The Gartner Group ”Bankers Guide to Cross-Asset-Class Treasury and Trading Software application Vendor Functionality” highlights three areas when analyzing how to improve quality in information process when selecting software vendor.
– Employ cross-asset-class treasury applications to reduce segregation and redundancy of treasury business processes, and to better leverage information for risk and performance management.
– Evaluate vendor functionality in the context of not only a firm’s immediate needs but also its longer-term (three- to five-year) business plan. In addition to instrument coverage and extensibility, assess transaction capacity and the agility of information processes.
– Avoid adding to or patching existing treasury applications to extend functionality as a ”quick fix” alternative to replacement. Plan treasury software renewal and functional needs as part of an overall architecture that maps to the strategic intent of the business.
Source: Gartner Group 2011