Best Practices for Implementing a Treasury Management System

Transcription

1 Best Practices for Implementing a Treasury Management System Jeffery Hodges Treasury Manager, Sysco Corporation Thomas Gavaghan Manager NORAM presales - Kyriba

2 Treasury Management Systems Landscape Today TMS Use Distribution Number of Years with Current TMS 8% 6% 4% 27% 13% 43% 49% 15% 35% Yes No We built our own Still Implementing Less than 1 year 1-2 Years 3-5 Years 6-8 Years More then 8 Years 2016 AFP Treasury Management System Survey

3 Treasury Management Systems Landscape Today Reasons Organizations Use Excel for Critical Treasury Functions 30% 26% 24% 7% 6% 7% Bank Portal & Spreadsheets are effective Flexibility / Customization of Spreadsheets Cost vs. Benefits of TMS System Time to Implement a TMS is prohibitive Current TMS Solutions do not fit my organizations unique needs Other 2016 AFP Treasury Management System Survey

4 Agenda Implementation Overview What to Expect When Implementation Do s and Don ts Project Success Factors Q&A

5 IMPLEMENTATION OVERVIEW What to Expect, When to Expect it, and Who is involved

6 Implementation Stages What to Expect Discovery On-Site Discovery Workshops Scope Definition Project Planning Blueprint Document Build Reporting & Workflow Connectivity Configuration Configure Imports/Exports Define Validation Requirements Validate Client Validation Configuration Testing Integration Testing Update Blueprint Documentation Deliver End User Training User Acceptance Testing Parallel Run Transition Process to Support

7 Discovery What Data gathering & fact finding Blueprinting Project Planning Who EVERYONE! Business Users Executive Team IT / Audit / Accounting When Begins during the Sales Cycle Ends with final Blueprint and Project Plan

8 Discovery during Sales Cycle Create tailored RFP Have follow-up questions and answers following the RFP Evaluate the functionality, but don t make this the only selection criteria Evaluate the implementation consulting practice Methodologies Successes Failures

9 Discovery Planning - Example Module 1 Phase 1 Phase 2 Project Module 2 Phase 1 Phase 1 Module 3 Phase 2 Phase 3

10 Discovery Planning - Example Cash Management Domestic Cash Visibility International Cash Visibility Project In-House Banking Physical Pooling Mulit-lateral Netting Risk Management FX Interest Rate Hedge Accounting

11 Build What Functional definition & configuration Reporting & Workflow structuring Technical Configuration Who Business Users IT Technical Deployment Functional Integration with ERP and other systems When Starts only after blueprint is finalized Best practice is that build will continue as a waterfall

12 Build Will I need to Involve IT? - YES How much will depend on deployment Hardware Operating Systems TMS Software Internal Data Connectivity (ex: ERP) On-Premise / ASP a a a a SaaS Bank Connectivity a a * Business Continuity 24/7 Support a a Upgrades Hardware / OS Maintenance a a

13 Validate What Bank integration testing ERP & other system integration testing User documentation & validation Who Business users Treasury & Accounting Audit? When Starts as integration is finalized & functionality is finished config Ends when UAT criteria is validated and ready for testing

14 Delivery What Formalized Training User acceptance training Parallel Support transition Who Everyone! Business users Executive Team IT, Audit, Accounting When As UAT is finished

15 DO S AND DON TS Best Practices within each phase of a project

16 Discovery Phase Do s and Don ts Do Align resources internally & externally Evaluate consulting team s methodology, strategy, & success Consult your network Don t Forget about audit, security & IT Make selections strictly based off of functionality Just consult a single company in your network. Look outside your network as well

17 Build Phase Do s and Don ts Do Get your hands dirty Schedule and commit to regular check-ins with consulting team Evaluate best practice recommendations Don t Allow consultants to do 100% of the work Assume that work is being done Commit to keeping everything status-quo

18 Validate Phase Do s and Don ts Do Test and re-test regular functions critical to your process Include non-regular functions in the validation Don t Do this individually. Include all end-users in this process Keep focus or stop rolling out functionality for non-regular items

19 Delivery Phase Do s and Don ts Do Take the time to prepare proper testing scripts Document and record trainings provided Don t Add and revise testing scripts throughout the UAT Allow training to be optional

20 SUCCESS FACTORS

21 The 3 A s Alignment Should happen during the sales cycle Ensure all stakeholders and end users are involved in evaluation and discovery Accountability Beware of misaligned objectives Documented and achievable timelines and milestones known by all Attitude Issues will arise! Keep focus on the end value

22 Key Success Factors Evaluate implementation during sales and discovery phase Keep and maintain proper documentation and notes. Teamwork: both sides should work to keep each other accountable Keep focus on the milestones On Time On Budget Intended Functionality

23 Questions?

24 Jeffery Hodges Treasury Manager, Sysco Corporation Thomas Gavaghan Manager, NORAM Presales LinkedIn: Twitter: