Create Signatory Justification with airSlate SignNow

Create signatory justification

good morning or afternoon everyone this is Bob start from Korean I want to welcome you to today's webinar more reasons to use a treasury management system so appreciate those that are just logging in or just getting oriented or perhaps hearing this and haven't quite logged in there's a couple housekeeping Eden items that I want to begin today's webinar with and once we do then we'll go into the agenda introduce my co speaker Jeff diorio today and we'll go to the content and hopefully give you some interesting things to think about so for today's webinar just a couple things if you are seeing the web console right now then you'll notice that we're going to move the slides forward you'll be able to see those in your view you have the opportunity to ask questions at any time you can simply enter those in the Q&A section and we will be able to respond to those at the end don't feel free to have to wait till the end ask that question you can certainly do that at any point and we will try and get through as many questions as we possibly can with that if you have any technical problems then certainly go back to the original email that was sent to you and respond by email that way also know that we will provide a PDF of the slides to anyone that would like those just simply reach out to us afterwards and we can provide that though also will be recording available on creepers website for download for all attendees after as well so with those housekeeping items the way let's actually get into the fun stuff and by fun stuff want to give you a quick agenda of what we were planning to talk about today we have an agenda of six different topics starting with current treasury management systems landscape then speaking about the traditional or typical uses of treasury technology then we'll actually switch gears and talk about benefits and that's really the meat of today's presentation is what extra value can you yet from your Treasury technology and treasury management system so driving more benefit talking about different ways to approach value creation and what kind of hierarchy we might have and then Jeff and I will speak about opportunities to increase business value as well as steps you can take uncover that extra value in your own organization we will spend some time at the end questions and answers and as I said we'll answer as many of those questions that you submit online as we possibly can any questions that we don't get to we will actually answer offline for you so no matter what question you ask or whether we get to it in the session today we will provide an answer for you so with that I actually want to introduce my co-presenter today Jeff the Oreo just you want to get a bit of any introduction to yourself sir hello everybody this is jeff diorio I'm a principal with Treasury strategies were consulting company that probably many of you know are involved in the Treasury space both from the financial services side as well as the corporate Treasury side I personally have been in Treasury technology it's a little embarrassing to say but since 1990 so for quite a while and I've worked with every system out there and help help design quite a few of them so we hope that our presentation today will be thought-provoking and if you have any questions you can reach out to either Bob or myself at your leisure our emails are here and again at the end of the presentation yep absolutely thanks Jeff and I don't think it's embarrassing all you've been in the industry for nineteen ninety I think that's going to be excellent for today one thing just a quick clarification i should say is you can certainly email us questions or anything we're not really checking those today use the Q&A tab at the bottom of the screen anyway thank you Jeff for that introduction and for myself obviously i work at curry but you can see that on this slide i had a market business strategy here at curry vibe in this space for not as long as Jeff for only 15 years but at kriva we obviously work with and supply treasury management systems so I think between Jeff and I think we can give you a lot of ammunition and help you understand not just the tip traditional uses of TMS systems but also focus on some of those areas that you may not have thought of now Jeff I think I'd like to hand it over to you this next slide I think is an interesting one I think be good for you to start out with that thank you Bob you know we we felt it would be important to describe the landscape that that organizations find themselves in as a starting point for this webinar treasury management systems have been around pretty much since the pc came into existence so you could say about 30 years adoption has increased over time from just straight bank portals where you were getting a lot of functionality directly from your bank service provider and also excel right so you were you were leveraging your bank system you were leveraging Excel and it is evolved to utilization of at least an automated cash system at this point today but there are still hold out so we talked to a lot of companies and and you'd be surprised how many companies are still putting stuff together in Excel it works it's just you know an audit nightmare and it's not very safe so so we've got this continuum at the bottom that sort of describes where companies are somewhere on the TMS landscape most organizations we deal with are looking for more from their treasury management systems you know once they have accommodated basic treasure reporting and accounting needs they look to add further efficiencies and additional functionality for instance efficiency gains in more straight through processing and even if you think you're there it's always amazing how much more is available regulation has always been a big driver in the TMS space the financial crisis resulted in a slew of new regulations that Treasuries will be adapting to for the next several years Treasuries that we work with are not necessarily waiting around for the legislation to come to fruition so they're driving consolidated risk reporting and real-time visibility to their exposures on a global basis now rather than waiting for the regulations to kick in an interesting point I was involved in at its inception is SAS what while it was only about five percent of the market for the way systems were delivered ten years ago now it's the bench more if if a firm doesn't utilize a true SAS capability there's a very good chance there at least using a hosted solution as an alternative to installed so so the cloud has definitely been adopted by corporate Treasury another big point here is that the the executive dashboard that I recall company started talking about 