Client Needs: Our client wanted to implement a new TMS and needed to run an RFP in line with the client’s procurement process. Lack of treasury and TMS expertise was a constraint for successful selection.

APS Approach: APS appointed a qualified treasury consultant as project manager who provided TMS expertise and guidance during the RFP process.

The project manager supported the vendor selection process by assessing the proposals and participating in the scoring to identify a shortlist. The project manager actively participated in the development of the TMS demonstration scripts for the vendors to follow, ensuring key functionality was included. They attended all demonstrations. A series of detailed meetings with the final two vendors were attended by the project manager to provide continuity across all aspects of the RFP including functionality, technology, service management, procurement due diligence, reference calls, scoring and vendor contracting.

A key constituent of delivery was the definition of the procurement and project governance frameworks, based on the client’s policies. The project manager ensured that fit for purpose project assurance was followed, minimizing the work effort for the treasury team. Once the team had agreed which vendor should be selected, the project manager oversaw the preparation of the presentations to key stakeholders to gain approval of the recommendation.

Outcome:

  • Approval of Stakeholders was obtained promptly due to the quality of the presentations.
  • Once contracts were signed, the implementation of the TMS commenced straight away, with the project manager responsible for the subsequent phases of the project.
  • Knowledge and experience of the APS principal consultant was successfully transferred to the client.

APS Resources: Principal Consultant and Procurement delivery specialist

Key Statistics:

  • RFP completed within budget
  • Seven vendors approached to respond to the RFP, shortlisted to three and then a final two.
  • From creation of the RFP questionnaire to the signature of contracts took 8 months.
  • Implementation to replace the current solution is eight months from contract signature.
  • Eleven interfaces (import + exports) for 7 applications are required for the new TMS.
  • Process improvements achieved by adopting best practice, including greater visibility of cash positions across the group. All BAU Treasury processes enhanced by the new TMS due to more robust controls and automation.