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.
Crown World Mobility, a leading global talent programs management company based in Hong Kong, collaborated with Kyriba to overhaul its outsourced expense payments and treasury solutions – resulting in major cost savings and productivity gains.
Previously, the company’s payments were executed largely through manual processes based on spreadsheets and web-based electronic banking systems. This arrangement brought risk and compliance challenges, while lacking the scalability needed to meet client demand.
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.