The Covid-10 pandemic has seen a growing demand for cloud-based treasury solutions.
As with every crisis cash became the focus area of the CFO, the treasurer and in some instances even of the Board. The most sought-after solutions are those that provide forecasting, cash visibility and a central platform for managing online payments across several banking partners. A concern many corporates have is whether how these solutions can be implemented and roll-out to subsidiaries during a pandemic.
Blokken’s Chris van Dijl moderated a virtual session at the ACT Middle East Treasury Summit 2021, held on September 28th and 29th focusing on the remote implementation of treasury solutions during the Covid-19 pandemic.
The session high-lighted that many solution implementation projects were completed whole online. A remote system implementation adds significant benefits for both the vendor and the corporate and several treasury solution implementations were competed fully remotely during the pandemic.
A key take-away from the session was that not everything should be done remotely. The initial scoping exercise should be done as much as possible on-site. A company is not just a combination of a multitude of processes, it also is formed by its culture, risk profile, organisation structure and internal power struggles. These last few items are very difficult to understand through a Zoom or Teams call and can only be understood when the vendor or implementation consultant is on the ground.
Blokken acts as the eyes and ears on the ground for both the vendor and the corporate. To know more, please contact Blokken on firstname.lastname@example.org.