8 10 years ago it's still alive big data has been a buzzword for many years but now we really see it being encompassed you know brought into TMS system so you know integration with systems not previously considered or being looked at think of you doing your forecasting and incorporating data from supply chain AP and other sources the desire for global high level view of exposures call it business intelligence became much more important after the financial crisis sure there's a lot think we have several hundred people on the phone today and I'm certain many of you were asked what your exposures were to this bank or some corporate entity over the last five years and you know did you have an easy way to compile your firm's entire exposure to that entity and then finally just as a side point a lot of you know there's been consolidation in the industry and that that does impact some of the choices you have but there's there's new entrants and of course feel demand always increases supply the next slide we performed a survey in june of this year and one of the questions on that server we asked was what tech what was technology's impact on the role of the corporate treasurer the sixty-nine percent of respondents felt technology does increase a treasures capability for strategic impact seventeen percent thought technology helped enable analytics we also got a lot of good comments from respondents some of our clients felt that technology allows treasures to spend more time thinking or analyzing and less time doing or gathering data which is really where they become more strategic at the same time you can't have strategy without tactics to put it in play and people feel that's where technology comes in in the past you saw organizations make an investment deploy it and then go stagnant again for a few years until the contract renewed so by a treasury management system get it in place and then just go along until it was time to do it again so one of the new paradigms you'll see and SAS has really helped this is that companies are looking at more of a kind of a constant investment and ongoing investment in technology because you don't need to worry about upgrades and that sort of thing as much anymore Bob do you want to address this next slide I absolutely will thanks get one too many slides there so I must address the next slide after that traditionally and I say the word traditionally simply as foreshadowing because we're going to talk about things that maybe are more evolutionary or more forward thinking in terms of the use of treasure management systems but traditionally this is one example of different modules that people typically use today with most treasury management systems especially those that use those that are on the call today you'll know that you can generally pick and choose the modules that you want so you may focus more on cash and liquidity forecasting creating accounting entries automating payments it maybe even tracking some of your FX or interest rate or debt you get the idea so these are the typical treasury management functions and typically what we see is automation efficiency those sorts of benefits which jeff will actually address in a moment so it's not to say that the continuum of functionality needs to necessarily evolved I mean it is evolving because Treasury's responsibilities are increasing but it's really more the depth of usage and the value that you get from this functionality which can drive further value for the organization they can create more opportunities to be able to generate value from the system then maybe you're either getting today or if you're in the midst of a business case to consider treasury management systems then maybe what you're including within that business case to justify the investment so to kind of start with will just make sure that we're all clear on what those traditional benefits of a treasury management system are before we start talking about adding additional value so yes I mean this is a great slide to talk about what those traditional benefits are thank you Bob right these are what are some of the ideals the benefits the objectives you've been looking for from a treasury system and and I believe that these carry forward and are a little bit forward thinking so I will address it in that vein you know treasury management systems allow you to get things done faster and what we're talking about is things like automation of daily count cash positioning automation of your accounting valuation but it can go further so the concept of a system providing you know a quicker access to information is key and one of the main benefits of this of a TMS companies are running more efficiently and the demand for analysis and decision making is coming faster and faster so for instance when the treasurer asked to see the quarterly cash forecast by 10am and you know it takes you two hours to update it you're really looking for technology to help you there architectural II everybody says they're looking for it to be flexible it is it is important that the system you select can grow with your organization horizontally and vertically might be one way to think about it but the architecture must allow for an increase in scope one of the one of the goals you're looking for is to automate manual processes eliminate reeking of data when we do best practices review will work on work flows within an organization and one of the things we'll do is we'll highlight how many times people are using Excel it's not terrible to use excel but you'd be surprised how often it becomes the tool of choice and then of course cost efficiency and cost efficiency is sometimes a little deceiving you know systems cost money hosting costs money but but if you look at things holistically and look at how many hours are being saved by having a system automate the data gathering and compilation as well as you know how many resources you have to run your Treasury and can you get all of the work done in a given time period you know these should all factor into your cost analysis so it should be cost efficient Bob did you have anything to add really it's just a coin or thoughts I mean efficiency is incredibly important in most business cases are based on achieving productivity in achieving that level of efficiency and using as the foundation for the the business case and that we're going to get into that in a few moments but i think it's i can't emphasize how important it is to understand where those efficiencies are including costs as well as productivity because that you don't know those things is going to be very difficult to really get to the next level in terms of justifying that investment so with that we wanted to be able to provide a bit of a polling question for the team is