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Best Practices

Evaluating Treasury Management Systems

Best practices for obtaining deeper clarity on, and confidence in, treasury software decisions.

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The processes of evaluating, selecting, and implementing treasury software can be daunting and time-consuming. Using best practices in planning the rollout of a treasury management system will help ensure that a company launches the initiative with a clear understanding of its objectives and priorities. Unfortunately, though, even when the plan is well-thought-out, the software selection and subsequent implementation efforts contain a series of challenges.

Employing a proven approach to the selection process is essential to ensuring a successful outcome. The ultimate goal is to identify a vendor that can meet the company’s current needs and continue to support it as its needs evolve. The vendor must possess a product with robust functionality, as well as a client-centric service and support model. Each step of the evaluation process should be devised to obtain valuable input that helps in the assessment and differentiation of the competing vendors.

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