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Transforming Your Treasury Function through a TMS Implementation
June 30th, 2016
© 2016 Kyriba Corp. All rights reserved. PROPRIETARY & CONFIDENTIAL. 2
Today’s Presenters
Alysia Alcorn Kennedy, CFASenior Manager
RB EricksonDirector, Global Sales Enablement
© 2016 Kyriba Corp. All rights reserved. PROPRIETARY & CONFIDENTIAL. 3
A – Adoption, not just implementation
B – Business priorities
C – Collaboration
D – Documentation
E – Expectations
F – Flexibility
ABC’s of a TMS Implementation
© 2016 Kyriba Corp. All rights reserved. PROPRIETARY & CONFIDENTIAL. 4
A - Adoption, not just Implementation
The Goal is for the TMS to be used as an integral part of your liquidity and risk management, not just functionally implemented
© 2016 Kyriba Corp. All rights reserved. PROPRIETARY & CONFIDENTIAL. 5
1. Change management
2. Long-term support
3. Scalability
Adoption Requires…
© 2016 Kyriba Corp. All rights reserved. PROPRIETARY & CONFIDENTIAL. 6
Both great processes without the right technology &great technology without the right processes lead to:– Inferior controls– A drain on resources– Poor information for decision making
Change Management
© 2016 Kyriba Corp. All rights reserved. PROPRIETARY & CONFIDENTIAL. 7
Do’s– Centralize management of static data and configurations– Streamline all questions to vendor service desk through several individuals
Don’ts– Take for granted the state of the system when you go live• Daily management• Discipline for cleanliness
– Underestimate the amount of internal knowledge you have obtained on the system
Long-term Support
© 2016 Kyriba Corp. All rights reserved. PROPRIETARY & CONFIDENTIAL. 8
Companies evolve, so should your system– Expansion – new modules– Contraction – divestiture, down turns
Business changes may lead to configuration adjustments -each should be assessed for potential impacts to your system
Scalability
© 2016 Kyriba Corp. All rights reserved. PROPRIETARY & CONFIDENTIAL. 9
The entire project and all associated decisions should be based on a prioritized list of business requirements
B – Business Priorities
© 2016 Kyriba Corp. All rights reserved. PROPRIETARY & CONFIDENTIAL. 10
Create a mission statement and define guiding principles– Signed off by the steering committee– Helps define a future-state vision, which defines future-state processes
Scope requirements before beginning work in the system– Larger project - consider a formal change-management process– Smaller project - make a habit of staying disciplined
Create a detailed project plan– Tasks, owners and target dates– Owned by the project manager
Business Priorities – Do’s
© 2016 Kyriba Corp. All rights reserved. PROPRIETARY & CONFIDENTIAL. 11
Make timely decisions and keep the project moving– Projects that continuously stall for decision and re-
scoping are never as successful as those that keep moving
Use your prioritized business needs as guidelines for all decisions
Make a good decision with the known information and within the parameters of your prioritized business needs
Business Priorities – Do’s
© 2016 Kyriba Corp. All rights reserved. PROPRIETARY & CONFIDENTIAL. 12
Assume that if you don’t make everything a high priority that it won’t get done
Stray from the overall goals of the project
Fret over making the perfect decision
Business Priorities – Don’ts
© 2016 Kyriba Corp. All rights reserved. PROPRIETARY & CONFIDENTIAL. 13
Involve all appropriatestakeholders, both internal and external
C – Collaboration
© 2016 Kyriba Corp. All rights reserved. PROPRIETARY & CONFIDENTIAL. 14
Collaborate with your vendor and consultant– You hired them in part because of their expertise
Involve needed colleagues early on to ensure their requirements are met– Audit/Compliance, Accounting, Tax, IT, etc…
Engage third parties early (banks, trading platforms, market data provider, etc.)– Building system integrations is challenging in that they are dependent on
these third parties as well as the vendor and your IT
Collaboration – Do’s
© 2016 Kyriba Corp. All rights reserved. PROPRIETARY & CONFIDENTIAL. 15
Assume that these third parties have previously integrated with the system you have purchased. – There may also be limitations on
the vendor side with connectivity options that should be identified early in the process.
Collaboration – Don’ts
© 2016 Kyriba Corp. All rights reserved. PROPRIETARY & CONFIDENTIAL. 16
Treasury and treasury systems are about business process and workflows. How do we get from point A to point B?
D – Documentation
© 2016 Kyriba Corp. All rights reserved. PROPRIETARY & CONFIDENTIAL. 17
Document the new workflows
Document the configurations that support the workflows
Store documentation in a central location that is accessible by all users
Maintain the documents over time
Documentation – Do’s
© 2016 Kyriba Corp. All rights reserved. PROPRIETARY & CONFIDENTIAL. 18
Think, “I’ll remember that”
Put everyone at risk by relying on one person’s knowledge
Documentation – Don’ts
© 2016 Kyriba Corp. All rights reserved. PROPRIETARY & CONFIDENTIAL. 19
Set the right expectations up front with stakeholders, project participants, the vendor and YOU.
E – Expectations
© 2016 Kyriba Corp. All rights reserved. PROPRIETARY & CONFIDENTIAL. 20
Let people know processes will change along with the system
Identify gaps up front as much as possible – Blueprint analysis
Invest time - particularly up front– Time spent upfront pays off later
Expectation - Do’s
© 2016 Kyriba Corp. All rights reserved. PROPRIETARY & CONFIDENTIAL. 21
Underestimate the power of resistance to change or the power of internal marketing
Expect scope changes are free (money or time)– Changes must be added based on priorities
Think there is no work on your part– Have a project manager – run it as a project on your side– Assign sufficient resources and ensure that these individuals are decision
makers or have direct access to them– Don’t assign resources based on their bandwidth – the right resource is better
than an available resource
Expectation – Don’ts
© 2016 Kyriba Corp. All rights reserved. PROPRIETARY & CONFIDENTIAL. 22
“The measure of intelligence is the ability to change.” ― Albert Einstein
F – Flexibility
© 2016 Kyriba Corp. All rights reserved. PROPRIETARY & CONFIDENTIAL. 23
Be prepared to perform a thorough assessment of your current-state
Be open-minded to the capabilities of the system you've chosen
Use this as an opportunity to standardize your process
Flexibility – Do’s
© 2016 Kyriba Corp. All rights reserved. PROPRIETARY & CONFIDENTIAL. 24
Fall apart when problems arise– No project is perfect– Not all problems are created equal– Use your prioritized business requirements to
make the needed decisions and keep the project moving forward
Flexibility – Don’ts
© 2016 Kyriba Corp. All rights reserved. PROPRIETARY & CONFIDENTIAL. 25
A – Adoption, not just Implementation
B – Business Priorities
C – Collaboration
D – Documentation
E – Expectations
F – Flexibility
ABC’s of a TMS Implementation
© 2016 Kyriba Corp. All rights reserved. PROPRIETARY & CONFIDENTIAL. 26
Further Reading
eBook: Building the Business Case for a Treasury Management SolutionDownload at: http://kyri.ba/TMSBizCase
White paper: SaaS and Cloud: Beware of the Wolf in Sheep's ClothingDownload at: http://kyri.ba/WhySaaS
Questions?
Alysia Alcorn Kennedy, CFA
© 2016 Kyriba Corp. All rights reserved. PROPRIETARY & CONFIDENTIAL. 28
Thank You For Attending
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