that helps both you understand maybe some opportunities where there are but also it helps us gauge where the audience is today so where do you fall on the treasury system continuum if you recall what Jeff was speaking about a couple moments ago are using spreadsheets today are you leveraging Bank portals do you have an older TMS that perhaps needs replacing your treasury management system is good you know it's all right there's nothing wrong with it but you are looking for opportunities to improve or you are the master class you should be teaching classes on treasury technology implementation that's kind of like the five different levels of I guess in the continuum and I know we're being a little tongue-in-cheek in the way we phrased it but hopefully just that gives us some opportunity for the audience to give a sense of where they're at today so as teams are are answering i'm going to move into the results just to see where we're at and just honestly I'm not incredibly surprised by this how does that work for you you know the very first question is my favorite so you can see you know most cut most most of the respondents so far are leveraging spreadsheets Bank portals or quite happy with their existing TMS looks like they think they could get a little bit more out of it and hopefully that the reason they're listening to the webinar so but but I am surprised to see so few that say they their TMS needs replacing because we do see fairly high percentage of organizations looking to upgrade over time and and of course the TMS is an implementation masterpiece I love that question yes early and I think the way I interpret that last one as we move on to to the rest of the presentation which really touches on our TMS is good but it could be better is I think that's kind of the key thing is that a lot of organizations I work with and we encounter a tree but they they come to us saying we're okay with where we are but we do recognize there's more opportunities and I obviously have twenty-seven percent of the audiences in that bucket then I think what we're looking to accomplish here is going to be useful so speaking about what we're looking to accomplish one of the main benefits and we alluded to this a couple times already especially through just description is that going beyond automation is important it's important for well for your Treasury team but it's also important for justifying any investment either ongoing or new in Treasury technology so what I mean by that just the automation it's nice I mean you can understand how much percentage of head counts you can save you can understand how much time can be allocated to other things you really are looking at the productivity just most of the time it doesn't justify what I call I popping our oh I like that one where literally you walk in there and the CFO says I can't believe you waited this long to tell me about this opportunity that kind of ROI automation really doesn't do that most of the time now in some industries retail health care as an example you may have a lot of transactions that automation play may be much more relevant but for the most part it's good it will justify the investment in that technology but it's not going to really take it to a level where you get green lights all the way through and are told you can have as many resources as you need to make this project happen quickly and maybe that's not always the result anyways but it's certainly much more opportune if you can show that there's serious value and part of that reason treasuries just not typically high in the transaction volumes because Treasury's responsibility is not so much dealing with transaction volumes it's dealing with effective financial decisions and volume isn't really quantifying that it's how can I protect my financial assets from changes in exchange or interest rates how can i optimize that return on cash how can I ensure that I find more cash so I can make better decisions with it the key that we're going to talk about Jeff and I both is that insight intelligence that's what's going to help you generate more value and when I say that I move to this slide that really would call value creation it's obviously a pyramid kind of like Maslow's hierarchy of needs except for Treasury and it shows that productivity is the base case and I firmly believe that I know just that's something you see as well is that if you don't have an understanding those efficiencies if you can't quantify the level of productivity automation is going to bring it's very difficult to proceed understanding what those benefits are usually this is the first priority of most Treasury teams and CFO is when they're looking to understand can we be more efficient it's how much time can we save is number one but it's number one as we progress financial controls will sometimes be alongside productivity or a close second in terms of the order of progression so when we say controls just spoke quite well around different I guess weaknesses or shortcomings that spreadsheets have and I think we all understand those certainly the large percentage of the audience that said we're on a spreadsheet so we're using Bank portals they came to a webinar like this to look for opportunities to see how can we get beyond notes how can we justify that so I think most people understand the deficiencies with spreadsheets in terms of data integrity to control workflow having the right audit trails separation of duties etc it's not really ideal for things like sarbanes-oxley audit does not really ideal for having proper operational risk management so being able to achieve those helps you move along this continuum or up this pyramid moving up this pyramid we go into visibility now you probably all on the phone have seen the same things that Jeff and I have there's certainly been a lot of marketing a lot of sales and ship around visibility you need visibility and Jeff I don't think either of us would argue that but visibility is an enabler there's a reason why it's midway up the pyramid and not at the top because visibility on its own all it does is allow you an opportunity to make decisions based on what you see so that visibility could be everything from cash which is one of the most obvious ones cash visibility we hear about a lot it could be more around bank accounts and understanding and having visibility around where your accounts are who has signatories no in preparation for things like ebm as an example and it can be visibility into your financial exposures or even operational exposures but point is is that visibility allows you to get to that next step which is to make effective financial decisions effective financial decisions is going to generate the kind of value that allows you to make a very significant