Top TRM Applications Vendors

In 2013, the Treasury and Risk Management(TRM) applications market rose 8.5% to reach $2.2 billion in license, maintenance and subscription revenues. The decent growth reflected the continuing rebound of key constituents such as banks and multinationals as they reinvested in new applications to help them mitigate risks and automate critical functions from cash management to hedge accounting.

 

In addition the migration from traditional on-premise implementation to Cloud-based TRM applications was a key driver behind the growth of a number of vendors including Bellin, Kyriba, and Reval. In fact, Reval was the fastest-growing TRM applications vendor among the top 10 in 2013, taking advantage of strong sales in both corporates and financial institutions around the world.

 

Last year Misys was the biggest TRM applications vendor securing a 13% share following its 2011 acquisition of Sophis and the subsequent merger with Turaz through a private buy-out deal from Vista Equity Partners.

 

SunGard Financial Systems was the No. 2 vendor in 2013 as it added incremental revenues from emerging markets, while streamlining its operations at home primarily through selling off noncore assets. China and India as well as countries in Eastern Europe and Latin America now represent as much as 10% of the business of SunGard Financial Systems, which now account for the bulk of its business selling financial and TRM solutions.

 

ION Trading zoomed to be the third-ranked vendor in the TRM applications market having acquired IT2 through Wallstreet Systems, Financial Software Systems, and Triple Point with the help of its parent TA Associates in 2013. ION Trading’s TRM revenues combined those of Anvil, Financial Software Systems, IT2, Triple Point, WallStreet Systems and its own ION Trading risk aggregation operations.

 

Here are the rankings of the top TRM applications vendors in 2013 and their market shares last year. 

 

Rank Vendor 2012 TRM Applications Revenues, $M 2013 TRM Applications Revenues, $M YoY Growth, % 2013 TRM Market Share, %
1 Misys 275 291.5 6.0% 13.0%
2 SunGard 253 256 1.2% 11.4%
3 ION Trading 158.2 173.5 9.7% 7.7%
4 SAP 125 130 4.0% 5.8%
5 IBM Algorithmics 110 120 9.1% 5.4%
6 Open Link Financial 70 80 14.3% 3.6%
7 Murex 60 66 10.0% 2.9%
8 Reval  50 60 20.0% 2.7%
9 Wolters Kluwer FRS Global/IRIS, CCH Sword 50 55 10.0% 2.5%
10 MSCI 51.8 54.8 5.8% 2.4%
11 Calypso Technology 40 45 12.5% 2.0%
12 Oracle 36 37 2.8% 1.7%
13 Sage Group 37 36 -2.7% 1.6%
14 Kyriba 26 33 26.9% 1.5%
15 Brady 27 32.4 20.0% 1.4%
16 Fiserv 31 32 3.2% 1.4%
17 Ventyx 28 29 3.6% 1.3%
18 Infosys Finacle 28 27 -3.6% 1.2%
19 JP Morgan Treasury 25 26 4.0% 1.2%
20 Trayport Contigo 22 24 9.1% 1.1%
21 Citi Transaction Services 20 22 10.0% 1.0%
22 SuperDerivatives 20 22 10.0% 1.0%
23 Simcorp 19 21.28 12.0% 1.0%
24 GTreasury 18 20 11.1% 0.9%
25 Clearwater Analytics 17 19 11.8% 0.8%
26 Kamakura Corporation 18 19 5.6% 0.8%
27 Bloomberg 17 18 5.9% 0.8%
28 Open Access Technology International 16 18 12.5% 0.8%
29 Bellin 15 17 13.3% 0.8%
30 Hanse Orga AG 14 16.8 20.0% 0.8%
31 Temenos T-Risk 15 16.5 10.0% 0.7%
32 Cegid 15 16 6.7% 0.7%
33 FinancialCAD Corporation 15 16 6.7% 0.7%
34 Imagine Software 14 16 14.3% 0.7%
35 Financial Sciences Corp. 13 15 15.4% 0.7%
36 Power Costs 15 14 -6.7% 0.6%
37 Chatham Financial 12 13 8.3% 0.6%
38 Lombard Risk 13.97 13 -6.9% 0.6%
39 Amphora 10 11 10.0% 0.5%
40 Towers Watson 9 10 11.1% 0.4%
41 Chesapeake System Solutions 8 9 12.5% 0.4%
42 Polaris Financial Technology 6 8 33.3% 0.4%
43 Trasset 7 8 14.3% 0.4%
44 Axiom Software Lab 6.5 7 7.7% 0.3%
45 Savvysoft 6 7 16.7% 0.3%
46 Allegro Development 6 6.5 8.3% 0.3%
47 SG|automatisering 5 6 20.0% 0.3%
48 Exalog 4 5 25.0% 0.2%
49 Microgen 4.5 5 11.1% 0.2%
50 Pioneer Solutions LLC 4 5 25.0% 0.2%
51 COR Financial Solutions 3.5 4 14.3% 0.2%
52 Exigis 3.6 4 11.1% 0.2%
53 FiREapps 3.7 4 8.1% 0.2%
54 Aspect Enterprise Solutions 3.4 3.7 8.8% 0.2%
55 VisualRisk 3 3.5 16.7% 0.2%
56 Orbit Treasury Management System 2.5 2.7 8.0% 0.1%
57 CCK Financial Solutions 1.5 2.6 73.3% 0.1%
58 BancBridge Software 2.6 2.5 -3.8% 0.1%
59 Econintel Treasury Systems 2.2 2.3 4.5% 0.1%
60 Salmon Software 2 2.3 15.0% 0.1%
61 Technosis AG 2 2.2 10.0% 0.1%
62 MCC Software 2 2.1 5.0% 0.1%
63 Chase Cooper 1.5 2 33.3% 0.1%
64 SoftSmiths 1.5 2 33.3% 0.1%
65 Trinity Management Systems GmbH 1.5 1.7 13.3% 0.1%
66 Cashbook 1.3 1.6 23.1% 0.1%
67 NetTreasury 1.5 1.6 6.7% 0.1%
68 Chella Software 1.4 1.5 7.1% 0.1%
69 Treasury Curve 1 1.05 5.0% 0.0%
70 CS Lucas 0.8 1 25.0% 0.0%
71 Manex 0.8 0.9 12.5% 0.0%
72 Surya Software Systems 0.8 0.9 12.5% 0.0%
73 Baxtre 0.55 0.6 9.1% 0.0%
  Subtotal 1906.6 2054.0 7.7% 91.7%
  Other 158.4 186.0 17.4% 8.3%
  Total 2065 2240 8.5% 100.0%

Source: Apps Run The World, March 2014

 

For in-depth analysis of the performance of these top TRM applications vendors, please follow the link for their profiles, which are based on our SCORES methodology that measures their growth along six dimensions: Strengths, Customers, Opportunities, Risks, Ecosystem, Share. For more on our SCORES methodology, check here. Don't forget to look up our TRM taxonomy and hundreds of TRM customers that have been taking advantage of the latest innovation from these vendors.

 

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