[{"data":1,"prerenderedAt":689},["ShallowReactive",2],{"blog-\u002Fblog\u002Ftreasury-management-system-requirements-checklist":3,"blog-surround-\u002Fblog\u002Ftreasury-management-system-requirements-checklist":669,"blog-related-\u002Fblog\u002Ftreasury-management-system-requirements-checklist":678},{"id":4,"title":5,"audience":6,"body":9,"cluster":634,"date":635,"description":636,"draft":637,"extension":638,"factCheckedAt":639,"faq":640,"featured":637,"language":639,"meta":650,"navigation":73,"order":651,"originalAsset":639,"path":652,"pillar":653,"primaryKeyword":654,"relatedProject":639,"releaseScope":639,"reviewCycle":655,"reviewStatus":656,"reviewedBy":657,"searchIntent":658,"seo":659,"sources":639,"stem":660,"tags":661,"type":666,"updated":667,"__hash__":668},"blog\u002Fblog\u002Ftreasury-management-system-requirements-checklist.md","Treasury Management System Requirements Checklist",[7,8],"treasury-system-lead","group-treasurer",{"type":10,"value":11,"toc":615},"minimark",[12,31,34,39,51,55,60,106,110,149,153,192,196,235,239,272,276,309,313,371,382,386,389,409,416,420,427,542,550,554,580,584,587,590],[13,14,15,25,26,30],"p",{},[16,17,18,19,24],"strong",{},"A good TMS requirements checklist covers six functional areas — cash and liquidity, bank connectivity, payments, financial risk, accounting and compliance, and reporting — plus the non-functional requirements (integration, ",[20,21,23],"a",{"href":22},"\u002Fblog\u002Ftms-cloud-security-and-data-residency","security",", data, deployment, support) that teams routinely forget."," But the checklist below is only useful if every line traces back to a real need and is ",[20,27,29],{"href":28},"\u002Fblog\u002Fhow-to-write-a-tms-rfp","prioritized must \u002F should \u002F could",". A requirements list copied from a vendor's feature grid is worse than no list at all.",[13,32,33],{},"Use this as a starting point, delete what doesn't apply, and add the two or three things unique to your business that no generic list would contain.",[35,36,38],"h2",{"id":37},"start-from-your-problem-not-a-feature-list","Start from your problem, not a feature list",[13,40,41,42,46,47,50],{},"Before the checklist, write down the questions you can't answer today and the decisions they block — ",[43,44,45],"em",{},"\"we can't see group cash intraday,\" \"we can't prove who approved a payment,\" \"our forecast is one person's spreadsheet.\""," Those become your ",[16,48,49],{},"must-haves"," and your success criteria. Everything on the list below is a prompt; your business need is what makes an item a requirement.",[35,52,54],{"id":53},"the-requirements-checklist","The requirements checklist",[56,57,59],"h3",{"id":58},"cash-liquidity-management","Cash & liquidity management",[61,62,65,76,82,88,94,100],"ul",{"className":63},[64],"contains-task-list",[66,67,70,75],"li",{"className":68},[69],"task-list-item",[71,72],"input",{"disabled":73,"type":74},true,"checkbox"," Automatic import and consolidation of balances and transactions from all banks",[66,77,79,81],{"className":78},[69],[71,80],{"disabled":73,"type":74}," Intraday and end-of-day cash positioning across entities and currencies",[66,83,85,87],{"className":84},[69],[71,86],{"disabled":73,"type":74}," Cash flow forecasting (multiple horizons and granularities)",[66,89,91,93],{"className":90},[69],[71,92],{"disabled":73,"type":74}," Actual-vs-forecast variance tracking and forecast-accuracy measurement",[66,95,97,99],{"className":96},[69],[71,98],{"disabled":73,"type":74}," Cash pooling support (physical \u002F notional; zero \u002F target balancing)",[66,101,103,105],{"className":102},[69],[71,104],{"disabled":73,"type":74}," Intercompany positions and internal funding