Beta for your climb to digital resilience
With economic uncertainty and the recent collapse of major financial institutions, resiliency is top-of-mind for treasury departments. But to get there, you need to understand the journey ahead. The right technology can act as your belay, giving you the support and control you need to tackle the varying demands and surprises of a volatile environment.
That’s where Kyriba comes in. It’s the hallmark tool for high-functioning treasury teams and the best treasury management system (TMS) on the market. With it, you’re making your ascent to a single-source of truth for real-time cash balances, payments, and analytics that drive immediate decision making.
Ready to start the climb? Here’s how to reach the peak of digital resilience:
1. Map out your treasury priorities
Lay out your current-state processes, interview all key stakeholders, take inventory of your financial system landscape, and detail your daily and periodic workflows. Pinpoint the crux of your issues—like manual processes and unreliable data—and use this awareness to design a solution that addresses these pain points. That means getting on the same page for key requirements and aspirations and backing it up with quantitative and qualitative benefits that bolster your ultimate business case.
2. Develop your Kyriba guidebook
Here’s where it’s time to get tactical: with an understanding of your main goals, assess your day-one priorities and secure licenses for your initial users. Align with your banks and other financial institutions early to preempt any resourcing-related delays. And to make for a flash ascent, ensure your plan accounts for extended PTO, high-volume periods (like the end of the fiscal year), and other blackout windows that affect your stakeholders.
3. Climb the first pitch—implement phase one
You’ve got your stakeholders aligned and your strategy in place. Now you need to build and validate your solution. It’s also important to make sure you’re not operating in a silo—by reviewing, iterating, and validating configuration as it occurs, you’re aiding ownership and user adoption down the line.
4. Send it and pride your PRs
Surprisingly, there’s often an emotional element to every project, so don’t be afraid to recognize smaller wins (like establishing connectivity for all your major banks!). Celebrate the journey—not just the destination.
5. Keep projecting—continue to optimize and scale
Once Kyriba is live, you’ve successfully taken a major leap in automation, security, and overall sophistication—but even at the top, it’s not time to quit. Execute against your next phase and continue to employ new innovations and updates that support your existing modules.
We know it’s a lot—and we don’t recommend going solo. Finding the right partner can make the trek a lot easier. When you’re ready to start, so are we.