Misconceptions about treasury engine implementations can lead to setbacks if not addressed early on. One common misconception is that implementing a treasury engine is solely an IT project; in reality, it’s a cross-functional endeavor that requires input and collaboration from finance, operations, and IT departments. Another misconception is that a treasury engine will solve all cash management issues without any changes to existing processes. Often, process re-engineering is necessary to fully leverage the capabilities of the new system. Additionally, many believe that once implemented, the system will function flawlessly without ongoing maintenance. In reality, continuous monitoring, updates, and user training are necessary to address evolving business needs and technological advancements.
Key Takeaway: Treasury engine implementation is a cross-functional effort requiring process changes and ongoing maintenance.