Best Treasury Management Platform for European Corporate Real Estate Groups with Complex Holding Structure
Published: November 21, 2025 | Verified by: Ted Scheiman & Rob Watts
Executive Summary
We analyzed 5 solutions. Top Recommendation: Kyriba for Real Estate, Liquidity & Risk Platform for Complex Property Groups by Kyriba scored highest.
Content Verification
Evaluation Criteria:
Side-by-Side Comparison
| Feature | #1 Kyriba for Real Estate, Liquidity & Risk Platform for Complex Property Groups (Kyriba) | #2 Nomentia Treasury Management, Multi-Entity Treasury for Pan-European Property Groups (Nomentia) | #3 Cobase Multibank Platform, Treasury & Cash Hub for Multi-Bank Real Estate Holdings (Cobase) | #4 TIS Treasury Platform, Global Cash & Payment Connectivity for Property Groups (TIS (Treasury Intelligence Solutions)) | #5 HighRadius Treasury Management, AI-First Forecasting for Multi-Entity Real Estate Portfolios (HighRadius) |
|---|---|---|---|---|---|
| Best For | Large European corporate real estate groups and REIT-style structures with many SPVs, cross-border bank relationships, and a need for enterprise-grade risk, liquidity, and bank-connectivity tooling. | Pan-European property investment and management groups that want a European-born TMS with strong multi-entity workflows, intercompany funding tools, and deep bank connectivity. | European corporate real estate groups and asset managers that work with a large number of banking partners and entities, and want to centralize bank connectivity, payments, and cash visibility without replacing existing banks. | Property groups and REITs that already have a TMS or ERP backbone and want a specialized connectivity and payments layer to unify global cash, forecasting, and payment compliance across banks and entities. | European real estate groups that already have some treasury infrastructure but want to add sophisticated, AI-based forecasting and multi-entity cash visibility for complex portfolios and funding structures. |
| Holdings Integration | Industry-leading ERP/financial-system connectivity; real estate deployments include Yardi ERP integration (e.g., Safehold) for payments/forecasting. (kyriba.com) Supports multi-entity holdings by centralizing cash and payments across management companies, funds, SPVs, and portfolio companies. (kyriba.com) | Holdings integration: Connects to ERPs (SAP, Oracle NetSuite, Microsoft Dynamics, etc.) via API/SFTP; consolidates group‑wide cash with entity‑level drill‑down; links to any bank via SWIFT, EBICS, host‑to‑host, and APIs; and exports to BI tools (Excel, Power BI) for reporting. (nomentia.com) | Supports multi-entity holdings: unified dashboards across banks and legal entities; entity-based segregation and approvals configurable per entity. (cobase.com) Statements and payments are automatically routed to the right entity and ERP-integrated via API/SFTP (SAP, Oracle, Microsoft). (cobase.com) | Integrates with ERP, TMS, and HR systems (notably deep SAP via the TIS Add-on) to centralize payments/cash across multi-entity holdings. (tispayments.com) Operates above your stack via APIs/plugins, connecting 40, 000+ entities and 85, 000+ bank accounts. (tispayments.com) Also supports eBAM/signatory rights management via Delega. (tispayments.com) | Pre-built connectors for 50+ ERPs (SAP, Oracle, Microsoft Dynamics, NetSuite, Infor, Sage) and 100+ banks enable source‑agnostic, multi‑entity integration with a global view across legal entities; intercompany mirroring automatically updates cash positions and forecasts. (highradius.com) |
| Cash Flow Visibility | Real-time liquidity insights with 100% cash visibility and control across all accounts and entities; consolidated cash positions via bank/ERP connectivity provide a single, up-to-date view to reduce borrowing and optimize working capital. (kyriba.com) | Centralized, real-time visibility into group-wide cash by consolidating bank and system data; dashboards report from group to transaction level. (nomentia.com) View daily and intraday balances, upcoming payments, reconcile accounts, and drill down by entity, bank, or currency. (nomentia.com) Liquidity module adds short/long‑term cash‑flow forecasts, actuals vs. forecast, and scenario analysis. (nomentia.com) | Cobase provides consolidated, multi-bank cash visibility with real-time/intraday balances and end‑of‑day statements, role‑based dashboards, alerts, and standardized ERP exports across entities and currencies. (cobase.com) Its Liquidity & Cash Flow Forecasting module blends ERP open items, scheduled payments, and real‑time balances, matching actuals to forecasts to improve accuracy and group liquidity planning. (cobase.com) | Real-time, 360-degree visibility of global cash and liquidity via unified dashboards, with drill‑downs by bank, entity, currency, country, and in‑house bank/cash‑pool structures. Aggregates bank statements and positions in same‑day or near‑real time through connectivity to 11, 000+ banks; integrates with ERPs/TMS for centralized reporting. (tispayments.com) | Real-time, global cash visibility across all banks, currencies, and entities via prebuilt bank/ERP connectivity; unified dashboards show cash positions and liquidity metrics. (highradius.com) Automated categorization/auto-tagging of transactions (up to 98%), daily cash position snapshots, and consolidated multi-entity views improve monitoring and forecasting accuracy. (highradius.com) |
