[{"data":1,"prerenderedAt":701},["ShallowReactive",2],{"blog-\u002Fblog\u002Ftreasury-management-system-requirements-checklist":3,"blog-related-\u002Fblog\u002Ftreasury-management-system-requirements-checklist":676,"blog-surround-\u002Fblog\u002Ftreasury-management-system-requirements-checklist":700},{"id":4,"title":5,"audience":6,"body":9,"cluster":638,"conversionGoal":639,"cornerstone":640,"date":641,"description":642,"draft":640,"extension":643,"factCheckedAt":644,"faq":645,"featured":640,"language":644,"meta":655,"minRead":656,"navigation":73,"order":657,"originalAsset":644,"path":658,"pillar":659,"primaryKeyword":660,"publicationOrder":661,"relatedProject":644,"releaseScope":644,"reviewCycle":662,"reviewMethod":644,"reviewStatus":663,"reviewedAt":644,"reviewedBy":664,"searchIntent":665,"seo":666,"sources":644,"stem":667,"tags":668,"type":673,"updated":674,"__hash__":675},"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":619},"minimark",[12,31,34,39,51,55,60,106,110,149,153,192,196,235,239,272,276,309,313,371,387,391,394,414,421,425,432,547,555,559,585,589,602,605],[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",[13,376,377,378,381,382,386],{},"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. It also tells you ",[20,383,385],{"href":384},"\u002Fblog\u002Fbest-treasury-management-system","which category of TMS"," you should be shortlisting in the first place: the requirements that survive the cull are usually a clear pointer to spreadsheet, ERP module or specialist system.",[35,388,390],{"id":389},"how-to-prioritize-must-should-could","How to prioritize: must \u002F should \u002F could",[13,392,393],{},"Tag every surviving requirement:",[61,395,396,402,408],{},[66,397,398,401],{},[16,399,400],{},"Must"," — the system is genuinely unusable for you without it. Keep this list short; if half your requirements are \"must,\" none of them are.",[66,403,404,407],{},[16,405,406],{},"Should"," — important, but there's a workaround you could live with for a while.",[66,409,410,413],{},[16,411,412],{},"Could"," — nice to have; a tiebreaker at most.",[13,415,416,417,420],{},"This is what lets you compare vendors on ",[43,418,419],{},"what matters to you"," rather than on who has the longest feature list.",[35,422,424],{"id":423},"turn-the-checklist-into-a-scoreable-workbook","Turn the checklist into a scoreable workbook",[13,426,427,428,431],{},"A checklist you tick is a start; a checklist you can ",[43,429,430],{},"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:",[433,434,435,451],"table",{},[436,437,438],"thead",{},[439,440,441,445,448],"tr",{},[442,443,444],"th",{},"Column",[442,446,447],{},"What goes in it",[442,449,450],{},"Why it earns its place",[452,453,454,479,495,508,521,534],"tbody",{},[439,455,456,462,476],{},[457,458,459],"td",{},[16,460,461],{},"Req ID",[457,463,464,468,469,468,472,475],{},[465,466,467],"code",{},"CASH-01",", ",[465,470,471],{},"PAY-03",[465,473,474],{},"CONN-02","…",[457,477,478],{},"Lets a demo score or a UAT test trace back to the line",[439,480,481,486,492],{},[457,482,483],{},[16,484,485],{},"Requirement",[457,487,488,489,491],{},"The capability, in ",[43,490,380],{}," words",[457,493,494],{},"Not the vendor's feature name",[439,496,497,502,505],{},[457,498,499],{},[16,500,501],{},"Category",[457,503,504],{},"Cash · Connectivity · Payments · Risk · Accounting · Reporting · Non-functional",[457,506,507],{},"Groups and balances the list",[439,509,510,515,518],{},[457,511,512],{},[16,513,514],{},"Priority",[457,516,517],{},"Must \u002F Should \u002F Could",[457,519,520],{},"Drives the weighting in the scorecard",[439,522,523,528,531],{},[457,524,525],{},[16,526,527],{},"Business need",[457,529,530],{},"The question it answers \u002F decision it unblocks",[457,532,533],{},"Defensibility — a requirement with none gets cut",[439,535,536,541,544],{},[457,537,538],{},[16,539,540],{},"Evidence",[457,542,543],{},"Demo result, reference answer, UAT test ID",[457,545,546],{},"Proof it's actually met, not just claimed",[13,548,549,550,554],{},"The payoff is traceability: every requirement line has an ID that flows into the ",[20,551,553],{"href":552},"\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.",[35,556,558],{"id":557},"what-usually-goes-wrong","What usually goes