Top Liquidity Software Solutions for 2025
Liquidity software is designed to track, monitor and maintain the cash position of a company. The overriding goal is to ensure, in simple terms, that the company does not go broke - today or tomorrow. This is the nitty gritty of financial survival.
The holy grail of liquidity software is to make the job of a CFO as easy as possible by offering "comprehensive liquidity": a single source of truth when it comes to cash flow, based on a real-time, detailed view of key metrics across all accounts, subsidiaries and currencies.
If, as a CFO, you know exactly what your cash position is now and - thanks to cash forecasting - what it is very likely to be, any liquidity gaps can be spotted and instantly nullified.
Cash and Liquidity Management Software: definition & role
Liquidity management software? Or cash management software? Aren't they the same thing? Well, yes - and together they make up a market estimated to reach $13bn by 2032 (according to Allied Market Research). But it's a little more complicated than the two being interchangeable.
The situation is more like that liquidity software has a boot in three camps: it sits at the intersection of cash management, cash forecasting and short-term financial planning:
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In managing cash inflows/outflows and offering visibility via a variety of liquidity tools, liquidity management software fulfils a cash management role for teams.
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Because - in order to mitigate risk - it must be able to predict future short-term liquidity on the basis of multiple data inputs (like integrated AP/AR/Payroll modules), liquidity software also fulfills a cash forecasting role.
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In necessarily having some involvement with budgeting and forecasting, liquidity software further fulfils a limited financial planning role. Certainly, liquidity plans over the longer-term involve stress-testing the company's liquidity in the face of imagined threats, involving the kind of scenario projections that Agicap, for example, offers onscreen so simply.
Liquidity is also typically considered to be a key treasury function (if not its main priority) alongside payments, risk, hedging and compliance. So liquidity software definitely overlaps with Treasury Management Systems (TMSs). And this is particularly the case when - like Agicap - liquidity platforms feature Working Capital management tools that actively minimise liquidity gaps by optimising AP and AR efficiencies.
Core liquidity management challenges
Liquidity planning matters because it determines not only whether a company becomes insolvent , but also whether it is has sufficient financial agility to identify opportunities and act on them, as well as enact all its corporate-level plans over the longer term.
Day-to-day cashflows inevitably have a huge impact on the strategic plans of a company. So its vital to get a grip at an operational level. Key challenges include:
Lack of real-time cash visibility: teams need a liquidity system which is connected on-demand or in real-time to bank accounts as well as linked AR and AP systems. Poor integration means cash data needs to be collected and cleaned manually - and then any cash insights come too late to make a difference.
Inaccurate forecasting: essentially, liquidity management boils down to forecasting, and then messaging, what is likely to happen quite soon in terms of cash. The message here must be based on data, and it must be simply presented on dashboards so everybody (including stakeholders with no financial training) can grasp it instantly. Enter streamlined forecasting solutions like Agicap...
Top liquidity management solutions (2025)
Below are ten popular applications in liquidity management software:
Software | Features | Advantages | Company Size |
|---|---|---|---|
Agicap | "Comprehensive liquidity" with cash flow planning, multi-source forecasting, scenarios, variance analysis, debt and investment management. | Known for its user-friendly liquidity management and cash flow forecasting. | >600 |
Kyriba | Treasury functions. | Known as a treasury platform foremost, with strong liquidity management. | >500 |
SAP Treasury & Risk Management | Centralised cash positioning. | Comprehensive liquidity and cash management solutions for large companies. | >100k |
Trovata | Real-time cash visibility. | Useful focus on cash flow automation and real-time key metrics. | ∼100 |
Cashforce | Real-time cash oversight. | Acknowledged emphasis on cash forecasting and working capital analytics. | <100 |
HighRadius | Cash forecasting. | AI-heavy treasury management with liquidity focus. | ∼5,000 |
Coupa Treasury | Real-time cash positioning. | Offers liquidity and cash management tools as part of its broader spend management platform | >3,000 |
Planful | Driver-based cash flow forecasting. | Known for its Financial planning and analysis (FP&A) capabilities, including cash flow management. | ∼700 |
AnaPlan | Driver-based cash flow forecasting. | Offers connected FP&A solutions, including cash flow and liquidity planning. | ∼2,500 |
Blackline Cash Application | Unapplied cash reduction (automatic). | Focuses on tactical cash management and reconciliation. | <2,000 |
Agicap
Recognized as Europe’s leading provider of comprehensive liquidity oversight to small and medium businesses, Agicap stands out from the crowd because it delivers actionable insights – without fuss. That’s down to its friendly interface, personalized customer support and simple integration of payment, spend and income modules.
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Strong connectivity options means Agicap’s eye on cash is accurate and as live as can be.
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Consolidation is clear and automatic – even across multiple business units.
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Powerful forecasting options highlight potential liquidity gaps as a matter of course.
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A generative AI assistant and a handy mobile app complete a very user-friendly liquidity application.
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Like Nomentia, Agicap is particularly strong in the area of European compliance and banking integrations
Kyriba
In comparison to Agicap’s powerful simplicity, Kyriba’s enterprise-grade offering might (like Nomentia) overwhelm medium-sized businesses.
On offer here is real-time cash visibility, AI-driven forecasting, and detailed risk management. As with Agicap, strong connectivity provides strong liquidity intelligence – with 1,000 banks and 10,000 ERPs covered automatically for integration.
SAP Treasury & Risk Management
This is a treasury suite first and foremost, embedded within an ERP – specifically SAP S/4HANA Finance.
