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Implementation 2.0

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Everyone who implements a treasury management solution will at some point say "if I did it all over again". In this session, McKinsey and WeWork will discuss injecting new ideas and experience from their prior organizations into their own Implementation 2.0 scenarios. Key topics include taking an implementation in a new direction, exploring the difficult parts of cash management, picking the right tips and tricks to apply to your new 2nd Kyriba implementation, and how to blend old and new ideas together for a succesful Kyriba experience.

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Implementation 2.0

  1. 1. Implementation 2.0 2
  2. 2. 3 “It’s easier to fix this process later” “Sounds simple. How hard could that be?” “Treasury Management System feels more like a Treasury thing”
  3. 3. 4 STEP BACK AND ASK YOURSELF: HOW ARE WE DOING? Is Project Plan realistic? ▪ Unrealistic = Morale Killer! ▪ Align on expectations and communicate early when things change ▪ S.M.A.R.T. GOALS Are Stakeholders all-in? ▪ You can’t do it alone! ▪ Stakeholders must be owners ▪ Are the experts in the room? ▪ Do you understand the needs in detail? Is your Foundation strong? ▪ Document business requirements (Kyriba “blueprint”) ▪ Simplify → Standardize → Automate
  4. 4. SIMPLIFY! Consistent naming conventions across systems • e.g., Kyriba account codes also in ERP 5 YOU CAN’T BUILD ON A SHAKY FOUNDATION Simplified Account Code • Example naming convention: • ERP Company Code + Bank/Cur + 1234
  5. 5. 6 YOU CAN’T BUILD ON A SHAKY FOUNDATION STANDARDIZE! Workarounds can be quick wins, but beware of long-term problems • Use a mapping table so that Kyriba can allow for exchange of non-standardized data
  6. 6. Beware of quick wins! 7 YOU CAN’T BUILD ON A SHAKY FOUNDATION AUTOMATE! Standard account identifiers streamline your process and enables automation
  7. 7. • Build a reliable Core Data set • Kyriba to supply Cash & STI reporting • Use Kyriba for payments • Kyriba to house bank account population and balances, GLs, and legal entities by Q4 2018. Account balances to reconcile vs. GL by Q1 2019. • SSC payment files to execute via Blind Routing for 70% of locations by Q4 2019. Treasury payments to use Payments Module for Top 20 scenarios by Q1 2019. 8 DON’T BE A FOOL, SET S.M.A.R.T. GOALS DUMB S.M.A.R.T.
  8. 8. • US Banks will report BAI2 data into Kyriba • When a check debits a bank account, the check number is in the ‘reference’ field of the BAI2 • Kyriba can keep track of outstanding checks • (1) Finish implementing bank reporting • (2) Configure the Kyriba Cash Reconciliation term to ‘reconcile by reference’ • (3) Integrate a register of check issuances as ‘confirmed forecasts’ 9 SPOILER ALERT: YOU DON’T KNOW EVERYTHING! WHAT WE KNEW:
  9. 9. Every bank is unique… and so is their data • Check numbers usually report on BAI2 data with leading zeros • The amount of leading zeros reporting in the check number reference field differs by bank, sometimes even by branch • Bank scanners make mistakes, for example reporting Check number 128 instead of 123 10 SPOILER ALERT: YOU DON’T KNOW EVERYTHING! WHAT WE LEARNED
  10. 10. • Check numbers usually report on BAI2 data with leading zeros • The amount of leading zeros reporting in the check number reference field differs by bank, sometimes even by branch • Bank scanners make mistakes, for example reporting Check number 128 instead of 123 11 SPOILER ALERT: YOU DON’T KNOW EVERYTHING! • Custom logic in ERP to add leading zeros in the ‘Confirmed Forecast” file • Made logic granular enough to know the exact number of leading zeros to add to each individual account • Modified reconciliation configuration to alert end users (via the daily variance report) when banks report the wrong check number WHAT WE LEARNED WHAT WE CHANGED
  11. 11. 12 STOP, COLLABORATE, AND LISTEN 1. Pause. 2. Revisit original assumptions with stakeholders. 3. Discuss whether those assumptions have changed. 4. Decide to make changes before moving forward.
  12. 12. THANK YOU• Trish Fisher, WeWork • Marc Amadeo, McKinsey & Company • Alex Williamson, Kyriba 13

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