Choosing a treasury management system (TMS) is a big decision. Though the advent of cloud-based systems has made the process considerably less laborious, it’s still a major undertaking for any treasury department. And what if you choose a system that ultimately isn’t right for your organization? That’s a lot of time and money down the drain—and possibly your job with it.
The latest Treasury in Practice Guide, underwritten by Kyriba, explores the ins and outs of selecting a TMS. Treasury professionals share their stories about selecting new systems, and provide best practices about the RFP process, dealing directly with the vendors, and implementation. By the end, you should have a better idea of what to do when it’s your time to pick out that shiny new treasury management system.
Selecting a treasury system may very well be the most important decision in a practitioner’s career, so it’s important to do your due diligence. Stay focused on the functionality that you need the most. We are in a new era now in which treasury departments can move to a new system that will last them for five to ten years or more—not because they can’t afford to move to something else, but because that system will be routinely upgraded.
Download the AFP Guide to Selecting a Treasury Management System here.