The WWCP report, sponsored by both the ACT and the AFP (a first), really tries to get underneath why technology is important and how to implement it effectively. It covers the development of treasury technology, the drivers for reviewing technology, the purpose and a review of treasury solutions. It uses the memorable phrase: “Treasury departments cannot be strategic when they're stuck in spreadsheets.”

Methodology for effective use of treasury technology

The bulk of the report covers how to use treasury technology, although there are the inevitable WWCP country reports. The report includes:

• the evaluation process:
  • building a business case
  • building a requirements definition and mapping processes
  • what should a requirements definition include: there's a long list of the basic functions in Treasury and proposes a method for evaluating their importance to the treasury department
  • who should be involved?
  • define success criteria
  • how to research the market
  • generating a shortlist as to who should be invited to tender and demo their solution
• the selection process
  • working with the requirements definition
  • building the selection team 
  •   ⁃ key decisions in the selection process
  • can the activity be outsourced?
  • the role of information exchange: providing key information to vendors; information to be sought from vendors; use of reference clients; role of demonstration workshops; identifying how the solution will be implemented
  • making the decision: reviews of different decision making methods
• the implementation process
  • agreeing a contract with vendor
  • building project team 
  • defining the project and developing a project plan
  • resourcing the project
  • identifying the wider impact of the project
  • winning support for new technology
  • managing the ongoing implementation
• maintaining the solution over time
  • using technology effectively
  • how to maintain efficiency over time
• coping with future developments in technology.

---

CTMfile take: This book is a ‘tour de force’ on how to use Treasury technology, although there are some naff bits stating the obvious. The best section, the most original section, is on “maintaining the solution over time” with some innovative ideas here. It should be the starting point for any major project in using Treasury technology, it would be best 90 USD your department has spent for a long time.