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Treasury management is a multifaceted discipline pivotal to an organization’s financial well-being and resilience. As the global economic landscape continues to evolve and present new challenges, treasurers must adapt, innovate, and embrace strategic approaches to effectively meet the demands of their roles.
- Dashmeet Kaur
The more than 300 people at KPMG’s Global Financial and Treasury Network work closely together, giving you access to a high-performing team whose professional support can help you master challenges and achieve your goals. In line with the standard to deliver every project with quality, on time and on budget.
reduction strategies • Considers an increasingly important aspect of the treasurer’s responsibilities: risk management • Describes the technology that drives many treasury transactions Filled with extensive supporting examples, Treasury Management: The Practitioner’s Guide is the ideal sourcebook for the mechanics
Treasury Strategies, Inc. is the leading treasury consulting firm working with corporations and financial services providers. Our experience and thought leadership in treasury management, working capital management, liquidity and payments, combined with our comprehensive view of the market, rewards you with a unique perspective, unparalleled ...
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- Introduction
- Trends in treasury technology
- What influences treasury technology?
- Requirements on treasury technology are evolving
- FinTech — a driver of disruption
- Enhancement of treasury reporting
- Customization
- TMS landscape
- SaaS
- TMS selection and implementation approach
- Advancing the TMS investment
- Typical phases of a system selection process
- Planning and scoping
- Define business requirements and architecture
- RFP development and execution
- Vendor demonstrations
- Vendor selection
- How EY can help you with your implementation
- Resource responsibilities
- Treasury department
- The expected role of the TMS vendor
- The expected role of the implementation advisor
- Timing
- Success factors
The strategic importance of the treasury organization has increased steadily over the past few years and has impacted their structure and scope. Treasury organizations have become more important reflecting the increasing complexity of business strategies and are expected to continue to respond to the increasing pace of change. Finding the right res...
Current technology trends are: On the periphery of treasury, new and disruptive technologies introduced by financial services technology companies (FinTechs) are changing the way customers and businesses interact. Robotic process automation (RPA) is starting to change low value and repetitive work through enhanced automation, and artificial intell...
Treasury organization and development Regulation, tax and accounting changes Treasury operations and demand for eficiency and centralization Keeping pace with technological developments and requirements, including prevention from cyber attacks and supporting business continuity Seamless IT interfaces Dematerialization of paper Straight-through proc...
Increased pressure to cut costs New regulations New tax regimes Changing accounting landscape In-house bank and payment factory Demand for better information on exposures The technology landscape of a treasury function is driven by an enterprise IT strategy, which considers external and internal influences in defining the broad IT capabilities need...
The newer functionalities that FinTechs offer can have an impact on the design of a treasury group as they present opportunities for corporates to transact and receive financial services independently from banks or other established organizations and intermediaries. This trend has led TMS vendors to rethink their offering from both a functional and...
Reporting has always been an issue for TMS customers. TMS databases have complex table structures and vendors typically supply basic reporting tools through proprietary report writers. Reports either formally verify events or they are dynamic. Reporting requirements change all the time, which is why self-service, on-demand reporting is the preferre...
Customization and configuration are often used interchangeably, but there is a difference with significant consequences: Customization is a modification of the software that requires change in the code structure, such as database table change or API development, which typically requires some form of implementation. Configuration is where available...
Treasury applications tend to fall into two categories, TMS-focused vendors (specialists) and Enterprise Resource Planning (ERP)-focused vendors (generalists). Whereas the ownership structures across TMS vendors varies (public, private equity and privately owned), the ERP vendors tend to be publicly listed companies. The usual profiles of TMS vendo...
There is a clear market trend for TMS vendors to provide their products in the cloud. This trend allows treasury to become more independent from the IT function that is needed to support traditionally hosted systems. Some of the newer vendors in the TMS market focus solely on SaaS-based offers. Mature vendors with single-tenant systems have also in...
Prior to starting a TMS selection and implementation project, a clear strategy of treasury’s role and the target operating model within the business should be defined. To be successful, companies should include carefully weighted business requirements in order to determine critical requirements of the system deployment. Furthermore, implementing a ...
