IN 100 WORDS
The selection of TMS may be divided into the following steps:
1. Gathering functional and technical requirements, and preparation of RFP (request for proposal).
2. TMS providers landscape research, preparation of the participant’s long list, sending out RFP.
3. Analysis of RFP responses, making the shortlist.
4. Demo sessions, refining Q&As, reference calls.
5. Negotiations/Winner selection
6. Preparation of SOW (Statement of work)
7. Legal review and signing of the contract.
Tip: TMS implementation is a strategic decision and shall be thought up and realized in advance.
Konstantin Khorev
Seasoned Treasury Professional
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