Treasurers are keen for their banks to enhance their systems and improve the speed, efficiency and functionalities available – not to mention keeping up-to-date with changing regulatory requirements. But the process of migrating to new treasury systems or platforms can place additional demands on the corporate treasurer. While the onus is on the bank to make the migration as smooth as possible, there are also steps that treasurers can take to improve the experience.
Treasurers are well aware of the significant challenges present with their own systems upgrades or conversions, such as migrating to a new treasury workstation. However, they cannot always anticipate the additional work and costs that may occur when their banking provider enhances its systems. So how can treasurers minimize the disruption and get the most out of a technology upgrade initiated by their treasury services provider?
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