Recent acquisitions in the TMS industry mark the end of a prolonged period of consolidation that has created a more focused market. The driving force behind the latest round of mergers and acquisitions has been a flood of cash. Dissatisfied with the service they are getting or with their TMS supplier, treasurers are looking for replacement systems. Acquisitive suppliers reject suggestions that they have bought up rivals to terminate their products.ERP treasury modules have come a long way since they were first designed and may become more popular with treasury departments.