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Planning a Treasury Management System Implementation

Insufficient attention to planning undermines the project's chances of success. Here's how to help ensure that a new treasury management system will meet the company's needs.

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As market volatility, fraud, and cyber risks have become increasingly top-of-mind for corporate executives over the past decade, the visibility and importance of the treasury function have been elevated within the overall organization. Along with this enhanced position come increased expectations. As such, many treasury groups are looking to evolve their capabilities to better meet the needs of their management teams and boards.

One of the obvious places to start an evolution of the treasury function is to implement a new treasury management system, or upgrade existing systems, with the goal of improving cash and risk management decisions. Companies deploy treasury management systems expecting to achieve some of the following: process automation, enhanced cash visibility, process standardization, improved controls, optimized utilization of cash, reduced risk of fraud, and enhanced financial and management reporting.

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