business case so if we look at cash if I achieve cash visibility what does that allow me to do it allows me to take an opportunity to more efficiently borrow to improve my liquidity to actually get effective returns on cash and that's where you start to see significant ROI if you look at things like Alexander Hamilton awards or AFP pinnacle Awards these organizations are often winning based on not just providing visibility but being able to put in better financial decisions to actually generate value for the organization now this is other top to pyramid but it's pretty close and if your business case is able to look at productivity controls visibility and then effective financial decisions you've put yourself in a much better position to be able to demonstrate and then obviously get the opportunity to put in place and implement a project to actually make better financial decisions for the entire organization but specifically make Treasury more valuable the top part and you can label this a number of different ways we've chosen to call this for the purpose of the webinar Treasury as a strategic partner it could be in a position of generating business value there's a lot of different labels but the idea is commonplace the idea is that you're looking to build value generally collaboratively with other teams through intelligence insight and analysis and that's the key to be able to not just work within the confines or the responsibilities of Treasury but expand the opportunity to expand those responsibilities of treasury by using technology to enable that in some cases and we did a webinar with a couple of our clients a few months ago where their strategic partnership with the rest of the organization was enabled by actually being able to do their jobs so quickly and so effectively that they were able to free up more than fifty percent of each person's day within the treasury team to start looking at other value-added activities and those value-added activities they can be a lot of different things we'll talk about these examples on the right side of the screen as we go forward but there's a lot of different choices out there about what you can do collaboratively generally we see the expansion of responsibilities to be more around enterprise risk management or working capital as an example but whatever your definition the point being is that once you get that visibility you get that productivity you're able to make those effective financial decisions then you put yourself in a frame to become more of a strategic and collaborative partner with other teams so Jeff I mean I know this kind of gets into a topic that's near and dear to your heart such as treasury three-point oh let's talk a little bit about that thank you Bob so yeah Treasury strategies has been talking about how Treasury has evolved from one point 0 through two point O in on 23 point 0 and over the the since the late since the 70s when FX started fluctuating we were sort of in the realm of 2 point 0 where you needed systems to help you quantify exposures and execute hedges and that sort of thing because Treasury had become complicated enough that it required it but now what we're seeing his organizations are evolving and so this is the evolution that we talk about when we describe Treasury 3-point oh you're moving away from an execution alok asst but on two dimensions so your technology and your data architecture are evolving and that gets you closer to the realization of full automation and integration and the next slide I'll talk a little bit more about integration and then on the other access your scope of influence is expanding because you're having expanded risk responsibilities and we believe that as these as you drive along these two axes eventually you'll come into the realm and it will take a period of time but you will evolve into the strategic advisory role so on the technological and data architecture changes you're going to see a shift which allows you to transform you know enormous amounts of data into actionable intelligence to support your firm's objectives and so we are seeing more demands on technology you know as this comes to fruition Bob did you have anything to add no I think the main thing to think about what's the right thing to add here because you explain this slide perfectly is that that evolution it's worth it because you're going to create business value but it's definitely a process like even as we cycle through those pyramid slides relatively quickly it takes time to get to each level but each level is important in terms of establishing the vision so that you can actually get to this point of strategic advisory and I think that's the key point that is important for everyone on the phone we want to make sure that it's not just about automation it's not just about integration it's not just about taking on additional responsibilities it's about being able to combine all of those so that you put yourself full yourself as well as your team in a better position within the organization to drive value treasury doesn't have to just be a cost Center and I know we hear that term of so many times it's a matter of being able to provide value to the organization and we'll say it again and again and again it'll be almost a very repetitive term but Jeff I think it's absolutely important right another way to look at this or think about it is is to realize that you know there's a lot of touch points to your organization and treasury is becoming the financial nerve center because of that so your systems should should enable you to interact with all these touch points and of course provide the analysis and business intelligence needed so that you can action on the information and make better financial decisions so so this image gives you you know kind of a different way of thinking about Treasuries 34 know where you are the interface between ratings and and banks and capital markets and all of that comes together hopefully with a proper strategic system so we've talked about the approach once you accomplish this you know what will the benefits be and so it's a yet another way to approach it and by deploying treasures repoint oh you'll broaden your focus beyond execution to strategic assessment you'll be more proactive about monitoring the environment and assessing the impact of market events you'll have the ability to provide intelligence to decision-makers the right technology will help you do that very quickly when you have integrated data with internal information and external information all tied together in it you'll be able to spend more time on strategic activities due to the increased efficiencies next I wanted to talk about some of the drivers that you'll see some of the top issues that we're seeing impact