Creating a forward-looking treasury function
Project overview and objectives
A manufacturing company came to us with decentralized treasury operations, concerns about data integrity, and highly manual processes for posting journal entries, compiling liquidity reports, and creating and approving payments across multiple banking platforms. These conditions drained the team’s bandwidth, creating a reactive environment that hindered their ability to lead strategic, forward-looking projects.
What we did
With the help of Kyriba, a lot of cross-team collaboration, and organizational buy-in, we:
- Analyzed current-state pain points and delivered an exhaustive future-state design
- Built a comprehensive business requirements matrix that maximized automation, built a single-source of truth for cash balances and bank account details, expedited payments, and tightened controls
- Led biweekly working sessions that reviewed build, facilitated real-time feedback, and promoted user adoption
- Guided training sessions and created customized guides, UAT scripts, and go-live checklists to support change management
Impact
By the time the project finished, this organization unlocked:
- 100% cash visibility by connecting all banks to Kyriba
- 80+ hours of monthly time savings with 10 custom, executive-level dashboards via Qlik Business Intelligence
- 200+ payment templates to accelerate treasury payments, plus fraud prevention tools to maximize controls
- One source of truth for all bank account details, including tracking of 3,000+ authorities and storing and analyzing monthly fees
- 100% cash accounting automation, from journal entry creation through ERP integration
No matter the state of your current treasury operations, there’s always room to uncover efficiencies. Learn how a Kyriba implementation can set your teams up for success, significantly reduce repetitive manual tasks, and keep your organization forward-looking.