visibility",[56,107,109],{"id":108},"bank-connectivity","Bank connectivity",[61,111,113,119,125,131,137,143],{"className":112},[64],[66,114,116,118],{"className":115},[69],[71,117],{"disabled":73,"type":74}," Statement import in your banks' formats (MT940, camt.053, BAI2)",[66,120,122,124],{"className":121},[69],[71,123],{"disabled":73,"type":74}," Payment file generation in required formats (pain.001 \u002F ISO 20022, local formats)",[66,126,128,130],{"className":127},[69],[71,129],{"disabled":73,"type":74}," Connectivity channels you need (SWIFT, host-to-host, EBICS, API)",[66,132,134,136],{"className":133},[69],[71,135],{"disabled":73,"type":74}," Bank onboarding support and pre-built bank connectors",[66,138,140,142],{"className":139},[69],[71,141],{"disabled":73,"type":74}," Acknowledgement \u002F status handling (pain.002) and end-to-end payment tracking",[66,144,146,148],{"className":145},[69],[71,147],{"disabled":73,"type":74}," Coverage for all your current banks — and easy addition of new ones",[56,150,152],{"id":151},"payments","Payments",[61,154,156,162,168,174,180,186],{"className":155},[64],[66,157,159,161],{"className":158},[69],[71,160],{"disabled":73,"type":74}," Centralized payment initiation (payment factory) if required",[66,163,165,167],{"className":164},[69],[71,166],{"disabled":73,"type":74}," Configurable approval workflows and limits",[66,169,171,173],{"className":170},[69],[71,172],{"disabled":73,"type":74}," Segregation of duties enforced in the workflow",[66,175,177,179],{"className":176},[69],[71,178],{"disabled":73,"type":74}," Sanction \u002F compliance screening or integration to a screening tool",[66,181,183,185],{"className":182},[69],[71,184],{"disabled":73,"type":74}," Payment templates, recurring payments and bulk handling",[66,187,189,191],{"className":188},[69],[71,190],{"disabled":73,"type":74}," Full, exportable audit trail of who approved what, when",[56,193,195],{"id":194},"financial-risk-management","Financial risk management",[61,197,199,205,211,217,223,229],{"className":198},[64],[66,200,202,204],{"className":201},[69],[71,203],{"disabled":73,"type":74}," FX exposure capture, valuation and reporting",[66,206,208,210],{"className":207},[69],[71,209],{"disabled":73,"type":74}," Interest-rate (and, if relevant, commodity) exposure and instruments",[66,212,214,216],{"className":213},[69],[71,215],{"disabled":73,"type":74}," Deal capture for hedges and instruments; lifecycle management",[66,218,220,222],{"className":219},[69],[71,221],{"disabled":73,"type":74}," Limit monitoring and breach alerts",[66,224,226,228],{"className":225},[69],[71,227],{"disabled":73,"type":74}," Hedge accounting support (IFRS 9 \u002F your standard)",[66,230,232,234],{"className":231},[69],[71,233],{"disabled":73,"type":74}," Debt and investment portfolio tracking (schedules, interest, covenants)",[56,236,238],{"id":237},"accounting-compliance","Accounting & compliance",[61,240,242,248,254,260,266],{"className":241},[64],[66,243,245,247],{"className":244},[69],[71,246],{"disabled":73,"type":74}," Automated accounting entries and posting back to the ERP\u002FGL",[66,249,251,253],{"className":250},[69],[71,252],{"disabled":73,"type":74}," Reconciliation of treasury sub-ledger to the GL",[66,255,257,259],{"className":256},[69],[71,258],{"disabled":73,"type":74}," Support for your reporting standards and audit requirements",[66,261,263,265],{"className":262},[69],[71,264],{"disabled":73,"type":74}," Configurable controls, approvals and change logging",[66,267,269,271],{"className":268},[69],[71,270],{"disabled":73,"type":74}," Data retention and auditability that satisfies your auditors",[56,273,275],{"id":274},"reporting-analytics","Reporting & analytics",[61,277,279,285,291,297,303],{"className":278},[64],[66,280,282,284],{"className":281},[69],[71,283],{"disabled":73,"type":74}," Standard treasury dashboards (position, forecast, exposure, debt)",[66,286,288,290],{"className":287},[69],[71,289],{"disabled":73,"type":74}," Configurable \u002F ad-hoc reporting without vendor dependency",[66,292,294,296],{"className":293},[69],[71,295],{"disabled":73,"type":74}," Board- and CFO-ready reporting outputs",[66,298,300,302],{"className":299},[69],[71,301],{"disabled":73,"type":74}," Data export and, if needed, a data feed to your BI \u002F warehouse",[66,304,306,308],{"className":305},[69],[71,307],{"disabled":73,"type":74}," Drill-down from a number to its source (provenance)",[56,310,312],{"id":311},"non-functional-the-part-teams-forget","Non-functional (the part teams forget)",[61,314,316,326,335,344,353,362],{"className":315},[64],[66,317,319,321,322,325],{"className":318},[69],[71,320],{"disabled":73,"type":74}," ",[16,323,324],{},"Integration"," — clean interfaces to your ERP and any middleware; documented APIs",[66,327,329,321,331,334],{"className":328},[69],[71,330],{"disabled":73,"type":74},[16,332,333],{},"Security"," — SSO, role-based access, segregation of duties, encryption",[66,336,338,321,340,343],{"className":337},[69],[71,339],{"disabled":73,"type":74},[16,341,342],{},"Data"," — master-data model, migration support, data quality tooling",[66,345,347,321,349,352],{"className":346},[69],[71,348],{"disabled":73,"type":74},[16,350,351],{},"Availability & performance"," — SLAs, uptime, response times at your volumes",[66,354,356,321,358,361],{"className":355},[69],[71,357],{"disabled":73,"type":74},[16,359,360],{},"Deployment"," — SaaS vs on-prem; hosting, region, data residency",[66,363,365,321,367,370],{"className":364},[69],[71,366],{"disabled":73,"type":74},[16,368,369],{},"Vendor"," — implementation approach, support model, roadmap, references, viability",[372,373,375],"callout",{"type":374},"tip",[13,376,377,378,381],{},"Copy the whole list, then do two passes. First pass: delete every line that isn't a real need for ",[43,379,380],{},"your"," business. Second pass: add the handful of requirements unique to you (a specific bank, a regulatory quirk, an odd entity structure). What's left is a requirements document you can defend — and score vendors against.",[35,383,385],{"id":384},"how-to-prioritize-must-should-could","How to prioritize: must \u002F should \u002F could",[13,387,388],{},"Tag every surviving requirement:",[61,390,391,397,403],{},[66,392,393,396],{},[16,394,395],{},"Must"," — the system is genuinely unusable for you without it. Keep this list short; if half your requirements are \"must,\" none of them are.",[66,398,399,402],{},[16,400,401],{},"Should"," — important, but there's a workaround you could live with for a while.",[66,404,405,408],{},[16,406,407],{},"Could"," — nice to have; a tiebreaker at most.",[13,410,411,412,415],{},"This is what lets you compare vendors on ",[43,413,414],{},"what matters to you"," rather than on who has the longest feature list.",[35,417,419],{"id":418},"turn-the-checklist-into-a-scoreable-workbook","Turn the checklist into a scoreable workbook",[13,421,422,423,426],{},"A checklist you tick is a start; a checklist you can ",[43,424,425],{},"trace and score"," is a selection tool. Give every surviving requirement a row with these columns — then the same rows carry all the way into the demo scorecard and, later, UAT:",[428,429,430,446],"table",{},[431,432,433],"thead",{},[434,435,436,440,443],"tr",{},[437,438,439],"th",{},"Column",[437,441,442],{},"What goes in it",[437,444,445],{},"Why it earns its