| Custom Reporting | Open Reports Studio Excel add-in enables custom, ad‑hoc reporting: Excel formulas + Kyriba functions/APIs, one‑click real‑time refresh, two‑way Excel↔Kyriba exchange; Windows/Mac, macros, bespoke UI. (admin.main-bvxea6i-f4qo6e7ncusey.us-2.platformsh.site) Self‑service BI supports building custom interactive dashboards. (ctmfile.com) | Self-service, customizable reporting: drag-and-drop dashboards and filters across multi-source data; define KPIs, automate report creation, and track performance. Export to Excel/Power BI via Nomentia Data Cube; mobile access supported. Consolidates bank and system data into centralized reports. (nomentia.com) | Custom dashboards/reports with charts, tables, filters; group by bank, entity, currency; drill-down; role-based access. Export dashboards or visuals to Excel/PDF/image; data export also in CSV/XML. Automated, schedulable reports. Reusable dashboard templates and sharing. Transaction labelling supports custom label sets that can be filtered/grouped in reports. (cobase.com) (cobase.com) (cobase.com) | Customizable reporting with global dashboards: build custom cash/liquidity reports; drill down by country, entity, currency; export to ERP/TMS or Excel/PDF; embedded BI supports C‑level reporting. (tispayments.com) | Customizable, real-time dashboards and liquidity reports; configurable views/filters by bank, entity, currency, or region; drill-down; export of audit-ready reports; and tracking of forecast variances and exceptions across modules. (highradius.com) |
Kyriba for Real Estate, Liquidity & Risk Platform for Complex Property Groups
KyribaCompany Information
Kyriba is a global leader in cloud-based treasury and risk management solutions, providing a Liquidity Performance Platform that connects, protects, forecasts, and optimizes cash flow, data, and financial strategies for organizations.
Keywords
Summary
Specialized treasury and liquidity platform for real estate developers, REITs, property managers, and investment firms, designed to centralize cash, funding, and risk across multi-entity structures, with real-time visibility into liquidity and advanced banking connectivity for large, pan-European portfolios.
Best For
Large European corporate real estate groups and REIT-style structures with many SPVs, cross-border bank relationships, and a need for enterprise-grade risk, liquidity, and bank-connectivity tooling.
Key Features
- Real estate, specific positioning for developers, REITs, and property managers, with benchmarks from existing real estate clients.
- Advanced bank connectivity to a wide network of global and local banks, simplifying multi-bank, multi-country structures common in European property holding groups.
- Real-time cash and liquidity visibility across all accounts and entities, enabling group-level and SPV-level views of cash pools and restricted accounts.
- Centralized payments hub to orchestrate capex, debt service, and operating payments while enforcing controls and reducing fraud risk across entities.
- Risk and FX management modules to manage interest-rate and currency exposure on cross-border property financing and intercompany loans.
Pricing Details
Pricing is typically structured around modules (cash & liquidity, payments, risk, bank connectivity) and the number of entities, banks, and regions in scope; independent comparisons highlight Kyriba as a full-suite TMS aimed at multi-entity, global organizations rather than SMBs.
Limitations
Implementation and configuration can be heavy for smaller property groups; best aligned to organizations that can invest in a formal treasury function and TMS project, and that want to standardize across many entities and banks.
Detailed Comparison
Holdings Integration
Cash Flow Visibility
Custom Reporting
FAQs
How does Kyriba handle complex SPV and holding structures typical in real estate?
Kyriba’s TMS is built for multi-entity, multi-bank environments and is positioned as well-suited for global, multi-entity organizations; real estate resources emphasize group-wide visibility and connectivity across many bank accounts and entities, which maps directly to SPV-heavy holding structures.
Can Kyriba support European regulatory and reporting requirements for property groups?
While not a regulatory reporting engine on its own, Kyriba consolidates bank data, cash positions, and risk exposures across entities and regions so treasury can feed accurate numbers into local reporting, IFRS/GAAP accounting, and lender covenant monitoring for European portfolios.
