"As well as helping us save a lot of time when we were deploying our new treasury management system, Redbridge shared its in-depth knowledge of treasury management best practice, particularly regarding payment processes and bank connectivity."
Engagement overview
- Project initiated immediately after Vusion selected a new treasury management system
- Designing the Group’s treasury processes
- Helping set up bank connectivity
- Providing support during the implementation of the new system
Objectives
- Get the new treasury tool up and running throughout the Group
- Make suggestions about how to improve the Group’s treasury processes
Results
- Definition of Group treasury processes
- Implementation of a single payment system
- Establishment of a consolidated cash position
- Implementation of cash reconciliations and budget analysis
- Implementation of bank connectivity
Methodology
The process consisted of three phases:
Phase 1: Design of the treasury organisation and target processes
– Definition of new treasury processes and set-up of bank connectivity
– Validation of technical and functional specifications
Phase 2: Implementation / training
– Identification and collection of data to build the system’s data repository
– Helping onboard staff members and train them in how to use the new system
Phase 3: Testing and going live
– Defining testing strategies and scenarios and providing support during their execution
– Monitoring of payment testing with banking partners
Value added by Redbridge
- Providing the necessary technical expertise
- Comprehensive project management in collaboration with all relevant teams
- Helping determine functional and technical requirements
- Providing teams with training