How to get continued value from the implemented treasury technology

Best practices for getting continued value from the implemented system

• Keep up with all the upgrades of the implemented technology.
• Make sure that all the phases of the buying process are completed.
• Attend the annual conferences or events conducted by the vendors.
• Provide feedback to the vendors.
• Maintain the system regularly for better performance.

How to keep up with all the upgrades of the implemented technology?

In the case of SaaS products, most upgrades come to the clients automatically. But not all the features within an upgrade are automatically forced upon the clients, and they can choose if they want to implement a particular feature. So it’s essential to:

• Have at least one person in the company who keeps up with the release notes and shares them with everybody when there is any new relevant functionality that will benefit the team.
• Attend the webinars and conferences for product training.

What is the important task that needs to be done after all the phases are completed?

The most important thing is to go back to the initial functional requirements and see if the initial requirements and initial KPIs are realized.

How does going to conferences or events conducted by vendors help the clients?

Most vendors offer annual conferences that help to learn how other clients are using the same software or getting different values from it. So, going to conferences gives a chance to learn more ways of how additional value can be obtained from the system.

How does providing feedback to the vendor benefit the clients?

Providing feedback to the vendors encourages them to foster good communication and networking and helps to improve the product.

What are the benefits of ensuring regular system maintenance?

Cleaning up the system for every one or two years ensures the system functions optimally. It helps to:

• Ensure that the system performs as expected.
• Eliminate redundancy.
• Build collaboration with the vendor.