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In this advanced framework, TMS will act as the central hub, where banks provide real-time statements and payment information, and legal entities contribute forecasts and treasury inputs. It seamlessly integrates with market data and dealing platforms for processing treasury transactions. This setup enables real-time data access for informed strategic decisions and allows other organizational teams to utilize treasury data.
Traditional roadmap vs. future-focused roadmap
To drive efficiency and strategic value through the utilization of technology, organizations must prioritize the development of a well-structured roadmap for the implementation of a treasury technology framework.
The traditional approach to implementing treasury technology involves planning in detail upfront, customizing extensively, and working with longer timelines. In contrast, the new approach leverages agile methodologies, emphasizes rapid prototyping and focuses on minimal customization with SaaS solutions. While the traditional approach offers stability and thoroughness, the new approach provides flexibility, speed and better alignment with evolving business needs. Organizations must assess their specific requirements, risk tolerance and desired outcomes to determine the most suitable approach for their treasury technology implementation.
Way forward
The ‘treasury of tomorrow’ is not a distant vision, but an imminent reality. Organizations that proactively embrace innovation and technology will have a better position to navigate the complexities of the modern financial landscape. By transforming the treasury function into a strategic partner, businesses can enhance their financial resilience, drive growth and create sustainable value.