TreasuryApps was founded by Gerardo Lopez Haro to improve the technology used by treasury departments and help them to grow into more strategic roles. In his Corporate Treasury experience of more than 20 years, he found that Treasury is mired with manual processes that take hours daily; most of the time, managers react to changes in the business rather than proactively prepare for them, and they spend too much time troubleshooting spreadsheet errors rather than focusing on Treasury transformation initiatives.
Understanding our story requires to understand the context of the TMS market in the US. This is a quote from a survey done in 2016 by Bloomberg and the Association For Financial Professionals (AFP):
“… More European companies (63 percent) use a TMS compared to organizations in North America (40 percent) and the Asia-Pacific region (60 percent).
More than 71 percent of companies with a TMS said their cash visibility was good to very good, demonstrating that using a TMS automates processes, improves cash visibility, and enables the Treasury department to spend more time on decisions that increase value to the firm. And, more than half of the companies with a TMS said the greatest single benefit is either more efficiency or that Treasury is able to do more with less. With a TMS, Treasury can spend more time on analysis, increase controllership, and fulfill its mandate to be more strategic ….”
Gerardo created TreasuryApps TMS to address three painful reasons that prevent most US companies from switching to a TMS:
1) TMS are very expensive
2) Implementations are expensive and difficult, and many experienced people are needed
3) Existing TMS are not flexible enough. Companies usually have to adjust to restrictions imposed by TMS
In these circumstances, TreasuryApps brings to the market a SaaS TMS that:
Improving Productivity In Treasury Requires Building A Strong Business Case:
The greatest single benefit of TreasuryApps TMS is process automation while analyzing large volumes of data and providing strategic information to decision makers. TreasuryApps suggests Treasurers build a case focusing on ROI using the following 5 possible areas:
TreasuryApps Implementation Approach:
TreasuryApps reduces complexities and costs since:
In this market, delivering a working prototype on Day 1 usually takes months of hard work and users get mad. When users save time in implementation and training because TreasuryApps did most of the work behind the scenes, users feel better and collaborate at higher levels of productivity and satisfaction.
Where is TreasuryApps Heading?
TreasuryApps continues developing initiatives that provide strategic information to Treasurers while reducing the workload of Treasury staff. Currently, we focus on 4 areas: Cash reconciliations, cash forecasting, risk management, and market analysis. Why?