Treasuries today big data which has been mentioned before is you know it's it's it's it's impacting our clients is it accessible for quick decision-making so the good news is TMS solutions are helping customers our customers harness the power of enterprise data recognizing that the platforms do encompass an enormous amount of data and in the past even though it was within the same solution it wasn't it wasn't accessible at the higher levels you're looking for more business intelligence capabilities there's is a lot of data at your exposure at your disposal so how do you mind and refine it the focus is to make it relevant and accessible through business intelligence meanwhile regulation will continue to drive changing the industry it's always impacted the space and it's one reason that TMS is were invented years and years ago the current slew of changes that are in play right now have a long tail on them and we've mentioned a few here dodd-frank has been impacting for a few years and will continue to do so sepa is very very relevant on the minds of organizations that have to adopt it and that adoption is is coming very very quickly the money market fund changes the SEC asked for comment I think it's the 17th which is this weekend and the changes to potentially variable nav could have an enormous impact on corporates both in their cash stamp no practices and in how they track them with their systems and of course the accounting standards are big big drivers as I mentioned before so adoption of them which I'll get into in a minute definitely has an impact on Treasury Bob Weir we going to take a moment to ask some more questions now yeah I was thinking about it so why not one of the things we'll spend the rest of the presentation doing this is talking about some of those specific reasons really parlaying on what Jeff was speaking about some of these drivers for technology adoption how your organization will benefit so we're going to talk about a few examples but to make sure we spend the right amount of time based on what people want to see then what reasons to use a TMS are you most interested in learning more about so we listed six which almost go beyond the page but more efficiency and productivity establishing financial controls optimizing returns on cash effective risk management programs working capital improvements or increasing responsibilities of our team so as we invite everyone to to submit those Jeff you I want to hazard a guess as to what you think might be the most popular response you know Bob I'm going to be very interested to see the results of this poll so that you know depending on where an organization is any one of these could be important to them yeah a good safe answer Jeff well played I'm going to hazard a guess that the top one is probably going to get a large percentage but as I move forward to the next slide see how we are so fifty percent agree it's a full called experience I think efficiency and productivity is important I don't think you're going to argue with that Jeff because you spent a lot of time explaining where those opportunities within efficiency really are I found a spritz management and then working capital I think that's interesting Collective twenty percent between those those haven't historically always been treasury responsibilities Jeff so I think it's that the testament to the fact that Treasury's starting to have to be responsible for more then just cash that kind of your interpretation as well it certainly is nice to see organizations focused you know there are all around ten percent or less but there there are organizations focusing on items beyond efficiency and productivity which is kind of the theme of this presentation isn't it without a doubt so let's start talking about some of those opportunities we've listened a couple here that hopefully seemed to align with what people are looking for there's certainly efficiency and productivity layered within each of these in addition to one such as risk management of the very top and hedge accounting which are very much aligned to at least ten percent of the audience so global visibility risk management hedge accounting which you can certainly make an argument or very tied together BAM and mm people always wonder about exactly how eve adams can materialize integration supply chain discounting which certainly ties into working capital as well as bank relationship management i'm going to spend a tremendous amount of time and each one but we're going to spend enough time where we can give you some insight into where there are opportunities in each of these areas to get more out of your treasury management system or add to your business case compared to maybe just pure automation so as we start with global visibility and risk management obviously the TMS will automate bank reporting it'll automate the consolidation of positions and give you a good picture of what your financial exposures would be so I think everyone understands where those opportunities are but sometimes it's the exposures really does create an opportunity to enable better risk management practices so by having that confidence and that accuracy for cash and liquidity both domestically and internationally that gives an opportunity to create a program that can be much more effective at protecting the value of those financial assets and is that a very way to summarize it Jeff yeah I I look at this subject as as your global visibility is is so much more important now and it is interesting everybody felt they had global visibility but all organizations these days both financial and non-financial are focused on it it if you think about what you read on after the financial crisis it took it took major banks in financial institution weeks to figure out what their comprehensive view was and they were still off now a lot of corporates aren't as complex as some of your major money center banks but you know we had to help so many organizations that said oh we didn't realize this was one of our exposures and you know we we could have we could tell you our exposures by foreign exchange but we hadn't incorporated all of our fixed income no capital markets and derivatives into it and that's just that's just a very simple example that being able to consolidate everything even something as simple as global bank accounts and know that they're accurate is something a lot of companies are still doing then when you get to the risk side having a comprehensive holistic methodology is is something that organizations still struggle with so there are opportunities here you know do you have evaluation methodology for everything that puts it on an apples to apples basis and then of course going beyond just simple what is my current market value to have the ability