Making Your Technology Dream a Reality

Transcription

1 Making Your Technology Dream a Reality PRESENTED BY: Steve Wiley, Manager 2011 Treasury Strategies, Inc. All rights reserved.

2 Topics and Take-Aways Implementation Risks Recognize and plan to mitigate risk up front Anatomy of an Implementation Plan for all the steps and follow the plan Success Factors Clearly define strategic and tactical objectives Project Leadership Determine who is going to lead the implementation and clearly define roles and responsibilities accordingly 2!

3 Implementation: Dream or Nightmare? Implementation Risks (What do you need to avoid?) Over budget Over time Partial implementation Resource burnout Wonky performance Failure to launch Reputation deterioration 3!

4 Benefits of a Successful Implementation After a Successful Implementation. Significantly enhanced capabilities; improved workflows / processes / reporting More strategic focus for treasury Internal credit for having done a complex project well Enhanced treasury profile within the company Staff satisfaction and growth 4!

5 Anatomy of an Implementation TMS Implementation Phases Design Build Verify Migrate Project Management 5!

6 Step 1 System Design Design Infrastructure Banks, Accounts Corporate Structure Automating Processes Redesign Workflows Identify Non-Standard Processes Identify All Interfaces Assess Reporting Needs Comprehensive Functional Specification and System Design 6!

7 Step 2 Build & Configure Installation Build Initial Set-up and Configuration Static Data System Parameters Functional Set-up Configure Transactions Configure Interfaces Straight-Through-Processes 7!

8 Step 3 Verification & Testing Data Validation Unit Testing Verify User Acceptance Testing Well-defined test scripts Issue management File Exchange Parallel Criteria Sign-off on data and processes 8!

9 Step 4 Migration & Go-Live Migrate Data Migration Open transactions/positions Historical data Parallel Testing Training Reporting Documentation Go-Live Criteria Checklist GO LIVE! 9!

10 Implementation Objectives Strategic Process improvement Best practices Add specific management functions not currently performed Foundation for Treasury Intelligence and decision support Enhancing Treasury profile Staff development Tactical Up and running quickly Minimize cost Minimize manual processes Minimal disruption to daily Treasury activities Involve Treasury staff as much as possible Minimize risk of an incomplete implementation 10!

11 The Project Team Define Roles and Responsibilities Team Member Business Req ments System Design Configuration Testing Technical Project Lead Treasury IT Vendor Consultant L = Lead P = Participate 11!

12 The Leadership Decision Define Roles and Responsibilities Team Member Business Req ments System Design Treasury L P L P Configuration Testing Technical Project Lead IT P P L L Vendor P P Consultant P L? L = Lead P = Participate 12!

13 Implementation Types IT Led Treasury Led Vendor Led Consultant Led 13!

14 IT Led Implementations Pros Cons Expense low Technical knowledge Rigorous methodology and change management process Prepared for ongoing support Can relieve Treasury of PM responsibilities Lacks Treasury expertise Burden on Treasury for SME Process improvements Miss the Treasury mark IT resource availability Hesitant to expand scope Maintaining Treasury ownership Higher Treasury learning curve 14!

15 Treasury Led Implementations Pros Expense lowest Company specific Treasury expertise Process re-engineering Optimum buy-in Valuable experience Cons Less rigorous methodology and change management process Project management experience limited Workload burden 15!

16 Vendor Led Implementations Pros Strong software expertise Valuable experience in other implementations Relieves burden on Treasury staff Cons Project management resources limited Limited company specific expertise Less rigorous methodology and change management process Limited process reengineering advice External expense 16!

17 Consultant Led Implementations Pros Cons Broadest perspective on best practices Process improvement Relief for over-burdened Treasury staff Familiar with most software Strong methodology, change management Experienced in project management Broad implementation experience Expense highest (initially) External expense Due diligence to select the consulting firm - get it right the first time 17!

18 Variations. Include a Consultant in an IT-Led Implementation. Benefits Adds SME without undue burden on Treasury Change agent for process improvements Shorter time to deployment Experience with the selected software More rapidly adapt to changes in scope More functionally accurate implementation Minimizes re-work Consultant resources readily available Considerations Higher up front costs Too many cooks in the kitchen 18!

19 Variations. Include a Consultant in a Treasury-Led Implementation. Benefits Adds SME and best practices Change agent for process improvements Project management, process expertise Relieve burden on Treasury staff Improved vendor communication Shorter time to deployment Considerations Higher up front costs Too many cooks in the kitchen 19!

20 Consider Your Objectives TMS Implementation Objectives Alignment with Objectives Strategic Objectives IT Treasury Vendor Consultant Process Improvement L M M H Best Practice Implemenation L L L H Foundational Tool for Treasury 3.0 L M L H Data->Information->Intelligence Integration M L L H Enhance Treasury Profile L H L H Staff Development M H M M Tactical Objectives Minimize cost M H M M Minimize disruption to Treasury M L H H Complete ASAP M M M H Minimize risk of failure M L M H Facilitate staff adoption L H L M 20!

21 Key Take-Aways Work the plan Define your objectives Strategic Tactical Determine who is going to lead your implementation Treasury IT 3rd Party Plan your roles and responsibilities accordingly Understand where the risks lie in your approach and engage a 3rd-party to mitigate them 21!

22 About Treasury Strategies, Inc. Who We Are Treasury Strategies, Inc. is the leading treasury consulting firm working with corporations and financial services providers. Our experience and thought leadership in treasury management, working capital management, liquidity and payments, combined with our comprehensive view of the market, rewards you with a unique perspective, unparalleled insights and actionable solutions. What We Do Corporations We help you maximize worldwide treasury performance and navigate regulatory and payment system changes through a focus on best practices, technology, liquidity and controls. Accreditations Treasury Technology We provide guidance through every step of the technology process. Our expert approach will uncover opportunities to optimize the value of your treasury through fully integrated technology solutions. Financial Services Our experience, analytic approach and benchmarks provide unique consulting solutions to help you strengthen and grow your business. Connect With com/content/networkingcommunities 22!