Consulting and implementation guidance are vital parts of any treasury management system roll-out. After all, any system is only ever as good as its users and the workflows surrounding it. But how can treasurers get the most bang for their buck when it comes to TMS consulting – and are there convincing arguments for a no-guidance approach?
You can buy the fastest car in the world, with all of the latest gadgets, but if you don’t have a driving licence, leveraging all of the car’s functionalities from the get-go will be extremely tough. Performing a treasury management system (TMS) implementation without consulting is similar – you’re unlikely to be able to make the most of your investment, certainly not within a short time-frame.
Of course, not everyone wants or needs the fastest car. Some just require a mode of transport to get from A to B safely – but critically, they want to be able to set out on their journey ASAP. As such, it is not uncommon for treasurers to request an out-of-the-box system, with one of the main requirements being speedy implementation.
In this instance, treasurers are rarely looking for any kind of consulting. They want the car manual – in other words the technical TMS implementation – and they want to be firmly in the driving seat of the project. The rise of cloud computing has aided this approach, since treasurers can now deploy a cloud TMS with minimal disruption and zero on-premise work. Training on the system and any basic configurations can also be delivered remotely, freeing up time for ever-busy treasurers.