
In our work, we are in constant contact with corporate treasury teams in transition: building, downsizing but most definitely also TMS and other technology implementations. TMS vendors and treasury consultants do a great job driving innovation and we are happy we can also help them finding their right staff members.
Sometimes we encounter a situation where, after the implementation, only a small portion of the solution is used. Also we hear corporates who simply cannot find the budget for both the license cost as well as the implementation.
This is to inform you about a “non-standard” solution that worked well with a few of our clients:
The standard solution
A corporate asks a treasury consultant to support in a vendor selection and asks the same consultant to do the implementation afterwards. It also happens often that the vendor screening is done by the corporate and the vendor also implements or suggests an implementation consultant. There are pros and cons in working this way but for many results are fine.
The non-standard way
I mentioned tackles, to a certain extent, cost and making the most of the software you bought. The idea is quite simple: instead of letting externals assume the role of both project leader as well as content matter expert, the own treasury staff takes as much of these roles as possible. The work they cannot do, because they have to invest time in the implementation, is covered by operational, relatively cheap interim treasury support.
Of course most corporate treasurers do not have expertise at the level of vendors or consultants but with their help, leading the project, they will have to learn more, feel more ownership and use the solution better. It would also be naïve to assume that treasurers, on average, have the same project management skills as consultants have, but many of them can get the job done at substantially lower cost.
We constantly keep an eye open for who is available, especially for interim assignments. Finding candidates who can do the operational and are available on interim basis is not easy but our network is there for you.
We look forward to your call!