Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

Webinar slides: Transforming Your Treasury Function through a TMS Implementation

752 views

Published on

Investing in a Treasury Management System (TMS) is a major undertaking presenting both risks and opportunities. The full capabilities available in a TMS are rarely utilized as the typical approach is to replicate the current process with modest enhancements to the process.

In this webinar we discussed opportunities to uncover the full capabilities within your Treasury Workstation as well as best practices and lessons learned from over 1,300 TMS implementations.

Published in: Software
  • Be the first to comment

Webinar slides: Transforming Your Treasury Function through a TMS Implementation

  1. 1. Transforming Your Treasury Function through a TMS Implementation June 30th, 2016
  2. 2. © 2016 Kyriba Corp. All rights reserved. PROPRIETARY & CONFIDENTIAL. 2 Today’s Presenters Alysia Alcorn Kennedy, CFA Senior Manager RB Erickson Director, Global Sales Enablement
  3. 3. © 2016 Kyriba Corp. All rights reserved. PROPRIETARY & CONFIDENTIAL. 3 A – Adoption, not just implementation B – Business priorities C – Collaboration D – Documentation E – Expectations F – Flexibility ABC’s of a TMS Implementation
  4. 4. © 2016 Kyriba Corp. All rights reserved. PROPRIETARY & CONFIDENTIAL. 4 A - Adoption, not just Implementation The Goal is for the TMS to be used as an integral part of your liquidity and risk management, not just functionally implemented
  5. 5. © 2016 Kyriba Corp. All rights reserved. PROPRIETARY & CONFIDENTIAL. 5 1. Change management 2. Long-term support 3. Scalability Adoption Requires…
  6. 6. © 2016 Kyriba Corp. All rights reserved. PROPRIETARY & CONFIDENTIAL. 6  Both great processes without the right technology & great technology without the right processes lead to: – Inferior controls – A drain on resources – Poor information for decision making Change Management
  7. 7. © 2016 Kyriba Corp. All rights reserved. PROPRIETARY & CONFIDENTIAL. 7  Do’s – Centralize management of static data and configurations – Streamline all questions to vendor service desk through several individuals  Don’ts – Take for granted the state of the system when you go live • Daily management • Discipline for cleanliness – Underestimate the amount of internal knowledge you have obtained on the system Long-term Support
  8. 8. © 2016 Kyriba Corp. All rights reserved. PROPRIETARY & CONFIDENTIAL. 8  Companies evolve, so should your system – Expansion – new modules – Contraction – divestiture, down turns  Business changes may lead to configuration adjustments - each should be assessed for potential impacts to your system Scalability
  9. 9. © 2016 Kyriba Corp. All rights reserved. PROPRIETARY & CONFIDENTIAL. 9 The entire project and all associated decisions should be based on a prioritized list of business requirements B – Business Priorities
  10. 10. © 2016 Kyriba Corp. All rights reserved. PROPRIETARY & CONFIDENTIAL. 10  Create a mission statement and define guiding principles – Signed off by the steering committee – Helps define a future-state vision, which defines future-state processes  Scope requirements before beginning work in the system – Larger project - consider a formal change-management process – Smaller project - make a habit of staying disciplined  Create a detailed project plan – Tasks, owners and target dates – Owned by the project manager Business Priorities – Do’s
  11. 11. © 2016 Kyriba Corp. All rights reserved. PROPRIETARY & CONFIDENTIAL. 11  Make timely decisions and keep the project moving – Projects that continuously stall for decision and re- scoping are never as successful as those that keep moving  Use your prioritized business needs as guidelines for all decisions  Make a good decision with the known information and within the parameters of your prioritized business needs Business Priorities – Do’s
  12. 12. © 2016 Kyriba Corp. All rights reserved. PROPRIETARY & CONFIDENTIAL. 12  Assume that if you don’t make everything a high priority that it won’t get done  Stray from the overall goals of the project  Fret over making the perfect decision Business Priorities – Don’ts
  13. 13. © 2016 Kyriba Corp. All rights reserved. PROPRIETARY & CONFIDENTIAL. 13 Involve all appropriate stakeholders, both internal and external C – Collaboration
