Custom Image

After gathering your technology requirements, the next step is to identify the right solution vendor and most suitable technology solution from the list of all potential providers. Selecting a wrong vendor could lead to a low adoption rate and a big capital loss. Even worse is being stuck on a long-term contract for software that no one uses.

In this session Keith Raymond, AVP Treasury Sales-East will walk you through how to identify the right vendor for your technology implementation.

Complimentary Webinar

Buying and Implementing Technology For Treasury Professionals : How to identify and short-list vendors?

webinar

Speakers

Tracey Ferguson Knight

Director - Solution Engineering HighRadius

What you'll learn

  • Identifying the treasury solution vendors
  • Common pitfalls to avoid when shortlisting the vendors

About the Webinar

After gathering your technology requirements, the next step is to identify the right solution vendor and most suitable technology solution from the list of all potential providers. Selecting a wrong vendor could lead to a low adoption rate and a big capital loss. Even worse is being stuck on a long-term contract for software that no one uses.

In this session Keith Raymond, AVP Treasury Sales-East will walk you through how to identify the right vendor for your technology implementation.

In Episode 1 we covered the honey evaluation of your existing process and in episode 2 Tracey Ferguson Knight, the Director of Solution Engineering at HighRadius, discusses the methods for finding and short-listing vendors.

Choosing the incorrect vendor might result in poor adoption and a large financial loss; even worse, getting locked into a long-term contract for software that no one uses. Tracey Ferguson Knight explains how to identify the right vendor.

  • Treasury technology trends should be chosen and implemented: First, consider acquiring information about a marketplace, identifying it, and shortlisting it. We don’t want a huge number of providers and items to consider when we get into the real process.
  • Purchasing technology appears to be straightforward, but it isn’t since we aren’t professionals in the field: Seek assistance from persons who are professionals in the industry and strive to obtain their assistance, expertise, and experience. Companies go for the product rather than the huge brand since technology is evolving so quickly. So, constantly be on the lookout for new ones.
  • Begin by reaching out to a large network: Google and Linkedin are our friends; attempt to acquire assistance from them. Talk to folks at local, city chapters to learn about the systems they use. Talk to other people who use the items you’re interested in, such as cash forecasting systems. Use your professional and personal networks to discuss the goods, difficulties, and lessons learned through the process. Read up on the technology and product as much as you can.
  • Vendors should be screened using tech guides (AFP, strategic, treasurer, etc.): Talk to several consultants via tech manuals. There is a lot of technology available to employ. Visit several suppliers’ websites, download and study the paperwork, speak with customers, and read case studies. To learn more about the product, request a demo or give them a call. Define your priorities first, then consider your needs and budget, and then ask for the best. Speak with suppliers; they will be pleased to assist you in keeping up with the latest technology and products. Speak with a specialist who is well-versed on the subject. Share your timetable with them and enlist their assistance in completing the work. They will assist you more if you reveal more.

Don’t think about the company first, but on the product, and then deal with the best ones and grow together. Talk to the salesperson before the deal since his behaviour reflects the company’s culture. Instead of focusing on the product’s look, consider its interface, speed, and purpose.

There’s no time like the present

Get a Demo of Cash Forecasting Cloud for Your Business

Request a Demo

Request Demo Character Man

The HighRadius™ Treasury Management Applications consist of AI-powered Cash Forecasting Cloud and Cash Management Cloud designed to support treasury teams from companies of all sizes and industries. Delivered as SaaS, our solutions seamlessly integrate with multiple systems including ERPs, TMS, accounting systems, and banks using sFTP or API. They help treasuries around the world achieve end-to-end automation in their forecasting and cash management processes to deliver accurate and insightful results with lesser manual effort.