MidSouth AFP Questions
What are treasury management services?
- Financing (availability/lack of debt financing)
- Cash Management (real-time data and analysis)
- Risk (volatile FX market and fluctuating interest rates)
- Security (technology / fraud prevention)
- Regulations
How does treasury management assist with cash management?
How does treasury management help with receivables/payables?
How does treasury management protect from fraud?
Is your treasury management system/process up to par:
- Does it save time and money?
- Does it add convenience and security?
- Does it utilize technology?
- Does it increase efficiencies and productivity?
- Does it maximize cash flow and liquidity? (know exactly where cash flow stands in real time; process payables and receivables quickly)
- Does it minimize risk?
- How is it reliable, stable, and accountable?
Evaluating treasury management Platform / processes:
- reviewed your treasury management processes in detail within the past two years
- customer service problems arising from a gap in your current treasury management platform
- limited treasury management experience
- Utilizing proven techniques to maximize the value of your cash
What financial tools and technology / systems and technical solutions used to monitor daily flows of capital across multiple business units, allowing you to quickly make adjustments to cash management strategies as market conditions evolve?
How does / Does your TM (system/partner):
- Manage your financial position in the office or mobile
- Gain clearer insight into your cash position and protect against fraud
- Automate accounts payable
- Accelerate accounts receivable
- Monitor and control ACH debit activity
- Reduce procurement costs
- Process payments more efficiently
- Manage cash securely
Questions to Ask Treasury Management Candidates
- How is your organization investing in technology to stay competitive?
- What impact can your service have on my current A/R and A/P processes?
- Describe the user-training components built into your service offerings.
- How long will it take to “go live”?
- From technical and personnel perspectives, how will my business be affected during the transition period?
- What does my IT staff need to know about integrating into our accounting system?
- How will service to my customers be affected during the transition period?
How does treasury management optimize excess cash flow and mitigate operational risks?
- time-tested accounting processes
- capital management techniques
What are some of the risks and controls in treasury operations, or tools to implement to assist with cash flow? such as remote deposit capture, lockbox, or automated clearing house services
Treasury requirements typically link to one of the following objectives:
- Achieving an efficient and cost conscious treasury operation
- Providing value added & strategic treasury support for the business
- Ensuring good governance, risk & compliance (GRC)
- Build resilient treasury functions equipped to handle different risks
What should be on my Treasury Roadmap? A treasury roadmap establishes prioritization and focus for the future development of the treasury function. This results in a clear list of concrete steps in order to further optimize your treasury function, meet internal and external requirements and respond to market developments.
- What strategies do you use to optimize cash management?
- What methods do you use for financial forecasting?
- How do you ensure a company’s compliance with legal regulations?
- What are the major challenges within the Cash/Treasury Management industry?
- How is your company/department using/moving to digital?