The purchase of a new treasury management system (TMS) is a major technological investment for any organization. For this reason, chief technology officers (CTOs) and IT personnel often support treasury teams during the request for proposal (RFP) process for a new TMS. In fact, responsible technology vendors would normally suggest that the CTO is involved in the process from start to finish.
Fraud and Security
Treasury professionals who manage cash are faced with many challenges, especially if they have not invested in a modern solution to help centralize their payments operations. These challenges are amplified when considering the recent escalation in payments fraud.
AFP released its 2018 Payments Fraud Survey this week and it reports that payments fraud attempts have risen, again. Fraud attempts were found at 78 percent of organizations, up from 74 percent the year before.