With an eye on improving internal processes around payments and reconciliations, as well as providing greater cash visibility, Avalon Health Care Group (Avalon) chose TreasuryXpress – a high-value, easy-to-use and easy-to-implement TMS – as their partner for treasury transformation. Treasury and accounting have seen huge efficiency benefits from the implementation and management now have transparency over cash flows at the click of a button.
When I joined Avalon in April 2018, it took almost a month for our previous TMS provider to grant me access to the system. As well as being unimpressed with the customer service, we were connected to only a few large banks via the old TMS, despite working with more than 10 banks in total. With a vision for an automated, digital treasury function, I was keen to connect more banks to the TMS and, ultimately, be able to have all our banking relationships on a single platform.
Conversations with our accounting department also flagged up some pain points they wanted to address – such as being able to push out payments via a one-stop shop, rather than having to log on to several different banking platforms and make payments manually. As an initial step, I reached out to our previous TMS provider and requested a proposal. Not only was there a delay in responding, but when the proposal came back, it was extremely expensive for our size and our needs. Based on the return on investment (ROI), we were struggling to make the business case.
Taking a different path
We started the request for proposal (RFP) process with various players in the TMS market. My predecessor had left behind some information on TreasuryXpress and the team called me at just the right time, so of course we included them in the RFP process. The other proposals and solutions we evaluated were robust and each had their merits, but we liked what TreasuryXpress had to offer. It was not only a question of pricing, which was more economical than most, but the ability to have access for all users, without being nickel and dimed. The majority of vendors will charge you more for additional users, TreasuryXpress doesn’t. As such, we could have the benefits and services that we required without the need for us to reorder our priorities.