TMS RFPs by Treasury Delta & Rent a Treasurer
Treasury Delta, founded by a former banker and corporate treasurer, is striving to solve the complex RFP process for companies looking to choose a new or enhanced Treasury Management System (TMS) and/or Cash Management solution. The Rent a Treasurer initiative was started to make large-corporate-treasury-expertise accessible to mid-sized corporates. I love sharing these types of stories as I am convinced this will help members of the treasury community of which we are all members. Below are more details about both solutions and about the benefits of collaborating using digital technology.
In our introduction meeting Padraig, of Treasury Delta, mentioned what many of you will recognize: choosing a TMS takes a lot of time and hassle. Moreover, often you may be comparing apples and oranges, which makes a confident and correct choice even more difficult.
The TMS RFP process is not one you start on a regular basis. What are the requirements and how do you describe them? TMS vendors offer a wide range of features, especially in these times with innovations being introduced so quickly. Each of them has their own proposal format and business concept. Do their specifications meet your requirements? What do you miss out on and which features would make a great addition in your situation to enhance your treasury department and working life? It would be nice if you can make an objective comparison and this is where Treasury Delta’s platform fits in.
There are great treasury consultants out there who can help compare. But they do charge their fee and rightly so. Do they have a full market overview? They advise what they know is best. Have they followed up with a post-implementation review of the TMS they advised on? And what do you do with some of the solutions being connected to a bank that is (not) your own? It is fully understandable that not all treasurers look forward to choosing a new TMS and such vendors are enhancing their solutions on a more frequent basis now with the latest technological advancements.
Padraig and his Treasury Delta colleagues have built a cloud based solution that helps you structure and record your specific requirements. In a set, secure and user friendly environment, the vendors of your choosing can complete the RFP process and submit a bespoke offering for your exact requirements. The first few projects where the Treasury Delta solution is used, has shown that it is appreciated by both clients as well as vendors. You can read more about the product in this blog.
Rent a Treasurer
It is my personal conviction that many mid-sized corporates would benefit hugely from access to high-calibre treasury expertise. Cost would be saved, risk mitigated and opportunities created. There are a few reasons CFOs do not deploy this expertise more:
- CFOs are simply not aware what they miss or
- They know but put other priorities higher on their list.
- Treasury consultants are too expensive for mid-sized corporates, often have a too high staff turn-over or do not bring a proper company-cultural match;
- Part-time expertise is not (does not seem to be) available.
We previously informed you about the Rent a Treasurer concept. We can report success and we are currently upgrading the concept. Part of the upgrade is concentrating on a core team of five that brings a combined corporate treasury experience of over 100 years. Further information will follow.
The Community at Work
Why combine the two solutions above mentioned in one blog? In various meetings with vendors, treasurers and consultants it has become obvious that access to software is not sufficient for many corporates. They need a process owner, someone who has been in these processes before. An independent set of eyes. In the core team of five Rent a Treasurers, two have extensive experience with TMS selection, both from the role of external advisor as well as a treasurer looking for a new solution.
By bringing together Treasury Delta, Rent a Treasurer, treasuryXL and Treasurer Search we are able to present a unique and compelling value proposition to potential TMS buyers. We are currently working on the details and will make it appealing to deploy each separate and even more combined to suit your needs. If you are interested, let me know. I can further inform you and ensure that the proper people are on board.
Looking forward to your call or mail,
Pieter de Kiewit
firstname.lastname@example.org / 0031 6 1111 9783