to do analysis and stress testing is is certainly an opportunity for a lot of companies and these are things that you know in the financial industry they've had for years and now it's coming over to the more the corporate TMS side yeah that's a fine observation I think it's it is safe to say that if one of your objectives is to implement a counterparty risk management or operational risk or certainly a hedging program that you need to establish that visibility is the base but you build upon that and Treasury technology is what's going to enable that so if you want to quantify the value of a hedging program as an example then this is one of the areas of value that you can look at now speakin of hedging talk specifically about hedge accounting think we are free the tactical side of hedge accounting in terms of being able to meet the requirements of fives 133 I for a 79 etc but Jeff there's a strategic element you wanted to speak to right right when when most corporations have to deal with hedge accounting and the new regulations that are coming out you know they've been dealing with this for years and years and years but it tends to be something that's very painful which you have to accommodate but if you look at proactively and as some companies do there's an opportunity here so you know most companies it forces a discipline that if you take in a little bit further can really put you in a unique place most companies have been doing valuation and effectiveness using third-party quotes in Excel it's not quite back of the envelope but not as holistic as they described on the earlier slide so by by by applying you know the full analysis and disclosure on financial reports is coming the shortcut method to accounting is going to be short lived at some point in time organizations are going to be forced to do more disclosure so you might as well get ready for it now in addition it can dovetail in with your risk management policy so so proactively approaching hedge accounting I can tell you that several of our clients even though they do shortcut method or or other methods for accounting they're also doing regression analysis so that they understand what the true risks are and of course when long-haul comes to play they're ready for it yeah it's a fine point Jeff and I think that that speaks to the strategic value and it's really that bottom bullet point that I think encapsulates what is important for everyone when they're thinking of business value in this slide is that this process helps identify those opportunities to develop a hedging program if you go through all of the hoops you have to jump through in order to establish effectiveness and do the right things so you can defer those gains and losses on the balance sheet for say cash flow or balance sheet whatnot then you get to the opportunity where you can establish the effectiveness of your actual hedging program I don't mean effectiveness testing from a hedge accounting standpoint I mean the effectiveness of your program and that's where you can start quantifying the value can understand I'm not as effective at mitigating the risks as I want to be I now know what's required under hedge accounting for compliance standpoint I can actually improve the scope of my hedging program to protect more value you can get to that point then you're going to be able to drive more value from your treasury management system than just actually satisfying tick marks of going through hedge accounting now switching gears from hedging to something much more entertaining for some people even now I know in fairness p.m. isn't really available to pretty much everyone on the call obviously it's still in process and I won't even go down that road for now when ebm comes to fruition I think we all realize that automation reduce paperwork are obvious benefits like its automation play we get to actually ektron a'kla communicate all that documentation it's going to be great however from a strategic standpoint it's not just about automation it's about control and visibility of your bank accounts the real value is to be able to structure that process so that you can actually reduce fraud you can increase exposure you can really say exposure like exposure to what your bank account structure is it allows you to standardize and centralize those process even if you're a slightly decentralized organization so it does enable you to become more decentralized without taking on additional operational risk and that's a key value to the organization now quantifying that may not be as simple dollars and cents as I save X amount of hours through electronic communications that is filling out all those different forms but being able to decentralize Treasury and be able to put people on the ground locally and still retain that control comes at a value to the organization that's where the strategic impact of e bem preceded by proper and best practice bank account management comes into play yeah Bob so we are one of the things that we see is Swift is becoming more and more adopted by companies I can tell you many I have had many experiences helping companies gather information that they need for their TMS by going to multiple locations and so they all look at this this ability to use Swift as as a wonderful thing and and this is a very nice adjunct to that which is as eBay matures if your systems are ready for it and you are ready for it everybody is very very excited about leveraging it but the foundation to it the bottom of the pyramid the foundation to the house however you want to epitomize it is that the bank account management itself is something that can be automated today and a lot of companies even though you say well people have been doing bank account management forever a lot of companies are still looking at this as an opportunity to create a single source that is there there there there there solitary location for bank account information globally and that is then interface to all of their other systems so you know the control of the accounts is the real value and I can't I can tell you story after story of a company I was just talking to cydia this person had left two years ago we found out they were still a signatory on some of our accounts things like that won't happen when you have a proper bank account management system in place yeah the fine point Jeff and I think I don't say integration is the same thing but there are opportunities there to want their jobs yeah so on the integration side it's maybe a word that's abused a little bit but it is something that that you have to adopt and it can continue to be driven further and further so ninety percent of treasure management systems provide interfaces with bank accounts at the bank systems and with their accounting system