Spreadsheets may be the financial team's trusty old friend, but just because they're cheap doesn't mean that they're the best option for managing treasury. From both an efficiency standpoint and also the level of risk that spreadsheets bring into an organization, it may be time to reduce your dependency on them and adopt a dedicated treasury management system.
Financing the supply chain is an age-old challenge for corporations, banks and suppliers, and the CFOs and treasury teams who manage procurement budgets. What has changed in recent years is the adoption of innovative technology solutions that create a dynamic layer of visibility in the supply chain, adding opportunities for suppliers who have otherwise funded their receivables up to 140 days or more before they had any notification that they would be paid by their customers.
The reasons why companies should adopt a treasury management system (TMS) are even more compelling today than they were five years ago.