COPS

What COPS does

COPS GmbH, founded in 1979 and headquartered in Vienna, is a privately held specialist vendor of IT solutions for the financial industry, employing 101-250 staff across offices in Austria, Germany, and the Czech Republic. The company develops and maintains two core products: corima, a modular Treasury Management System (TMS) covering front-office, back-office, cash management, liquidity planning, risk management, accounting, ALM, collateral management, hedge accounting, and trade finance; and PMS, a portfolio and risk management engine acquired in source-code form from Much-Net GmbH in July 2021, which functions both as a standalone system and as the integrated calculation core within corima. The architecture is modular and standards-based, with documented integrations to SAP, JD Edwards, Power BI, 360T, Finastra, SWIFT, EGon, Guarantee Vault, and multicash, enabling deployment at both banks and corporate treasuries.

The business serves banks (DZ BANK, BAWAG, Hypo NOE, Addiko, Raiffeisen Informatik), insurance and pension entities (Wüstenrot), asset and fund managers, and corporate treasuries (voestalpine, Otto Group, Heidelberg Materials, EnBW, Mutares, iSi Automotive, INNOMOTICS, Hapag-Lloyd, Hochtief), with a primary DACH focus and select Czech coverage. Revenue is generated through enterprise subscriptions and annual maintenance for corima and PMS, PMS source-code licensing and continued development, and professional services including implementation, customization, training, and first-level support delivered by in-house specialists. Go-to-market is exclusively direct enterprise sales supported by industry conferences (Finanzsymposium, Bankenkongress KURS), the annual COPS UserTreff user meeting, and a network of competence and consulting partners, most notably a March 2026 alliance with KPMG Austria in Risk and Treasury Management. Pricing is quote-based and not publicly disclosed.

Name

COPS

Legal name

COPS Gesellschaft für angewandte Systemanalyse und Programmierung Ges.m.b.H.

Website

https://copsgmbh.com

Company type

Private

Founded year

1979

Operating status

Operating

Headcount range

101–250 employees

Short description

COPS GmbH is a Vienna-based, founder-owned software vendor founded in 1979 that develops the modular corima Treasury Management System and the PMS Portfolio and Risk Management software, serving banks, insurers, asset managers, and corporate treasuries across the DACH region with direct enterprise sales and consulting services.

Ownership category

akta.pro rank

Headquarters

HQ city

Vienna

HQ country

Austria

HQ region

Europe

Offices5 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Software Licensing and Subscriptions: COPS generates revenue primarily through licensing of its proprietary software solutions corima TMS and PMS. Given the long-term customer relationships (40+ years) and modular nature of the software, revenue is recurring in nature with annual maintenance and support fees. Both products are deployed as enterprise solutions with multi-year contracts.
2. Consulting and Implementation Services: Revenue generated from professional consulting services including project management, system analysis, implementation, customization, training, and first-level support. Services are delivered by in-house specialists covering areas from ALM to hedge accounting, from booking entries to complex instrument valuation.
3. PMS Source Code Licensing and Development: Following the 2021 acquisition of the PMS software license from Much-Net GmbH, COPS generates revenue from continued PMS development and customer support for existing Much-Net customers.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

COPS develops, licenses, and supports modular financial software for treasury, risk, and corporate finance. Its flagship product, corima, is a Treasury Management System (TMS) covering front-office, back-office, cash management, liquidity planning, risk management, accounting, ALM, collateral management, and hedge accounting. COPS also offers PMS (acquired from Much-Net in 2021) for portfolio and risk management, and delivers consulting, implementation, and support services for banks, insurers, fund managers, and corporate treasuries.

Product overview

COPS offers a modular software ecosystem centered on corima, a Treasury Management System (TMS), combined with corima.PMS (Portfolio and Risk Management). The corima platform is the core TMS providing front-office transaction management, back-office processing, cash management, liquidity planning, risk management, accounting, hedge accounting, collateral management, ALM, and private banking capabilities. corima.PMS serves as both a standalone portfolio management system (acquired from Much-Net in 2021) and an integrated calculation engine within corima for risk and valuation functions. The two products share a modular architecture, allowing customers to acquire only needed components. Solutions target banks, insurance companies, investment fund companies, asset managers, and corporate treasuries across the DACH region.