so so that level of integration has always been there but there are higher levels that can be accomplished and these help to fulfill the promise of big data and business intelligence so integrating with internal systems like I mentioned earlier like supply chain or accounts payable with existing forecasting will help improve forecasting and you know truly give you a much better picture of your global exposures you would think that we with the ability to electronically capture your bank account information being available for so long there wouldn't be much more benefit there but I can tell you some organizations are going to the point of capturing a hundred percent of their bank accounts because they realize that final twenty percent on a global basis they were not accessing actually amounted to a significant enough exposure and and impact the organization so with the ability to electronically gather data over Swift and you know with with all of the other services available a hundred percent visibility is possible and some of our clients have achieved that there's also bank fee analysis f bar reporting capabilities which while tactical they can add value in cost and time savings and as you mentioned a BAM is maturing so you know everybody is excited about the idea of being able to initiate changes in their open accounts closed accounts that all that sort of capabilities that come with a BAM and it is as somebody said well we built the rocket and we launched it and it's somewhere on its way to where we're eventually going to be so it is in play at this point in time excellent thanks just for that I appreciate it as we go into the final two examples one of them that they're both relatively simple and straightforward so we don't need to spend a lot of time on either one but from a supply chain standpoint really speaking to working capital specifically cash forecasting really does enable a lot of value but one of those ideas or one of those benefits i should say is being able to be more certain with how you want to use your excess cash and liquidity so within the cash forecast you're going to determine one of two things i have excess cash liquidity for certain period of time or i have a requirement to preserve liquidity one of those two scenarios so working on a collaborative program with procurement accounting as an example a lot of organizations are starting to either adopt early payment discounting or dynamic discounting depend on your terminology which is really an opportunity for cash optimization by taking or proactively offering those supplier discounts that can generate easily double digits sometimes twenty percent APR return on cash simply by leveraging what is available from your supply chain there's also programs that do it on the customer side as well you get the idea that there's opportunity to utilize your cash differently than just overnight in second one is actually preserving liquidity by extending DPO or days payable outstanding to actually improve your cash conversion cycle improving your working capital and those situations are really involving like third party financing like banks as an example so you never learn about those opportunities you'd never be in a position to take advantage until you actually improve the accuracy and confidence in your cash forecast you do that as an effective financial decision unable to forecast better i'm able to be more accurate now what that strategic opportunity is the now what and as you can see depending on your situation there are opportunities so it ends up being a very collaborative project to improve returns risk management as well as working capital for the entire organization not just cash so that's certainly one I think the other one that bears mentioning for just a few moments is bank relationship management now when it's a vrm there's a lot of different things that could mean and I think Jeff and I could certainly spend almost an entire presentation just on bank relationship management in what the different facets of it but to give you one example if you do something simple like banksy analysis so measure the accuracy of your pricing make sure that your fees are in line with the contracted rate as well as the volume that you expected that they would be in combination with other modules you can deliver quite a few things that can be very effective very strategic even so just establishing what's my bank account utilization versus cost having that matrix can allow you to understand am I effectively using my accounts it can help you understand the total cost of your banking relationships not necessarily just cash but also looking at financing fees looking at trading fees looking at transaction costs being able to get a total picture of not just what it costs you but also what they receive from you to establish the metrics of that relationship and then finally of course it supports spreading out business evenly I think we all appreciate in Treasury that's spreading the business evenly across those within your credit facility is the most helpful and appreciated but also important that you can actually measure them so that kind of goes into just basics around automation I just want to get a bit better at bankee analysis to enabling a program where you can actually manage the relationships with your bank and prove that so that you have the right metrics and the right dashboards in front of your CFO that can be shared with your banking relationships so I know those definitely really touch on the examples I'm sure we could do more and more and more but a final thing which we probably spend a moment or two on before answering questions is how do you uncover this value what sort of opportunities might there be so i thought i would share at a high level some thoughts on how we helped drive companies to uncover the value but the first step would be reviewing you know spending some time up front understanding your current state and determination of where the opportunities lie every company is different every scenario is different every year as you're evolving things change so so a best practices review or review of your current state and determination of where the opportunities lie and then take the time to define what your future state objectives are define the roadmap of where you believe these opportunities can go for your organization third step would then be to define the specific projects and prioritize them nobody has the ability to do everything they'd like to achieve in a given period of time so so defining the project succinctly and prioritizing them creating detailed business requirements we call them the blueprint it's hard to you know progress in the build of something unless you've got a really solid blueprint for it so as you