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Ketharaman Swaminathan
Ketharaman Swaminathan - GTM360 Marketing Solutions - Pune 01 September, 2011, 15:00Be the first to give this comment the thumbs up 0 likes

I have heard about a top global bank that asked exactly the same four questions and spent tens of millions to implement a multicurrency global liquidity management system to find the answers. Midway through the implementation, a combination of challenges related to data quality, systems integration and change management set against the backdrop of a regulatory deadline reduced the scope of a project to a Euro liquidity management system. At the end of the project, liquidity management went largely out the window and the bank was left with a payment processing system for a new payment type.

Not to single out any bank or technology vendor, but noble goals don't always translate into concrete results, which is probably why Excel still reigns supreme. This is not unique to TMS for, according to a saying I've heard, "70% of FORTUNE 500 companies use ERP but 90% of them submit board reports in Excel!" It's not very surprising that so many solutions pitched as "overcoming the tyranny of Excel" don't secure budgets from the C-Suite who are used to seeing fancy reports and charts - not tyranny - in Excel!

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This post is from a series of posts in the group:

Innovation in Financial Services

A discussion of trends in innovation management within financial institutions, and the key processes, technology and cultural shifts driving innovation.

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