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How Mature is your Treasury Department?

By Kevin Stevens
Treasury Lead, Clearsulting

Treasury departments aspire to be nimble, data-driven strategic advisors. But this often requires transformation across people, process, and systems. By empowering team members to move away from manual processes and spreadsheets, and embracing leading technology, you can automate repetitive tasks, minimize errors, catch fraud, and make room for value-add, strategic activities.

Leveraging a leading treasury management system (TMS) can do just that—making your operations more seamless, secure, and streamlined. Adopting a TMS creates benefits that can pay quick and substantial dividends for your finance and treasury organization. One key element of a TMS project is identifying where your organization stands across key functions. Establishing a baseline understanding of strengths, weaknesses, or even outright problems can translate into success metrics and KPIs that ensure your efforts drive value improvements and resilience.

Put your Finance and Treasury Operations to the Test:

How many of these characteristics are true for your organization?

  • Manual compilation of daily cash position worksheets within spreadsheets along with other recurring reports
  • Uninvested surplus cash and liquidity balances
  • Inaccurate treasury forecasting that lacks metrics to ensure quality and thoroughness
  • Bank portals are used to download bank reports, upload payment files, or initiate payments or transfers
  • Struggles exist to organize and maintain external and internal documentation, such as signatory entitlements, passport copies, board mandates, etc.
  • Limited or ineffective tools and controls in place to monitor for and prevent fraudulent and duplicative payments
  • Ineffective analysis on bank fees for overcharges and outliers or lack of benchmarks to negotiate fees
  • Manual uploading or booking of journal entries with monthly reconciliation at the end of the month and delays in month-end closing
  • Missed visibility into FX exposures, high volumes of FX trades, and/or a lack of intercompany netting or lending programs
  • Frequent IT assistance required to troubleshoot issues and support day-to-day activities

Taking Action

How many of these did you answer yes to? Like most finance and treasury organizations, there is always room for improvement when talking about challenging your team, creating operational stability and excellence, and transforming treasury. Use these questions as a springboard to develop a business case and take action.

Value drivers exist from using a leading software solution to increase automation, create resilience, and develop better strategic decision-making. If your team is spending more time researching and collecting data than acting and making decisions, it’s time to consider how a best-in-class technology solution like Kyriba can help your organization do more.

For help figuring out what your organization needs to thrive and grow, visit The Clearsulting team works side-by-side with you to optimize workflows and automate treasury processes to meet your specific requirements. That way, your team can focus on what matters: uncovering new insights that will drive your business forward and inspire growth. Kyriba’s Value Engineering team helps companies benchmark and build better business cases, visit Kyriba Value Engineering to learn more..