Implementing a new treasury management system represents a considerable investment for a company. When it comes to system selection, David Miller, treasurer at Hunt Companies, recommends spending the time to understand each product.
"The way it's demoed versus the way you actually use it are different in every situation," he said. "Until you actually use the product, you can't fully understand the way it works." If the vendor allows it, he suggests doing a proof of concept with one of the company's banks.
Bob Stark, Kyriba's vice president of strategy, noted that many companies now involve their IT staff in the process by having them assess the systems they're considering.
Continue Reading for Free
Register and gain access to:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world cas studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Susan Kelly
Susan Kelly is a business journalist who has written for Treasury & Risk, FierceCFO, Global Finance, Financial Week, Bridge News and The Bond Buyer.