Differentiator

Problem solved

Functional benefit

Products and services

• corima Modular Treasury Management System (TMS) for implementing comprehensive solutions across all areas of Treasury and Corporate Finance, including front-office, back-office, cash management, liquidity planning, risk management, accounting, and corporate treasury operations. Targets banks, insurers, asset managers, and corporate treasuries.
• PMS Portfolio and Risk Management Software acquired from Much-Net GmbH. Manages treasury and fund portfolios, valuations, risk analysis, and front-to-back process control. Used as both a standalone product and as an integrated calculation core within corima.
• corima.Finanzstatus Group-wide financial status reporting module supporting multi-currency conversion, flexible filtering, and integration with Power BI reporting.
• corima Trade Finance with Guarantee Vault

Quantifiable outcome

• 75% reduction in external FX transactions and ~33% reduction in external FX trading volume at voestalpine through automated netting process
• +3 more outcomes

Named customers16 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration9 records

Feature7 records

Partnerships

Three partnerships are on record, tiered core and minor.

• KPMG AustriacoreImplementation/ SI/ Consulting Partner · 26 March 2026COPS is an alliance partner of KPMG Austria in Risk- and Treasury-Management. KPMG is Austria's market leader in this area and advises financial service providers and corporates with specialist and regulatory depth. COPS corima software complements KPMG's advisory services. Roles are clearly defined: KPMG handles specialist consulting, use-case design, governance, and regulatory classification; COPS handles technical implementation, data integration, parametrization, migration, and operational preparation. The partnership extends beyond implementation to ongoing operations, regular reviews, and regulatory change support.
• Much-Net GmbH (Bonn)coreOEM/ Whitelabel/ Licensing Partner · 1 July 2021COPS acquired a perpetual license to the PMS (Portfolio and Risk Management Software) from Much-Net GmbH Bonn, including full source code. COPS assumed customer support for existing Much-Net customers. Coupa (parent of Much-Net) integrated parts of PMS into its own corporate treasury tool but discontinued PMS as standalone. COPS now develops PMS independently. Partnership dates to the 1990s.
• X-Wert BankTechnology GmbHminorImplementation/ SI/ Consulting PartnerX-Wert BankTechnology is a competence partner providing support in selection, implementation, migration, and operation of core banking systems with a focus on openness and future-oriented technologies.

Scale indicators6 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Finastra: London-headquartered large banking software vendor offering treasury, capital markets, lending, and core banking solutions. A broader incumbent that overlaps with COPS' banking treasury offerings while competing at much larger R&D and sales scale.
• SAP Treasury and Risk Management: SAP's broader treasury and risk management solutions are embedded within the S/4HANA Finance suite and compete with corima for large enterprise treasury seats in DACH. SAP has far larger scale and cross-application footprint, while COPS competes on depth of treasury domain specialization.
• FIS Treasury and Risk Manager: FIS provides Treasury and Risk Manager solutions as part of its broader financial software portfolio. A much larger incumbent competing with COPS on integrated treasury and risk platforms, particularly at large global banks.

Direct peers

• msg (msg group): German IT consulting and software firm with a dedicated banking division offering treasury, risk, and core banking solutions. Competes with COPS primarily in German-speaking markets on similar financial software stacks.
• PSI Software: Berlin-based PSI provides software for banks, insurers, and energy utilities, including treasury, risk management, and ALM solutions. Comparable to COPS in German-speaking market focus and product type.
• Serrala: Hamburg-based specialist in treasury and finance software for corporates and banks, serving DACH-region enterprises with cash management, payments, and treasury management modules. Directly comparable to COPS in target customer, regional focus, and product scope (TMS).
• TIS (Treasury Intelligence Solutions): German-founded (Walldorf) cloud platform for enterprise-wide payments, bank connectivity, cash management, and liquidity. Targets the same corporate treasurer and financial institution buyer as COPS and competes directly on cloud-native TMS functionality.
• Calypso Technology (ION): Calypso, now under ION Group, provides a unified cross-asset platform for capital markets, treasury, and risk. Directly comparable to COPS for treasury, risk management, and hedge accounting at banks.
• Murex: Paris-based provider of the MX.3 platform for trading, risk management, treasury, and post-trade processing across capital markets. Direct competitor to COPS for treasury and risk workloads at banks and large corporates.
• Wallstreet Suite (ION): Wallstreet Suite, part of ION Group, is a leading treasury management system serving corporates, banks, and asset managers. Direct functional overlap with corima on front-to-back treasury, FX, money market, and hedge accounting.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/cops-gmbh
• Facebookfacebook.com/profile.php

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about COPS