wrong",[61,560,561,567,573,579],{},[66,562,563,566],{},[16,564,565],{},"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.",[66,568,569,572],{},[16,570,571],{},"Copying a vendor's grid."," You inherit their framing and their strengths, and you miss the requirements specific to your business.",[66,574,575,578],{},[16,576,577],{},"Ignoring the non-functional."," Integration, data, security and support decide whether the implementation succeeds — and they're the lines checklists skip.",[66,580,581,584],{},[16,582,583],{},"No traceability."," Requirements no one can tie back to a business need; you can't defend them, and they bloat the evaluation.",[35,586,588],{"id":587},"using-this-in-selection","Using this in selection",[13,590,591,592,596,597,601],{},"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. Score the shortlist against those weighted requirements in the free ",[20,593,595],{"href":594},"\u002Ftools\u002Ftms-vendor-scorecard","TMS Vendor Scorecard",", and build the numbers behind the case with the ",[20,598,600],{"href":599},"\u002Ftools\u002Ftms-business-case-calculator","TMS Business-Case Calculator",".",[603,604],"hr",{},[13,606,607],{},[43,608,609,610,614,615,601],{},"See also ",[20,611,613],{"href":612},"\u002Fblog\u002Ftms-vs-erp-treasury-vs-spreadsheets","TMS vs ERP vs spreadsheets"," and ",[20,616,618],{"href":617},"\u002Fblog\u002Fwhen-do-you-need-a-treasury-management-system","when you need a TMS",{"title":620,"searchDepth":621,"depth":621,"links":622},"",2,[623,624,634,635,636,637],{"id":37,"depth":621,"text":38},{"id":53,"depth":621,"text":54,"children":625},[626,628,629,630,631,632,633],{"id":58,"depth":627,"text":59},3,{"id":108,"depth":627,"text":109},{"id":151,"depth":627,"text":152},{"id":194,"depth":627,"text":195},{"id":237,"depth":627,"text":238},{"id":274,"depth":627,"text":275},{"id":311,"depth":627,"text":312},{"id":389,"depth":621,"text":390},{"id":423,"depth":621,"text":424},{"id":557,"depth":621,"text":558},{"id":587,"depth":621,"text":588},"tms-fundamentals","tms-rfp-template",false,"2026-07-23","A practical TMS requirements checklist — cash, connectivity, payments, risk, accounting, reporting, plus the non-functional requirements teams forget.","md",null,[646,649,652],{"question":647,"answer":648},"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":650,"answer":651},"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":653,"answer":654},"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.",{},6,4,"\u002Fblog\u002Ftreasury-management-system-requirements-checklist","treasury-management-systems","TMS requirements checklist",11,"annual","reviewed","Tan Gravam","informational-commercial",{"title":5,"description":642},"blog\u002Ftreasury-management-system-requirements-checklist",[669,670,671,672],"treasury","tms","requirements","finance-systems","text","2026-07-26","5cxpZZhmPuDLS6SY6WLVohGWePvXrXK_wxeCBVehIfQ",{"related":677,"prev":690,"next":693,"hasOrder":73,"place":696},[678,682,686],{"path":679,"title":680,"description":681},"\u002Fblog\u002Ftreasury-management-system-total-cost-of-ownership","Treasury Management System Total Cost of Ownership","The TCO of a TMS is the full lifetime cost: not just the licence, but implementation, integration, internal effort, upgrades. Why the licence is the tip.",{"path":683,"title":684,"description":685},"\u002Fblog\u002Ftms-pricing-and-licensing-models","TMS Pricing and Licensing Models","How treasury management system vendors price and licence their software — SaaS vs perpetual, the dimensions they charge on, and what really drives the cost.",{"path":687,"title":688,"description":689},"\u002Fblog\u002Fbuild-vs-buy-treasury-management-system","Build vs Buy a Treasury Management System","For almost every corporate, buying a TMS beats building one, because a package embeds decades of connectivity and compliance. When build makes sense, and why.",{"path":691,"title":692,"type":673,"language":644},"\u002Fblog\u002Fmodular-vs-monolithic-treasury-management-system","Modular vs Monolithic Treasury Management Systems",{"path":694,"title":695,"type":673,"language":644},"\u002Fblog\u002Ftreasury-management-system-business-case","Building the Business Case for a Treasury Management System",{"label":697,"position":698,"total":698,"hub":699},"TMS Fundamentals",7,"\u002Ftopics\u002Ftreasury-management-systems",[],1787475406174]