Case Studies
- Kyriba highlights real estate customers achieving full cash visibility, reductions in idle cash, and significant savings in year one by centralizing liquidity and payments on its platform.
Nomentia Treasury Management, Multi-Entity Treasury for Pan-European Property Groups
Summary
European SaaS treasury suite focused on bank connectivity, cash visibility, intercompany finance, and treasury workflows, used by groups such as Engel & Völkers to manage payments and liquidity across many legal entities and countries.
Best For
Pan-European property investment and management groups that want a European-born TMS with strong multi-entity workflows, intercompany funding tools, and deep bank connectivity.
Key Features
- Centralized visibility into group-wide cash positions, retrieving data from all banks and internal systems so groups can monitor liquidity by entity, region, and currency.
- Treasury workflows module to automate processes like guarantees, intercompany loans, bank account management, and derivatives across multiple units and systems.
- Loan management capabilities for both external bank loans and intercompany loans, including forecasting cash flows and handling various loan structures, which is valuable for leveraged property vehicles.
- Guarantee and LC management to maintain visibility into group-wide guarantees and letters of credit, often used in development projects and asset financing.
- European-focused bank connectivity-as-a-service and payment hub modules integrated with the treasury stack, processing over €1 trillion in payments annually.
Pricing Details
Nomentia prices modules such as Payments, Cash Management, and Treasury Management separately, with total cost driven by users, entities, transaction volumes, and chosen modules; it is positioned as a category leader in European treasury and cash management rather than an entry-level tool.
Limitations
Optimized for corporate treasury teams; smaller local property owners without dedicated treasury staff may find the platform more than they need, and complex workflows require thoughtful design during implementation.
Detailed Comparison
Holdings Integration
Cash Flow Visibility
Custom Reporting
FAQs
Is Nomentia proven in real estate use cases?
Yes. Engel & Völkers, a global real estate services group with entities inside and outside Germany, uses Nomentia’s cash management modules to simplify daily payments and gain better liquidity visibility across all group entities.
Can Nomentia handle intercompany loans and internal banking within a holding structure?
Nomentia offers dedicated modules for loan management and in-house banking, allowing groups to centralize intercompany lending, incorporate loan flows into forecasts, and manage external and internal loans with workflow-based processes.
Case Studies
- Engel & Völkers uses Nomentia Payments and Cash Management to manage payment processes and liquidity across multiple entities in and outside Germany.
Cobase Multibank Platform, Treasury & Cash Hub for Multi-Bank Real Estate Holdings
CobaseCompany Information
Cobase is a multibank platform that combines the services of Payment Hubs, Service Bureaus, and Treasury Management Systems in one solution. It streamlines financial operations by providing seamless integration between cloud-based ERP systems and banks, enabling secure connections, and offering customizable financial dashboards for managing payments across multiple banks.
"Single point of access for all your payments, cash & treasury needs"
Keywords
Description
Cobase is a single point of access to all your banks and accounts for payments, cash and treasury management. Streamline operations, use a single portal and integrate your accounting or ERP systems with Cobase to connect all banks and accounts around the world. Expand capabilities with modules for in-house banking, cash pooling, cash flow and liquidity forecasting, foreign exchange and risk management, debt management, and money markets.
What They Do
Cobase provides a platform for payments, cash management, and treasury management, integrating with various banks and ERP systems.
Who They Serve
Corporates, private markets, and institutions.
Key Value Propositions
Target Customers
Industries Served
Contact Information
Key Pages
Summary
Multibank treasury and payments platform that provides one point of access to all banks and accounts, consolidating banking, cash visibility, and treasury modules for corporates with complex, multi-entity, multi-bank setups across Europe.
Best For
European corporate real estate groups and asset managers that work with a large number of banking partners and entities, and want to centralize bank connectivity, payments, and cash visibility without replacing existing banks.
Key Features
- Single platform to manage all bank connections, payments, and treasury operations, marketed to corporates regardless of how simple or complex their setup is.
- Bank connectivity-as-a-service that offloads the technical work of linking many European and global banks, including handling different formats and channels.
- Centralized cash visibility and payment workflows across multiple banks and entities, eliminating the need to log into separate bank portals and improving control over group liquidity.
- Treasury modules for cash management, forecasting, and risk, combined with payment hub capabilities in a single multibank solution.
- Industry-independent but use-case, specific configuration, allowing tailoring of forecasting models, approval flows, and reporting logic to real estate holding structures.
Pricing Details
Cobase offers modular pricing around bank connectivity, payment hub, and treasury modules; cost is typically driven by the number of banks, entities, and transaction volumes rather than a simple license per user.