place",[447,448,449,474,490,503,516,529],"tbody",{},[434,450,451,457,471],{},[452,453,454],"td",{},[16,455,456],{},"Req ID",[452,458,459,463,464,463,467,470],{},[460,461,462],"code",{},"CASH-01",", ",[460,465,466],{},"PAY-03",[460,468,469],{},"CONN-02","…",[452,472,473],{},"Lets a demo score or a UAT test trace back to the line",[434,475,476,481,487],{},[452,477,478],{},[16,479,480],{},"Requirement",[452,482,483,484,486],{},"The capability, in ",[43,485,380],{}," words",[452,488,489],{},"Not the vendor's feature name",[434,491,492,497,500],{},[452,493,494],{},[16,495,496],{},"Category",[452,498,499],{},"Cash · Connectivity · Payments · Risk · Accounting · Reporting · Non-functional",[452,501,502],{},"Groups and balances the list",[434,504,505,510,513],{},[452,506,507],{},[16,508,509],{},"Priority",[452,511,512],{},"Must \u002F Should \u002F Could",[452,514,515],{},"Drives the weighting in the scorecard",[434,517,518,523,526],{},[452,519,520],{},[16,521,522],{},"Business need",[452,524,525],{},"The question it answers \u002F decision it unblocks",[452,527,528],{},"Defensibility — a requirement with none gets cut",[434,530,531,536,539],{},[452,532,533],{},[16,534,535],{},"Evidence",[452,537,538],{},"Demo result, reference answer, UAT test ID",[452,540,541],{},"Proof it's actually met, not just claimed",[13,543,544,545,549],{},"The payoff is traceability: every requirement line has an ID that flows into the ",[20,546,548],{"href":547},"\u002Fblog\u002Ftms-vendor-demo-questions-and-scorecard","vendor demo scorecard"," and then into UAT, so \"does it meet our needs?\" is answered by evidence against IDs, not by which demo felt best.",[35,551,553],{"id":552},"what-usually-goes-wrong","What usually goes wrong",[61,555,556,562,568,574],{},[66,557,558,561],{},[16,559,560],{},"Gold-plating."," A 300-line wish list where everything is \"must.\" It can't be prioritized, so vendors optimize for feature-count and you can't tell them apart.",[66,563,564,567],{},[16,565,566],{},"Copying a vendor's grid."," You inherit their framing and their strengths, and you miss the requirements specific to your business.",[66,569,570,573],{},[16,571,572],{},"Ignoring the non-functional."," Integration, data, security and support decide whether the implementation succeeds — and they're the lines checklists skip.",[66,575,576,579],{},[16,577,578],{},"No traceability."," Requirements no one can tie back to a business need; you can't defend them, and they bloat the evaluation.",[35,581,583],{"id":582},"using-this-in-selection","Using this in selection",[13,585,586],{},"A prioritized, business-anchored checklist becomes the backbone of your RFP and your vendor scorecard: each requirement is a scored line, weighted by must \u002F should \u002F could. That turns \"which demo impressed us?\" into \"which system best meets the needs we actually have?\" — the whole point of doing this properly.",[588,589],"hr",{},[13,591,592],{},[43,593,594,595,599,600,604,605,609,610,614],{},"Part of the ",[20,596,598],{"href":597},"\u002Ftopics\u002Ftreasury-management-systems","Treasury Management Systems guide",". See also ",[20,601,603],{"href":602},"\u002Fblog\u002Ftms-vs-erp-treasury-vs-spreadsheets","TMS vs ERP vs spreadsheets"," and ",[20,606,608],{"href":607},"\u002Fblog\u002Fwhen-do-you-need-a-treasury-management-system","when you need a TMS",". The ",[20,611,613],{"href":612},"\u002Fnewsletter","newsletter"," sends one finance-systems pattern, product decision or build lesson every two