Insight & Analysis

Treasurer’s journey to digitisation

Published: Mar 2021

This week David Blair, consultant at Acarate Consulting, shares his thoughts on a treasurer’s digitisation project as he answers some key questions.

Tree tunnel

What are the most important considerations when embarking on a corporate treasury digitisation project?

  1. Start with the business need, not the technology.
  2. Identify the low hanging fruit.
  3. Make sure the solution will bring added value with less work.

With so many treasury solutions and systems available, how should a corporate decide which is the best option for their business?

Select a solution that achieves your goals above with minimum fuss and maximum plausibility. Make sure you get sufficient support with implementation and on-going usage.

How much (if any) of the corporate treasury function should be hosted on-premises rather than in the cloud?

None – go SaaS!

Is there a point at which integrating legacy systems becomes more expensive and time consuming than building a treasury infrastructure from scratch?

  1. Legacy tends to be installed rather than cloud which is more expensive.
  2. Legacy tends not to have APIs though reports output in csv to SFTP and reverse can be fine on more open systems.
  3. Legacy may struggle to keep up with new regulation and accounting standards etcetera.
  4. Often SaaS will be cheaper than legacy maintenance payments, though this can be negotiated.

David Blair is consultant at Acarate Consulting.

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