Global finance professionals are challenged by time consuming and error prone manual data entry, and implementing financial controls with enhanced security against fraud and cybercrime. With increasing danger of loss from fraud and difficulty of tracking data across multiple tools and spreadsheets, leadership is asking treasury for a solution to better manage and protect their organization. The problem is that many organizations are using spreadsheets as their primary treasury management tool in spite of their lack of security, controls, and auditability.
Cloud and SaaS
The 2016 annual AFP conference in Orlando, Florida was all about breaking boundaries. For those of us who attended and who have practiced treasury, we were reminded of just how treasury continues to evolve.
The selection process of a Treasury Management Solution (TMS) is a multi-layered process. One of the most important, and where many decisions are made, is the product demonstration. The product demo is a snapshot into what the TMS offers. It is human nature to focus solely on the functionality reviewed during the demonstrations. Ensuring that the functionality meets your business needs is critical. However, there is more to the decision than the demonstration alone.