Limitations
Cobase is strongest on multibank connectivity, cash, and payments; groups needing deep derivatives, hedge accounting, or highly specialized real-estate valuation modules may still need to integrate additional systems.
Detailed Comparison
Holdings Integration
Cash Flow Visibility
Custom Reporting
FAQs
Does Cobase replace our banks or existing VDR/ERP systems?
No. Cobase is bank-independent and ERP-agnostic; it sits between ERPs and all your banks, centralizing connectivity, cash visibility, and payment workflows while maintaining your existing bank relationships and core systems.
Can Cobase scale from a few property SPVs to a large, multi-country portfolio?
Yes. Cobase explicitly serves companies ranging from mid-sized groups with a few banks to multinationals with 100+ banks, and is designed to scale across growing bank and entity footprints.
Case Studies
- Cobase showcases clients ranging from mid-sized firms to multinationals, including European groups with dozens of banking partners, using the platform to centralize cash and payments across complex structures.
TIS Treasury Platform, Global Cash & Payment Connectivity for Property Groups
Summary
Cloud treasury and payments platform focused on transforming global cash flow, liquidity, and payment functions, with strong bank connectivity and payment hub capabilities that help real estate groups digitalize collections and disbursements across portfolios.
Best For
Property groups and REITs that already have a TMS or ERP backbone and want a specialized connectivity and payments layer to unify global cash, forecasting, and payment compliance across banks and entities.
Key Features
- Payments hub, cash visibility, and cash forecasting solutions aimed at helping CFOs and treasurers manage global cash and liquidity.
- Extensive bank connectivity and support for more than 11, 000 banking options, enabling centralized connectivity for large, multi-bank groups.
- Fraud prevention, sanctions screening, and payment compliance controls suitable for high-value real estate payments and cross-border structures.
- Focus on transforming fragmented global payments and cash operations into standardized, automated workflows for the entire office of the CFO.
- Thought leadership on digitalizing treasury payments in real estate, highlighting pain points like manual processes, fragmented bank portals, and lack of cash visibility.
Pricing Details
TIS is sold as an enterprise SaaS platform with pricing quoted case-by-case; marketplaces list pricing as available upon request, reflecting its focus on mid-sized to large organizations with substantial payment volumes.
Limitations
TIS is strongest as a payments and connectivity platform; while it offers cash and forecasting, groups needing deep in-house banking, complex loan/derivatives handling, or real-estate, specific modules may pair it with a full-suite TMS.
Detailed Comparison
Holdings Integration
Cash Flow Visibility
Custom Reporting
FAQs
Is TIS suitable for engineering, construction, and real estate sectors?
Yes. Industry resources list real estate among the sectors served, and the platform’s focus on multi-bank connectivity and cash visibility aligns well with capital-intensive property portfolios.
How does TIS help digitalize payments in real estate?
TIS promotes replacing fragmented payment processes with a payments hub, bank connectivity-as-a-service, cash visibility, and forecasting, emphasizing fewer errors, better fraud controls, and improved real-time cash insights.
Case Studies
- Organizations use TIS to standardize payments, bank connectivity, and cash visibility across global groups, with real estate highlighted as a sector benefiting from digitalized treasury payments.
HighRadius Treasury Management, AI-First Forecasting for Multi-Entity Real Estate Portfolios
HighRadiusCompany Information
"AI-Powered Value Creation for The Office Of The CFO"
Description
HighRadius provides cloud-based solutions for automating accounts receivable, accounts payable, treasury management, and financial consolidation & reporting. It integrates artificial intelligence to optimize financial processes and improve operational efficiency.
What They Do
HighRadius offers software solutions that automate various finance and accounting tasks for businesses, focusing on the office of the CFO.
Who They Serve
HighRadius serves companies across multiple industries, including manufacturing, retail, healthcare, technology, and financial services.
Key Value Propositions
Target Customers
Industries Served
Contact Information
Summary
AI-powered treasury platform that connects to multiple banks, ERPs, and data sources in real time, providing global cash visibility, multi-entity support, and advanced forecasting and scenario modeling for complex, geographically dispersed portfolios.
Best For
European real estate groups that already have some treasury infrastructure but want to add sophisticated, AI-based forecasting and multi-entity cash visibility for complex portfolios and funding structures.
Key Features
- Real-time connectivity to multiple banks and ERPs, centralizing cash management and supporting multi-currency and multi-entity operations.
- AI-driven cash forecasting and scenario modeling, enabling complex forecasts across entities and regions, useful for property groups with staggered capex and rental cash flows.
- Daily global cash visibility with automated categorization of inflows and outflows and dashboards for treasury teams.