can see we're doing a lot of analysis and planning before we get around to execution then the fourth step is to budget and execute you need to consider when you're budgeting not just cost capital costs that sort of thing you need to consider the resource impact there are so many projects going on at organizations that that saying we're going to take out another one sometimes means you can't do it so you need to consider the resource impact as well as the hard costs of doing these projects and that will also help you decide which ones to execute on and then the final point is that you need to revisit and refresh on a regular basis so it's not a one-time designation of a roadmap and there we go for the next five years things change and so in your process you should build in the concept of revising and going back to the beginning and and redesigning the roadmap as needed and I'm watching the time here above so I want to make sure we get to your summary and maybe some questions and answers so on the next slide we talked a bit about how to establish a roadmap and I'll go through this very quickly so we get on you know define where you want to go think about your your organizational goals as well as your your divisional goals so if you can tie the projects that you're thinking of back to organizational goals align them with them it's going to be much much easier to justify doing them and then having some concept for how long it will take is very important in your planning and that goes back down to prioritization so I think it's very simply and summarizing it's probably speaks for itself with these bullet points but the value of a TMS is just greater than automation efficiency and we've having that point home again again again I think it's important i'm hoping that everyone grasps that productivity however is the foundation so it's not to be ignored it's just not going to be the exclusive thing that's going to drive your business case it's just not going to get you generally where you want to go and so technology can obviously play that role and help you increase business value and obviously is just just spoke about establish that roadmap is one of the key planning steps to make sure you can actually identify and unlock that business value so with that they're definitely a bit of a lineup of questions and as we get to the top of the hour maybe even a minute beyond it I want to make sure that we have an opportunity to at least address two or three of those so there's a couple different ones a little bit more a tactical question Jeff but pretty easily they asked about kriva but i'll change it to treasury management system generally you know with treba do we need to build interfaces with our ERP to get AP and AR information my simple answer in jeff i'll let you comment as well the answers you don't have to build it the vendor is going to be the one that builds it in conjunction with your IT group has an example it when I see it that way it makes it sound like OIG is involved that's trouble it really isn't a lot of effort it's generally IT needs to require you know that's if I what kind of file needs to go into our system so your file needs to look like this it needs to be here whether it's on ftp server or web services or something like that and the vendor will take care of the rest that fair statement for you to Jeff I would say it varies Bob so of course if you're treasury management system is your erp system it should all flow beautifully and and you know integration is very key there are times where you need to translate information so that needs to be considered and your Treasury system vendor can provide you with help with that other companies have in-house groups that do that so there's a there's a variety of ways that is accomplished fair enough I see a note here that's asking about some of the challenges to achieving global cash visibility and and if I could you know it is interesting we've deployed a lot of systems for some very large corporates at this point in time and you know that even bank adoption of Swift is a bit of a challenge in some places so so you could have instances where it's still eighty percent are very easily accessed and the others you're going to need to find some other way to get to the information so still point to point and Bob I suspect kariba has a lot of experience in getting data on banks you expect correctly yes the last question will answer it's not an easy one but I think it's something that probably most people want to know what is the repayment timeline for a TMS like what kind of payback you and are you looking for I think Jeff the way I answer that is definitely it depends I've seen a lot of situations and a lot of clients of ours that pay that back within a matter of months some need them more quickly but sometimes it can take longer i think the qualifier is kind of the real core of our presentation if you're looking at just automation it's going to take a heck of a lot longer than if you're looking at these business value opportunities if part of your business case is that we established or increase the effectiveness of our let's just say our hedging program or improved our working capital by a significant magnitude your paybacks can be fast because those deliver a tremendous amount of value compared to the cost of implemented charge of management system but if you're just looking at time savings and while I saves you know four hours here two hours there Wow ten hours a month over here you know your payback maybe it could be up to a year or even a little bit more if that's all of your business case right I mean duh I would say that that's the right place to start with an analysis which is how long you know will it take me to get a return on this investment there are other considerations there's control it could be a Sox requirement that you have to put a system in so there could be other considerations and of course this new capability in the strategic discussion we're having is around having a system that gives you much more than just efficiencies and and control but new capabilities to to become the financial nerve center of the organization that's great just thank you and I think based on time I know there's still a lot of people that have stayed on we definitely appreciate that I think given where five off to the hour will probably just answer the rest of the questions offline so for though is it ass tonight we'll see quite a few of you so apologies for that but we will answer your questions and for everyone else thanks very much for attending we do appreciate it and we look forward to your feedback either by email to us or through the questions and answers or just in subsequent conversation so again thank you and hope you all have a great day