It is popular with teams from multinational corporations needing control over investments and risk exposure, as well as liquidity oversight across multiple entities spread across the globe. Needless to say, its ERP integration with SAP is seamless.
Trovata
With 200 clients, Trovata serves fewer businesses than Agicap’s client-base of 7,000+ – but Trovata is firmly at the enterprise-grade end of the spectrum. This liquidity platform has over $100bn under management, offering AI-driven cash flow analysis, payment processing and – like SAP – a formidable treasury suite. Whereas Agicap does offer support for consolidating bank accounts across multiple entities, Trovata – like SAP – makes it a speciality.
Cashforce
Delivering complex ERP integrations, deep analytics and strong working capital modelling, Cashforce – part of Treasury Intelligence Solutions (TIS) - is designed with multinational firms in mind.
Excelling in complex, large-scale treasury operations for giant clients like Kellogg, Cashforce is (anecdotally) a lot more expensive than streamlined solutions like Agicap – and probably more than most mid-sized companies need.
HighRadius
What makes HighRadius stand out among liquidity software is its deep automation of Accounts Receivable. Invoicing collections, disputes and deductions are all native to the system, which means the software is actively improving liquidity all the time. What’s more, HighRadius’s cash forecasting has a lot of AI behind it, predicting payment behaviour and assessing customer risk.
Overall, this is a heavyweight package for large companies (with a reported price tag to match).
Coupa Treasury
Whereas Agicap would be described as a lean and user-friendly solution for businesses, Coupa Treasury is – as the name suggests - more treasury-oriented. This heavyweight platform is designed for treasury professionals, with a high degree of customisation possible.
Real-time cash visibility and AI-driven forecasting is on offer here that would suit larger companies, but possibly overwhelm smaller ones.
Planful
Advanced analytics are Planful’s point of difference. This is essentially a tool for Financial Planning and Analysis (FP&A) – with liquidity management in the short-term a necessary spoke in the wheel - but not the main focus.
Planful cannot match Agicap for intuitive User Experience (UX), ease of deployment, or AR/AP integration – but, with multinational clients like electronics giant Bose, it does offer advanced financial planning across multiple entities.
Anaplan
Similar to Planful, Anaplan focuses on FP&A. Active liquidity planning and management is possible with Anaplan, but its native form does not feature the built-in cash flow dashboards, forecasts and alerts that make Agicap, for example, an out-and-out liquidity player.
Improved shareholder return is very much the focus for Anaplan, rather than the daily nitty-gritty of cash flow liquidity of business units.
BlackLine Cash Application (BCA)
This application is designed to directly tackle a specialised liquidity issue – but does not provide liquidity oversight like Agicap, for example.
BCA handles the automation of cash application in Accounts Receivable. It uses AI to match incoming payments from customers to the relevant invoice issued by the firm using BCA – aiming for a 99% reduction in unapplied cash, and a 85% reduction in manual effort in this area.
Why Agicap is the smart choice for cash liquidity forecasting software
As a CFO, you don't control the big decisions in your company; your CEO does. So you personally may not be able to guarantee the firm's liquidity. But, with Agicap, you can guarantee to your Board that you have secured comprehensive liquidity oversight:
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Intuitive real-time cash visibility on customisable dashboards.
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Automated rolling forecasts powered by AI.
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Scenario planning to test liquidity assumptions on an ongoing basis.
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Variance modelling to optimise cash forecasts.
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Automated AR/AP integration with Agicap CashCollect and CashPayment.
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Rapid deployment - way easier to learn than Trovata.
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Inexpensive implementation (with a free trial) - way cheaper than HighRadius or Kyriba.
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Personalised customer support.
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A friendly User Interface (UI) designed for everybody.
Ready to take control of your cash flow? Book a free demo with Agicap today!
Liquidity planning software: real-world use cases
Agicap clients have discovered that business becomes easier when the financial risks of illiquidity are handled automatically:
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Fashion retailer E.T. Diffusion, a licensee of Café Coton, manages seasonal spikes in revenue using Agicap’s cash forecasting function. Sylvie Béteille, Financial Manager, says “Agicap is very easy to use … and is very intuitive.”
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“I believe that liquidity is the be-all and end-all for any eCommerce business.” Says Johannes Kliesch, founder of small e-retailer SNOCKS. Kliesch now trusts all liquidity oversight to Agicap, having found spreadsheets to be insufficient to the task of spotting liquidity gaps in the high volume flurry of e-commerce transactions.
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Centralizing all bank accounts upon a single platform allowed French nutrition specialists from Nutrisens to access constant liquidity monitoring – and, with 1,500 invoices a month to manage, this was a priority. With Agicap, Nutrisense reduced Days Sales Outstanding by 14%, and added 27% to revenue.
FAQ: liquidity software essentials
What is liquidity risk management software?
This is software designed to manage the risk of a company not having enough cash to meet its outgoings (ie. liquidity requirements).
What is a liquidity system?
A liquidity system is what firms use to manage short-term financial risks.
What is a liquidity management tool?
The key metrics of cash flow are the focus of liquidity management; using live inputs from ERP systems, bank accounts and linked AR/AP apps to assess a real-time position for cash and rule out financial risks.
What is the best banking liquidity software solution?
Large companies (enterprise grade) might need a multi-faceted treasury management package like Nomentia. Mid-sized companies are likely to favour the ease of use and modular scalability offered by Agicap, for example.
Why do people choose Agicap over Kyriba for liquidity management?
Independent site gralio.ai judges that, compared to Kyriba, Agicap "is a better fit for mid-sized businesses prioritizing user-friendliness and real-time cash flow insights with strong customer support."
