Undertaking a TMS initiative is a daunting process. Despite the rise in popularity of TMSs, there are still many companies that rely on spreadsheets and banking platforms. Why? Because even with the most elegant of solutions, implementing a good TMS takes a good deal of time, effort and money. Click her for more information about how to get the full report.
This 42-page report gives you the real-world experience and best practices of treasury professionals at world-class corporates, who have devised and shared a set of principles that will ensure your successful selection, implementation and maintenance of a TMS.
For instance, practitioners will learn that communication is a two-way street when it comes to implementation, and identifying a treasury liaison with accompanying IT knowledge able to “speak both languages” and facilitate collaboration. This is critical for productive interaction as the survey illustrates: a world-class support model requires dedicated IT support with a single point of contact and a rapid response capability in order to optimize treasury productivity with the processes supported by the system. The latter requires regular treasury interaction with its support resources, but the IT resource reality means they will not likely be treasury owned.
The report comes from the collective experience of more than 80 member companies of The NeuGroup Network and highlights the best of peer-validated best practices. The members, working alongside industry experts, developed and participated in the survey, and subsequently analyzed and discussed the results to formulate a set of principles that will drive your successful treasury technology initiative.
The World-Class Principles include:
- Understanding the principles that drive a successful treasury technology initiative and that allow treasurers to make the best informed choices for their particular company circumstances.
- Pinpointing some of the best practices and principles in selecting and implementing a treasury technology solution that enables a world-class treasury organization, including the importance of choosing the right implementation team.
- Getting the support model right to ensure that treasury technology is being maintained, secured and updated effectively to enhance treasury productivity over its useful life.
- How to define a successful end-state and how to get there.
- The must-have functionality of a great TMS.
- Who should be on your TMS team?
- How to build a compelling business case.
- Tips on defining requirements and building an RFP.
- Cybersecurity and GRC Principles – It is not just an IT problem.