The final instalment of The Global Treasurer’s “Treasury Implementation Series.” Over the past five parts, we have navigated the entire project lifecycle. From kickstarting the journey (Part 1) and surveying the technology landscape (Part 2), to mastering vendor selection (Part 3). Managing the system build (Part 4), and finally, preparing the people and processes through testing and training (Part 5).
With a fully tested system and a prepared team, we arrive at the climax of the project: the Go-Live event. But crossing this finish line is not the end; it is the beginning of a new phase focused on adoption, value realization, and continuous improvement.
This concluding article guides you through the final steps of the project itself—managing the cutover and providing post-launch support—and then explores the crucial ongoing activities that ensure your new treasury solution delivers on its strategic promise for years to come.
1. The Go-Live Event
The go-live, or cutover, is the process of switching from your old systems and processes to the new solution. It requires military-precision planning and execution to minimize disruption to the business.
- Insight and Analysis: The goal of a go-live is for it to be as uneventful as possible. A “boring” go-live is a successful go-live, and this is achieved through meticulous planning, not luck.
- Step-by-Step Guidance:
- Develop a Detailed Go-Live Plan (Runbook): This document should outline every single task that needs to be performed, the owner of each task, the dependencies, and the specific timing, often down to the minute.
- Choose Your Cutover Strategy:
- Big Bang: The entire organization switches to the new system at once. It’s higher risk but can be faster and simpler if executed perfectly.
- Phased Rollout: The new system is rolled out by module, business unit, or geography over time. This reduces risk but extends the project timeline.
- Parallel Run: The old and new systems are run simultaneously for a period. This is the safest option but also the most resource intensive.
- Establish a “Command Centre”: Set up a physical or virtual “war room” with all key project members (treasury, IT, vendor) present and available during the cutover weekend to manage activities and resolve issues in real-time.
- Communicate Clearly: Keep all stakeholders, especially end-users and senior management, informed about the cutover progress and what to expect on “Day 1.”
2. Post-Go-Live Support
Immediately following the go-live, it’s essential to provide a period of intensive, heightened support to users as they begin working in the new environment.
- Insight and Analysis: The first few days and weeks are critical for building user confidence and addressing the inevitable small issues and “how-to” questions that arise.
- Step-by-Step Guidance:
- Define the Hypercare Team: This team typically consists of your internal project team, “super-users,” and dedicated support staff from your vendor. They should be highly visible and accessible.
- Provide On-the-Floor Support: Have support staff physically (or virtually via dedicated channels) available to help users directly at their desks.
- Establish a Clear Triage Process: Implement a simple process for users to log issues and a clear system for the hypercare team to prioritize and resolve them quickly (e.g., distinguishing between critical system bugs, training issues, and minor queries).
- Daily Check-in Meetings: Hold brief daily meetings with the hypercare team to review issues, track progress, and share solutions to common problems.
3. The Transition to Business-as-Usual (BAU)
Hypercare is a temporary phase. A key project milestone is the successful transition of ongoing support to your standard IT helpdesk or business support model.
- Insight and Analysis: A well-managed transition ensures that long-term support is sustainable and that the project team can be formally disbanded or moved to other initiatives.
- Step-by-Step Guidance:
- Define Exit Criteria: Clearly define the conditions under which hypercare will end (e.g., number of open critical issues below a certain threshold, a stable number of support requests).
- Knowledge Transfer: Ensure a thorough handover of all system documentation, configuration details, and support procedures to the BAU team.
- Update Support Channels: Communicate to all users the new, permanent process for logging support tickets.
- Formal Project Closure: Once the system is stable and the transition is complete, formally close the project. This is a crucial step to recognize the team’s efforts and officially mark the end of the implementation phase.
4. Beyond Go-Live
This is where the true strategic value of your implementation is realized. The project’s end is the beginning of the solution’s life.
- Insight and Analysis: The full ROI of a treasury implementation is achieved not just by replacing a system, but by continuously leveraging its capabilities to improve processes and drive better business decisions.
- Step-by-Step Guidance:
- Measure Success Against Original Objectives: Return to the business case and KPIs you established in Part 1. Regularly measure and report on key metrics (e.g., reduction in manual processing time, improvements in forecast accuracy, reduction in bank fees or borrowing costs).
- Establish a Governance Model: Create a process for gathering, evaluating, and prioritizing user feedback and enhancement requests for the new system.
- Plan for Future Phases: Many implementations are phased. Begin planning for the rollout of future modules or functionalities that were part of the long-term roadmap.
- Ongoing Training: As new features are released or new staff join, ensure there is a process for ongoing training to maintain a high level of user proficiency.
- Practical Tool (Conceptual): KPI Dashboard: Create a simple dashboard to track the key metrics that your project was intended to improve. This provides clear visibility to senior management on the value being delivered by the new system.
The Treasury Transformation Journey
Over these six parts, we have journeyed through the entire lifecycle of a treasury implementation. From the spark of an idea to the stability of a live, value-adding solution. We’ve seen that success rests on a balanced foundation of strategic planning, diligent process, powerful technology, and, most importantly, engaged people.
A treasury transformation is more than a project. It is a continuous journey of improvement that positions the treasury function as a resilient, insightful, and indispensable strategic partner to the business.
