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Strategy for success in a global treasury technology project

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SOFA 2013

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Strategy for success in a global treasury technology project

  1. 1. Strategy for success in aglobal treasury projectSWIFT Operations Forum AmericasMarch 5, 2013
  2. 2. Introductions• Niklas Bergentoft, Director, Treasury Technology Practice Leader, Deloitte & Touche LLP• Matteo Monaco, Head of Sales, North America, SWIFT• Rene Schuurman, Director, Product Manager, Citi
  3. 3. Agenda• Industry Drivers and Technology Trends• Technology & Integration• Where does SWIFT fit into the equation?• The corporate challenge• Benefits that can be realized• Lessons to learned from corporate treasury transformations / SWIFT implementations• Q&A
  4. 4. Industry Drivers for Treasury Transformations for 2013+ Keep abreast of changing market Think strategically of treasury conditions transformation opportunities Continued volatile market conditions and  Company-wide cash and liquidity evolving regulations require improved management programs are a must information management and reporting  “Piggyback” treasury objectives on capabilities organization-wide technology/process Maintain financial flexibility with funding initiatives to help drive the business case strategies across multiple options  Bundle initiatives to drive business cases Implement robust control processes to Reassess banking relationships with a monitor operational & financial risks view towards future growth strategies that come with growth and plans Close coordination with businesses,  Long-term view of requirements across a regions to identify issues and mitigants broader network Implement policies, controls and ensure  Rationalize providers to improve operating ability to monitor and cost efficiency
  5. 5. Technology & Integration Cloud technology and improvement in • Requirement definition and ERP treasury modules are changing the technology assessment are landscape critical TWS and ERP solutions offer great • Trusted, credible partners client facing solutions, bank integration remains a challenge • Comprehensive set of Funding of complex integration projects functionality and controls increasingly challenging • Rapid implementation A universal need for true turn-key model integration solutions
  6. 6. Where does SWIFT fit into the equation? Single, standardised gateway • Connectivity Corporate - Direct – On-premise - Alliance Lite 2 – Cloud basedAccounts payableAccounts • Secure Messagingreceivable - FIN, FileAct, InteractTreasury Standardised • Standards gateway - MT, MX, proprietary Other • Translation/Integration - SWIFT to non-SWIFT formats• Benefits (e.g. BAI to 940) - Lower cost - TMS/ERP integration - Transparency and view on cash - Increased control and security • On-Boarding - Reduced risk
  7. 7. The corporate challengeCorporate What resources should I engage in a global treasury project?perspective What executive buy-in is required? Do I have the resources for the implementation and on-going support of this initiative? How does my department compare with peer corporations in my industry and across industries? Is the appropriate technology in place to support the companies current requirements? How do I get started? What’s the risk of doing nothing? How to optimize investments in technology and SWIFT?
  8. 8. Success Factors & Lessons Learned Training on new processes and technology Integration • Focus on bank connectivity strategy • Assess what systems and data are key to the business processes Develop your transformation roadmap Considerations and Challenges • Create a cross functional team (internal resources, advisory firm, banks, SWIFT, vendors) • Selection of service providers • Contracting with vendors and banks • Rationalizing banks / accounts • SWIFT/Service Bureau/ Aggregation services • File/Message transformation approach (in house, vendor, service bureau) • Variances of bank message formats / change of bank platforms
  9. 9. Benefits that can be realized Corporate user Bank provider• Apply best practices for processes and • Full Straight Through processing of roles/authorizations messaging• Standardization and centralization of • Standardized integration for corporate treasury activities users• Cost reduction from efficiencies and • Integrated experience across access process improvements channels from online to mobile• Simplify/optimize banking structure • Harmonization of MT messages across banks to reduce customizations• Increased visibility and transparency• Transition from reactive to proactive
  10. 10. Q&A? 10
  11. 11. THANK YOU!Matteo Monaco1.212.455.1844matteo.monaco@swift.com
  12. 12. Panel discussionDeloitte• What are the biggest challenges corporates face planning a treasury transformation?• How does SWIFT fit in? When does it make sense to include SWIFT?• Where should a client start? When is best to create a roadmap?• Should a corporate have executive sponsorship?• When is it best to evaluate a new treasury platform?• When does a project get too big?Citi• How do you best serve your corporate client?• When is the optimal time to engage the bank in a technology initiative?• Is there a best practice in treasury implementation• When does it make sense to recommend SWIFT?• Is Citi launching a service bureau?• Do the vendors have the cash management expertise for these types of projects?• Does Citi offer resources to help with format recommendations?SWIFT• Do the banks understand the challenges when it comes to the ‘standards’ within the standard?• When is optimal to include SWIFT in the initiative?• How can SWIFT help with the standardization of implementations?• What resources should a corporate get involved in format selection? 12

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