Applications Vendors (Cloud Top 500) ranked by their 2014-2015 product revenues.

Their 2015 results are being broken down, sorted and ranked across 16 functional areas(from Analytics to Treasury and Risk Management) and by 21 vertical industries(from Aerospace to Utility), as shown in our Taxonomy. Further breakdowns by subvertical, country, company size, etc. are available as custom data cuts per special request.

Definition Of Treasury And Risk Management (TRM) Applications

Treasury and Risk Management applications are designed to automate corporate and banking functions pertaining to managing cash and liquidity, identifying and measuring financial risks as well as other assets, collaterals and underlying instruments that could impact an organization’s ability to sustain itself financially and operationally, while meeting regulatory requirements.

Schematic View of Treasury and Risk Management Applications and Their Functions
Schematic View of Treasury and Risk Management Applications and Their Functions

The market for treasury and risk management applications covers standalone and/or integrated products that automate business processes to support corporate treasury operations (including the treasuries of financial services enterprises) with the corresponding financial institution functionality and optimize related cash management, deal management, and risk management functions as follows:

  • Cash management automation includes both discrete and interlocking treasury processes involving electronic payment authorization, bank relationship management, cash forecasting, and others.
  • Deal management automation includes processes for the implementation of trading controls, the creation of new instruments and asset classes, market data interface from manual or third-party sources, and others.
  • Risk management automation includes performance analysis, various metrics calculations used in fixed-income portfolio analysis, market-to-market valuations, energy trading and risk management, and compliance with regulations and standards such as Basel III, Dodd Frank, European Market Infrastructure Regulation, Financial Accounting Standard, International Financial Reporting Standards, Single European Payments Area, Solvency II, and others.


Research Methodology

Each year our global team of researchers conduct an annual survey of thousands of enterprise software vendors by contacting them directly on their latest quarterly and annual revenues by country, functional area, and vertical market. We supplement their written responses with our own primary research to determine quarterly and yearly growth rates, In addition to customer wins to ascertain whether these are net new purchases or expansions of existing implementations.

Another dimension of our proactive research process is through continuous improvement of our customer database, which stores more than one million records on the enterprise software landscape of over 100,000 organizations around the world. The database provides customer insight and contextual information on what types of enterprise software systems and other relevant technologies are they running and their propensity to invest further with their current or new suppliers as part of their overall IT transformation projects to stay competitive, fend off threats from disruptive forces, or comply with internal mandates to improve overall enterprise efficiency.

The result is a combination of supply-side data and demand-generation customer insight that allows our clients to better position themselves in anticipation of the next wave that will reshape the enterprise software marketplace for years to come.

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