A TMS Can Contribute To Increased Productivity And Growth
- Although a TMS provides operational benefits for treasury, it also gives treasury a more strategic role in managing cash and risk.
- A TMS provides the CFO with the greater global cash visibility, which can improve balance and forecast accuracy.
“It was simply unsustainable to continue logging onto each individual e-banking platform in order to approve payments.”
As Graff Diamonds grew its retail operation to 45 stores in 15 countries around the world, CFO Andrew Nicholson recognized early on the need for a treasury management system (TMS). The challenge of running six regional finance teams that managed banking and payments in 11 currencies across 15 countries was becoming a tremendous burden. “It was simply unsustainable to continue logging onto each individual e-banking platform in order to approve payments,” he says. “We needed a single point of access across all our bank accounts to set up payments, to define different payment types, and to receive notification of pending approvals.”