- ERP-agnostic integration and no-code, Excel-like interfaces that simplify adoption without heavy IT involvement.
- Automation of treasury payments with built-in compliance and fraud reduction tools, complementing existing bank portals.
Pricing Details
HighRadius positions its treasury product as part of a broader autonomous finance platform; pricing is customized based on scope, entities, and modules, and the product is known for its strong AI forecasting capabilities rather than acting as a traditional full-suite TMS for smaller teams.
Limitations
HighRadius has a narrower treasury scope than some full-suite TMS platforms and is strongest in forecasting; groups needing extensive derivatives, hedge accounting, or specialized guarantee/LC tooling may use it alongside another TMS.
Detailed Comparison
Holdings Integration
Cash Flow Visibility
Custom Reporting
FAQs
Why consider HighRadius for real estate holding structures?
Real estate portfolios face volatile cash flows and layered capital structures; HighRadius’s AI-first forecasting and multi-entity support help treasurers model scenarios, monitor covenants, and manage liquidity across SPVs and funding vehicles while retaining bank and ERP flexibility.
Is HighRadius a full replacement for a classic TMS?
HighRadius is especially strong in AI forecasting and scenario modeling but narrower in traditional TMS breadth; many enterprises use it as a forecasting and automation layer in addition to, rather than instead of, a full-suite TMS.
Case Studies
- Enterprises use HighRadius to achieve daily global cash visibility and significantly improve forecasting accuracy across multi-entity, multi-currency operations, which is directly applicable to corporate real estate structures.
Our Ranking Methodology
How we rank these offerings
We ranked these treasury systems based on three key factors: Holdings Integration (40% weight), Cash Flow Visibility (35% weight), and Custom Reporting (25% weight). Kyriba for Real Estate scored highest because it excels in all three critical areas, particularly in advanced holdings integration and cash flow visibility, which are vital for managing the complex structures of large property groups across Europe.
Ranking Criteria Weights:
Frequently Asked Questions
- What are the typical costs and pricing models for treasury systems designed for large property groups?
- Pricing models for treasury systems in large property groups often include a subscription-based model, which can vary based on the scale and complexity of the portfolio. For example, Nomentia offers a SaaS model which provides flexible tiered pricing depending on the number of entities and volume of transactions. Kyriba and HighRadius may engage in a custom pricing approach, adjusting according to the specific modules or features needed, such as advanced forecasting or risk management tools. Implementation costs could also vary based on the degree of customization and the existing infrastructure of the organization.
- What are the key selection criteria and considerations for choosing a treasury management platform?
- A major criterion is the platform's ability to provide centralized cash, debt, and risk management for multi-entity structures, as seen with Kyriba's liquidity solutions. Interoperability with multiple banks and existing ERP systems is crucial, a strong feature offered by the Cobase Multibank Platform. Property groups should consider the level of automation for treasury workflows and payment processes, as high levels of integration reduce manual errors and improve efficiency. Additionally, platforms like HighRadius that offer AI-powered forecasting provide valuable insights for strategic decision-making.
- How do industry standards and compliance affect the implementation of treasury systems in real estate groups?
- Compliance with local and international regulations such as PSD2 and GDPR is essential for treasury systems. Platforms like TIS and Nomentia focus on strong bank connectivity and secure payment processing, which help meet these compliance standards. Ensuring that the platform adheres to anti-money laundering (AML) and know-your-customer (KYC) regulations is also crucial for maintaining operational integrity. These standards not only protect the organization but also facilitate smoother cross-border transactions and financial reporting.
- What are the implementation challenges and solutions for a treasury system in large-scale real estate portfolios?
- Common challenges include data consolidation from various sources and the need for robust change management. Platforms like TIS address these by providing scalable cloud solutions that easily integrate with existing systems. Training staff to adapt to new technologies is another hurdle, often mitigated by comprehensive user training sessions and ongoing support provided by platforms such as Kyriba. Ensuring seamless bank connectivity, as emphasized by Cobase, is also critical for facilitating efficient implementation across multiple banks and entities.
- What ROI and value delivery can be expected from implementing a treasury management platform?
- The primary ROI drivers include enhanced cash visibility and liquidity management, reduced operational costs, and improved risk mitigation. Platforms like HighRadius and Nomentia demonstrate the value of AI-driven forecasts, which support better investment and funding decisions. The automation of processes, such as that offered by TIS, reduces the time spent on manual tasks and errors, directly impacting operational efficiency. Property groups can also benefit from optimized interest income and minimized liquidity risks, leading to more strategic financial management.
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