weeks.",{"title":616,"searchDepth":617,"depth":617,"links":618},"",2,[619,620,630,631,632,633],{"id":37,"depth":617,"text":38},{"id":53,"depth":617,"text":54,"children":621},[622,624,625,626,627,628,629],{"id":58,"depth":623,"text":59},3,{"id":108,"depth":623,"text":109},{"id":151,"depth":623,"text":152},{"id":194,"depth":623,"text":195},{"id":237,"depth":623,"text":238},{"id":274,"depth":623,"text":275},{"id":311,"depth":623,"text":312},{"id":384,"depth":617,"text":385},{"id":418,"depth":617,"text":419},{"id":552,"depth":617,"text":553},{"id":582,"depth":617,"text":583},"tms-fundamentals","2026-07-23","A practical TMS requirements checklist — cash, connectivity, payments, risk, accounting, reporting, plus the non-functional requirements teams forget.",false,"md",null,[641,644,647],{"question":642,"answer":643},"What should a TMS requirements document include?","Functional requirements across cash and liquidity, bank connectivity, payments, financial risk, accounting and compliance, and reporting — plus the non-functional requirements teams forget: integration, security and segregation of duties, data and master-data handling, deployment, and vendor support. Every requirement should trace back to a real business need, and each should be prioritized must \u002F should \u002F could.",{"question":645,"answer":646},"How do you prioritize TMS requirements?","Use MoSCoW — must, should, could, won't. 'Must' means the system is unusable for you without it; keep this list short and defensible. 'Should' is important but has a workaround. 'Could' is nice-to-have. Being honest here is what lets you compare vendors on what actually matters instead of on feature-count.",{"question":648,"answer":649},"What non-functional requirements matter for a TMS?","Integration (how it connects to your ERP and banks), security and segregation of duties, data handling and migration, availability and performance, deployment model (SaaS vs on-prem), and vendor support and roadmap. These decide whether an implementation succeeds far more often than any single functional feature — and they're the ones checklists usually skip.",{},4,"\u002Fblog\u002Ftreasury-management-system-requirements-checklist","treasury-management-systems","TMS requirements checklist","annual","reviewed","Tan Gravam","informational-commercial",{"title":5,"description":636},"blog\u002Ftreasury-management-system-requirements-checklist",[662,663,664,665],"treasury","tms","requirements","finance-systems","text","2026-07-26","xhC-EqyKwNGi_X8OGe-ykJY35jZlE5CR2Av_BdH2cFE",[670,674],{"title":671,"path":672,"stem":673,"type":666,"language":639,"draft":637,"children":-1},"Treasury Management System Implementation Guide","\u002Fblog\u002Ftreasury-management-system-implementation-guide","blog\u002Ftreasury-management-system-implementation-guide",{"title":675,"path":676,"stem":677,"type":666,"language":639,"draft":637,"children":-1},"Treasury Management System Total Cost of Ownership","\u002Fblog\u002Ftreasury-management-system-total-cost-of-ownership","blog\u002Ftreasury-management-system-total-cost-of-ownership",[679,683,686],{"path":680,"title":681,"description":682},"\u002Fblog\u002Fwhat-is-a-treasury-management-system","What Is a Treasury Management System? A Practical Guide for Finance Teams","A treasury management system (TMS) manages cash, liquidity, payments, risk and bank connectivity — what it does, when you need one, and how it fits.",{"path":607,"title":684,"description":685},"When Does a Company Need a Treasury Management System?","You need a TMS when the cost and risk of running cash across many banks, entities and currencies in spreadsheets outweighs the system. Complexity, not size.",{"path":602,"title":687,"description":688},"TMS vs ERP Treasury vs Spreadsheets: How to Choose","Spreadsheets, your ERP's treasury module, or a dedicated TMS? Specialization vs integration vs cost — a head-to-head, and when each is right.",1785182343157]