Building a business case for Treasury Tech

  • Post
    • February 13, 2024 at 11:08 am
    Patrick Kunz
    Keymaster
    NL
    in todays article Cobase disucsses how to build a business case for treasury tech projects.

    This made me wonder if there are other tips and tricks for getting your treasury tech project funded and / or internally approved ?

    Is they need for automation more important or would the CFO be interested in ROI only ?

    Or is the need for faster information/data ?

    Happy to hear opinions.

    • This topic was modified 5 months, 2 weeks ago by Patrick Kunz.
    Treasury for champions
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  • Replies
    • March 7, 2024 at 10:10 am
    Adesola
    Participant
    I am a big believer in building a business case for investment in technology of  any sort and Treasury should be setting that example for the rest of the business.

    What I have found works for me is having your CFO/Head of Finance on board with the idea on an informal basis for starters. There is no one-size-fits all when it comes to what are the “benefits”/justification that would convince the budget approvers to put their seal on it; and that is why aligning your needs with that of the CFO’s is vital.

    • July 12, 2024 at 2:33 pm
    BasRebel
    Participant
    I would argue that one shoots him/herself in the foot if you start on a treasury technology project WITHOUT a business case done first.

    Building the business case is sothing like creating a project initiation document and defines objective, scope effort/cost, benefit and assumptions. The business case will proof itself very useful along the journey of implementation, amongst others for these reasons:

    • It creates (upfront) buy in from stakeholders
    • It acts as a basic document for education and communication about the project
    • It acts as a reference point for other to feedback (e.g. regarding handshakes with other processes and projects and dependencies)
    • It established a framework / benchmark for KPIs to measure success
    • It acts as a reference point in case material changes occur
    • It may help explain underperformance if certain conditions have not been met

    I believe a business case is a very useful document as it can be the north star of a project.

     

    Listen also to the discussion I had recently on this with Andreas Gefnider as part of the TIS Payments Hub Podcast.

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