Convincing leadership to implement a new treasury risk management system takes more than a simple ROI. A compelling business case includes strategic, financial, organizational, and operational perspectives that demonstrate all the ways the organization will benefit.
This guide to Building the Business Case provides an in-depth analysis of the three main elements necessary to successfully make your case:
- Strategic Rationale: How will the TRMS help your organization compete, expand, or simply get up to speed with current accepted treasury management practices? In other words, it is essential to meaningfully link how the benefits of the new TRMS will help to achieve the overall organizational imperatives.
- Financial Argument: What is the return on investment over a specific time period that can be achieved through areas such as enhanced liquidity and risk management, greater data accuracy for faster, more informed business decisions, or improved operational effectiveness? Most organizations will have a minimum ROI that must be projected to continue the conversation for new technology.
- Prioritization Explanation: Why should implementing a new treasury risk management system take priority over other projects being considered? Learning the process your organization has in place to consider projects, and what other projects you may be competing against can help you craft your business case to win.
Put your best foot forward in your quest for more effective treasury operations. Download our Building the Business Case eBook today