TMS Selection Service – Boost the traditional selection process using bespoke technology!

December 2022
10 min read

Are you overwhelmed by the sheer volume of different Treasury Management Systems on the market?

Do you have difficulties setting out your treasury technology requirements (both from a functional as well as IT perspective), or matching those to the latest capabilities of a modern TMS? Are you wishing for a technology selection process that is less cumbersome and time consuming? If you said ‘yes’ to any of these, then we might have the solution for you!

Introducing the TMS Selection Service powered by Zanders Tech-Select, our new cloud-based Treasury Technology Selection tool designed to give you an easier, quicker way to select a new treasury management system best supporting your specific needs, or to evaluate your current TMS against other alternatives. For over 25 years, Zanders has been helping organisations across the globe to select treasury management systems and other related treasury technology. As an independent and unbiased expert, we have built extensive experience into how best to assist our clients to select, implement and deploy the most appropriate solution for their technology needs – it is this insight that drove us to develop a system to modernize the commonly used RfP process.

Zanders Tech-Select is the driving force behind our TMS Selection Service and accelerates your TMS selection project by addressing the traditional challenges faced by organizations when choosing treasury technology solutions & services, and introduces several other benefits:

  • Provides a broad overview of the TMS market, giving you access to a wider range of potential vendors that can provide systems supporting your needs, and the most up-to-date insights on their current capabilities and new product developments
  • Allows you to easily identify and define your functional needs, short-list suitable TMS vendors, and automatically create and issue your RfP, by providing access to our comprehensive library of functional and technical requirements alongside our curated database of vendors, system functionality and capabilities
  • Facilitates and accelerates multi-user assessment and evaluation of vendor responses, by utilising workflows for scoring, the ability to assess user scoring differences, and the opportunity to determine final scores for each vendor
  • Helps you to understand key differentiators between services and functionality on offer from each vendor, using our pre-defined results analytics & drilldowns
  • Helps to streamline and accelerate the RfP process from end-to-end within a single cloud-based platform, removing the need for multiple emails, spreadsheets or complex scoring models
  • Reduces the resource and time investment required to engage with multiple vendors, freeing you to focus on key analysis and value-add activities

Let’s take a deeper look at how Zanders Tech-Select achieves this:

  • Once you’ve chosen from Zanders Tech-Select’s comprehensive library of functional and technical requirements, these are automatically matched to our curated database of system functionality and capabilities in order to present you with a shortlist of systems and vendors that are suited to your specific needs. You can then select which of those vendors you would like to invite for your RfP process, utilise our built-in templates to create covering letters and other attachments, and specify deadlines for acknowledgement, Q&As and final responses.
  • When you are ready to launch your RfP, you simply click the ‘Issue’ button to automatically generate RfP invite emails quickly and easily to all chosen vendors. Once they receive the invite, vendors can use Zanders Tech-Select to access all document attachments, view your requirements, ask any questions, and respond to the RfP. 
  • Once vendors have completed submitting their RfP responses, multiple users from your treasury, finance, IT and procurement teams can use Zanders Tech-Select to independently compare each vendor’s responses to each requirement in a consolidated view, and can assign scores to each. When all users have completed their scoring, the system automatically consolidates their scores and provides you with the opportunity to review and moderate the final scores before moving forwards to analyse the results. 
  • At the final stage, Zanders Tech-Select’s interactive results analytics provide you with several ways to view and drill down into your results. Simply hover over data points to see more detailed information, tick or untick to include or exclude vendors, sections and subsections, or most importantly click on specific scores to drilldown and quickly understand the reasons behind any scoring differences between vendors.

So, is this the end of the traditional selection process and the use of RfP’s? Not really, but our TMS Selection Service powered by Zanders Tech-Select drastically improves on the current RfP processes many corporates are using today.

Zanders is unique in offering an TMS selection solution that includes an extensive library of the most common technology requirements alongside pre-populated and curated responses from over 90% of Treasury Systems currently on the market. The structured, end-to-end process helps to streamline and automate your selection project and is applicable to a wide variety of use cases, enabling a consistent approach to vendor selection based on objective and rigorous evaluation.

Zanders Tech-Select uniquely provides the most efficient, thorough & cost-effective digital selection service within the treasury space, with Zanders experts to guide you throughout. If you would like to find out more about how Zanders can help to streamline your next technology or service selection process, get in touch now.

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