  14. 14. © 2016 Kyriba Corp. All rights reserved. PROPRIETARY & CONFIDENTIAL. 14  Collaborate with your vendor and consultant – You hired them in part because of their expertise  Involve needed colleagues early on to ensure their requirements are met – Audit/Compliance, Accounting, Tax, IT, etc…  Engage third parties early (banks, trading platforms, market data provider, etc.) – Building system integrations is challenging in that they are dependent on these third parties as well as the vendor and your IT Collaboration – Do’s
  15. 15. © 2016 Kyriba Corp. All rights reserved. PROPRIETARY & CONFIDENTIAL. 15  Assume that these third parties have previously integrated with the system you have purchased. – There may also be limitations on the vendor side with connectivity options that should be identified early in the process. Collaboration – Don’ts
  16. 16. © 2016 Kyriba Corp. All rights reserved. PROPRIETARY & CONFIDENTIAL. 16 Treasury and treasury systems are about business process and workflows. How do we get from point A to point B? D – Documentation
  17. 17. © 2016 Kyriba Corp. All rights reserved. PROPRIETARY & CONFIDENTIAL. 17  Document the new workflows  Document the configurations that support the workflows  Store documentation in a central location that is accessible by all users  Maintain the documents over time Documentation – Do’s
  18. 18. © 2016 Kyriba Corp. All rights reserved. PROPRIETARY & CONFIDENTIAL. 18  Think, “I’ll remember that”  Put everyone at risk by relying on one person’s knowledge Documentation – Don’ts
  19. 19. © 2016 Kyriba Corp. All rights reserved. PROPRIETARY & CONFIDENTIAL. 19 Set the right expectations up front with stakeholders, project participants, the vendor and YOU. E – Expectations
  20. 20. © 2016 Kyriba Corp. All rights reserved. PROPRIETARY & CONFIDENTIAL. 20  Let people know processes will change along with the system  Identify gaps up front as much as possible – Blueprint analysis  Invest time - particularly up front – Time spent upfront pays off later Expectation - Do’s
  21. 21. © 2016 Kyriba Corp. All rights reserved. PROPRIETARY & CONFIDENTIAL. 21  Underestimate the power of resistance to change or the power of internal marketing  Expect scope changes are free (money or time) – Changes must be added based on priorities  Think there is no work on your part – Have a project manager – run it as a project on your side – Assign sufficient resources and ensure that these individuals are decision makers or have direct access to them – Don’t assign resources based on their bandwidth – the right resource is better than an available resource Expectation – Don’ts
  22. 22. © 2016 Kyriba Corp. All rights reserved. PROPRIETARY & CONFIDENTIAL. 22 “The measure of intelligence is the ability to change.” ― Albert Einstein F – Flexibility
  23. 23. © 2016 Kyriba Corp. All rights reserved. PROPRIETARY & CONFIDENTIAL. 23  Be prepared to perform a thorough assessment of your current-state  Be open-minded to the capabilities of the system you've chosen  Use this as an opportunity to standardize your process Flexibility – Do’s
  24. 24. © 2016 Kyriba Corp. All rights reserved. PROPRIETARY & CONFIDENTIAL. 24  Fall apart when problems arise – No project is perfect – Not all problems are created equal – Use your prioritized business requirements to make the needed decisions and keep the project moving forward Flexibility – Don’ts
  25. 25. © 2016 Kyriba Corp. All rights reserved. PROPRIETARY & CONFIDENTIAL. 25 A – Adoption, not just Implementation B – Business Priorities C – Collaboration D – Documentation E – Expectations F – Flexibility ABC’s of a TMS Implementation
  26. 26. © 2016 Kyriba Corp. All rights reserved. PROPRIETARY & CONFIDENTIAL. 26 Further Reading eBook: Building the Business Case for a Treasury Management Solution Download at: http://kyri.ba/TMSBizCase White paper: SaaS and Cloud: Beware of the Wolf in Sheep's Clothing Download at: http://kyri.ba/WhySaaS
  27. 27. Questions? RB Erickson rerickson@kyriba.com Alysia Alcorn Kennedy, CFA aalcorn@actualizeconsulting.com
  28. 28. © 2016 Kyriba Corp. All rights reserved. PROPRIETARY & CONFIDENTIAL. 28 Thank You For Attending facebook.com/kyribacorp twitter.com/kyribacorp linkedin.com/company/kyriba-corporation youtube.com/kyribacorp slideshare.com/kyriba kyriba.com/blog

×