How to Enhance Your Treasury Management System (TMS) in Key Areas – with TIS’ Expert Payment and Cash Forecasting Solutions
Treasury Management Systems (TMS) are designed to address a wide array of Treasury needs, from liquidity management to risk management, cash positioning, and Treasury accounting. While these systems provide a broad bandwidth of functions, they often fall short in delivering in-depth capabilities for critical topics such as:
- End-to-end bank & system connectivity for optimizing global payment operations
- Extensive cash forecasting processes & working capital insights
While most multinational organizations today have a TMS in place, unsurprisingly, greater operational scale & complexity as well as inaccuracy in cash forecasting remain the two top challenges facing Treasury departments according to the 2023 PwC Global Treasury Survey.
These challenges exist, because one-size-fits-all TMS solutions often fall short in delivering the depth of functionality required to fully handle the complexities of global payment and cash forecasting operations. This is in particular a pain point for businesses with a wide-spread banking and back-office system landscape, including regions with intricate regulatory environments and ERP systems of different maturity levels.
TMSs can struggle to keep pace with the countless evolving global financial formats. Therefore, their inability to establish true end-to-end processes between all back-office systems and banks leads to disruptions in the processing of payments as well as in the distribution of bank statements. The manual processes, which are unavoidable in this setup, are not only an entry point for compliance issues, manual error, and fraud, they also hinder your Treasury team’s ability to smoothly scale alongside the organic and inorganic growth of your company. The onboarding of new entities with their respective back-office systems is a struggle and likewise the addition of new banks and signees to your global banking landscape. This creates unnecessary complexity for the whole office of the CFO.
Learn more about how TIS can enhance your use of a TMS in key areas of operations by downloading the full resource below!
