best practices for implementing a treasury … a treasury management system ... project cash...
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Best Practices for Implementing a Treasury Management SystemJeffery Hodges – Treasury Manager, Sysco Corporation
Thomas Gavaghan – Manager NORAM presales - Kyriba
Treasury Management Systems Landscape Today
43%
49%
8%
TMS Use Distribution
Yes No We built our own
6%
4%
13%
35%
15%
27%
Number of Years with Current TMS
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
Treasury Management Systems Landscape Today
2016 AFP Treasury Management System Survey
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
Reasons Organizations Use Excel for Critical Treasury Functions
Agenda
• Implementation Overview – What to Expect When
• Implementation Do’s and Don’ts•Project Success Factors
•Q&A
IMPLEMENTATION OVERVIEWWhat to Expect, When to Expect it, and Who is involved
Implementation Stages – What to Expect
DiscoveryOn-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 RunTransition Process to Support
Discovery
• Data gathering & fact finding
• Blueprinting
• Project PlanningWhat
• EVERYONE!
• Business Users
• Executive Team
• IT / Audit / Accounting
Who
• Begins during the Sales Cycle
• Ends with final Blueprint and Project PlanWhen
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
Discovery Planning - Example
Project
Module 1
Phase 1
Phase 2
Module 2 Phase 1
Module 3
Phase 1
Phase 2
Phase 3
Discovery Planning - Example
Project
Cash Management
Domestic Cash Visibility
International Cash Visibility
In-House Banking
Physical Pooling
Mulit-lateral Netting
Risk Management
FXHedge
Accounting
Interest Rate
Build
• Functional definition & configuration
• Reporting & Workflow structuring
• Technical ConfigurationWhat
• Business Users
• IT
• Technical Deployment
• Functional Integration with ERP and other systemsWho
• Starts only after blueprint is finalized
• Best practice is that build will continue as a waterfall
When
Build – Will I need to Involve IT? - YES•How much will depend on deployment
On-Premise / ASP SaaS
Hardware aOperating Systems aTMS Software aInternal Data Connectivity (ex:
ERP)a a
Bank Connectivity a a *Business Continuity
24/7 Support aUpgrades aHardware / OS Maintenance a
Validate
• Bank integration testing
• ERP & other system integration testing
• User documentation & validationWhat
• Business users
• Treasury & Accounting
• Audit?Who
• Starts as integration is finalized & functionality is finished config
• Ends when UAT criteria is validated and ready for testing
When
Delivery
• Formalized Training
• User acceptance training
• Parallel
• Support transitionWhat
• Everyone!
• Business users
• Executive Team
• IT, Audit, Accounting
Who
• As UAT is finished
When
DO’S AND DON’TSBest Practices within each phase of a project
Discovery Phase Do’s and Don’ts
• 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
Do Don’t
• Align resources internally & externally
• Evaluate consulting team’s methodology, strategy, & success
• Consult your network
Build Phase Do’s and Don’ts
• Allow consultants to do 100% of the work
• Assume that work is being done
• Commit to keeping everything status-quo
Do Don’t
• Get your hands dirty
• Schedule and commit to regular check-ins with consulting team
• Evaluate best practice recommendations
Validate Phase Do’s and Don’ts
• Do this individually. Include all end-users in this process
• Keep focus or stop rolling out functionality for non-regular items
Do Don’t
• Test and re-test regular functions critical to your process
• Include non-regular functions in the validation
Delivery Phase Do’s and Don’ts
• Add and revise testing scripts throughout the UAT
• Allow training to be “optional”
Do Don’t
• Take the time to prepare proper testing scripts
• Document and record trainings provided
SUCCESS FACTORS
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
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
Questions?
Jeffery Hodges – Treasury Manager, Sysco Corporation
281-584-5014
Thomas Gavaghan – Manager, NORAM Presales
+1.267.303.5588
LinkedIn: https://www.linkedin.com/in/thomasgavaghan/
Twitter: https://twitter.com/tomgavaghan