As companies strive to have the best possible return on their investments, the cost of a future TMS will also play a role in the decision-making process. It proves dificult for companies to quantify the value that new functionalities will have on treasury eficiency and control. As a result of our market insights, we are able to help you as you defi...
Selecting and implementing a “fit for purpose” TMS is a significant undertaking. In our experience, there are no two selection or implementation projects that are entirely similar. Although your specifics will always drive the selection process, we can provide an illustrative approach.
Every successful TMS selection and implementation starts with proper planning and scoping, whereby key stakeholders and project managers are identified and issue resolution protocols are defined. Justifying the business case of a TMS selection should be supported by the strategic growth of treasury operations related to the investment, meeting risk...
After defining the project plan and the scope of the implementation, it is important to identify and prioritize business requirements and the business architecture related to these requirements. After having done this with each process owner, a short list with potential vendors and systems can be created. The added value of these steps is that it i...
On the basis of prioritized treasury business requirements, we can support the development of a request for proposal (RFP) questionnaire, whereby a scoring methodology is used to give weightings to specific business requirements. After issuing a detailed RFP and receiving the input back, the outcomes can be scored on the basis of developed scoring ...
After you have established an understanding of the capabilities of the different vendors, it will be important to get a demonstration that gives you insight into the look and feel of the system. We recommend to develop a detailed script and scoring methodology for these demonstrations, which can help you keep the demonstrations on track and enable ...
On the basis of the information received and the weightings of the critical requirements of the RFP and the demonstrations and workshops, we can support the development of a ranking with vendors that match your requirements best. On the basis of this ranking and your organization’s preferences, your project team can make a final decision. Documenti...
We have experience working with clients to replace their current TMS. This experience has shown us that there usually is a significant amount of disenchantment with the client’s present system or the realization that the system has served its useful life. The reasons for the disappointment vary, from realization that the system was not a good fit, ...
A TMS implementation is a major project that requires a joint effort from the regular treasury organization, the TMS vendor and an implementation advisor.
The role of the treasury department will be to define the scope and the desired end-state. The implementation effort of a TMS will vary from several hundreds of hours up to more than a thousand hours, depending on the complexity of the treasury organization and the scope of the implementation. On the basis of the responses collected for this TMS gu...
The vendor will participate in design workshops and validate the future design of treasury processes. In addition, the vendor will review business requirements and address potential functionality gaps. During the testing phase, the vendor will resolve issues and implement necessary configuration changes. Moreover, the vendor will conduct prototypin...
On the basis of our experiences with TMS implementations and stories of successful or unsuccessful TMS implementations, we have determined that a TMS implementation is a time-consuming project that requires significant exertion from a treasury team. Further, a TMS implementation can require very specific knowledge and experience, and often such an ...
Every corporate organization differs at least slightly from each other, as do treasury management systems. This means that there will never be a cookie-cutter implementation blueprint or plan that can be copied and pasted from one organization to another. The timeframe of an implementation depends on the scope, complexity, availability and experien...
Our experience demonstrates that success of a TMS implementation project is highly dependent on the following: Detailed business process design: end-to-end detailed design of treasury processes based on overall business objectives, long-term strategy for the treasury function and proven industry practices prior to starting the configuration of a TM...
In Part One, we address the various methods by which a company transfers cash, both on paper and by electronic means, and then show how to create a cash forecast and monitor its accuracy. We then cover several methods for aggregating cash from a multitude of locations, so that funds can be more effectively dispositioned.
People also ask
Why is treasury management important?
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What is treasury technology?
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What is the Treasury strategic plan 2018–2022?
Strategic Objective 4.1: Financial Data Access and Use 30 Strategic Objective 4.2: Debt Management 32 Strategic Objective 4.3: Federal Financial Performance 34. Goal 5: Achieve Operational Excellence . 3. 6. Strategic Objective 5.1: Workforce Management 36 Strategic Objective 5.2: Treasury Infrastructure 38 Strategic Objective 5.3: Customer ...
