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Implementation Best Practices: What We Learned Along the Way

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Implementations are a critical path to the success of using a treasury management solution alongside other financial systems. In this roundtable, Micron and Ryerson will lead an interactive discussion to offer their perspectives of what to do - and not to do - to make your initial implementation and ongoing usage of a treasury management solution a thriving success.

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Implementation Best Practices: What We Learned Along the Way

  1. 1. Best Practices What we learned along the way 2
  2. 2. Ryerson • 175 years leading in metals service industry • Global steel processor and distributor • Presence in Asia and North America • Asset Based Lending • Restructured from 24 banks to 8 banks 3
  3. 3. 4 What did we do before Kyriba? • Excel based spreadsheets • Error prone • Auditors complained…ok we all complained • Multiple bank log-ins to gather data • Time consuming…oh all the key fobs! • Processed wires in bank portal • Logging into the bank portals one more time
  4. 4. Why did we choose Kyriba? 1. To track daily cash and liquidity positions 2. To process payments in one location 3. Ability to customize reports 4. Improve SOX controls 5. Automate and track debt positions “The whole point of Queen was to be original.” Freddie Mercury Choosing Kyriba allowed us to be original in our templates and processes 5
  5. 5. What we wanted: Accurately track daily cash and liquidity What we got: The ability to produce a daily cash based income statement 6
  6. 6. What we wanted: Process payments for multiple banks in a single location What we got: The PAYMENT DASHBOARD! 7
  7. 7. What we wanted: Produce reports we actually need What we got: Reports we can customize, schedule, and automate 8
  8. 8. What we wanted: Improve SOX controls What we got: Dual approval Audit Trails 9
  9. 9. What we wanted: To track debt and manage liquidity What we got: Financial Transactions module Loans, lines of credit, variable balance, bonds, letters of credit Debt schedules 10
  10. 10. What did we learn from the process? Leverage the knowledge your implementation team brings to the table Integrated Canadian treasury functions in 2016 Requested a process review in 2018 11
  11. 11. What did we learn from the process? Use your bank implementation team The bank side was necessary to get Canadian banks reporting into Kyriba. 12
  12. 12. What did we learn from the process? Be realistic about the journey. The bank needs time to process data files. Time and thought to create usable reports and schedulers. Life happens! 13
  13. 13. What did we learn from the process? See every complication as an opportunity to learn All this experience will make you an expert! 14
  14. 14. What did we learn from the process? Take the time to review your progress. For as far as we have come in the process we still have more we’d like to do. 15
  15. 15. David Mazzola Senior Treasury Manager 16
  16. 16. 17 Implementation at Spotify • Spotify implemented Kyriba in 2014 • Global deployment, headquartered in Sweden • Modules include: Cash Management & Accounting BAM Payments Investments & Debt FX & Hedge Accounting
  17. 17. 18 Implementation at QBE Insurance • QBE also went live with Kyriba in 2014 • Staggered global deployment, headquartered in Australia • Modules include: Cash Management & Accounting BAM Payments Investments FX & IR Derivatives
  18. 18. 19 Questions for David We had a session yesterday called ‘Implementation 2.0’, discussing how to improve an existing implementation What have you learned from your first Kyriba implementation that is proving useful at Spotify?
  19. 19. 20 Questions for David How important was it to Spotify that you had Kyriba implementation experience already? What was the biggest difference you noticed with the Kyriba setup at Spotify?
  20. 20. 21 Questions for David What do you think about treasury ‘bots and the prospects for artificial intelligence in treasury?
  21. 21. 22 Questions for David What do you plan to do next with Kyriba? How do you justify additional resources being directed to the TMS?
  22. 22. THANK YOU 23

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