Anita Hawser, Europe editor, at Global Finance magazine called Treasury Management Systems a Treasurers best friend and wrote with cash visibility and control more important than ever, and with risk management becoming an increasing part of the corporate treasurers job, technology is playing an ever more pivotal role. As its sophistication grows, treasury technology can help treasurers better manage cash, accounts, FX and transaction flows.
The evolution of Treasury Management Systems in recent years is astounding. They are designed to enhance the performance of Corporate Treasury through technology. Understanding the systems, functionality, benefits to be gained, delivery methods, and the best fit for your company can be a daunting project.
Join seasoned veterans who have navigated the world of Treasury Management Systems in an in-depth panel discussion. Moderated by Annette Tedesco, CTP, PMP Treasury Systems IT Project Manager at Bright Horizons; she is joined by Keith Bergman, Managing Director at Ledgewood Advisory Group; Michael Bosacco, VP Treasury Solutions at SunGard AvantGard; John Walthier, Treasury Director at Prologis; and Grant Bernardy, Partner at Elire.
Attend the Treasury Management System Panel at the Annual Rocky Mountain Summit (Session A3) where we will answer your questions about the benefits and efficiencies that can be gained from implementing or upgrading a Treasury Management system. The panel will discuss deployment options, considerations for system selection, identifying the best fit for your company, as well as implementation strategies.
RMAFP Financial Report
Based on 1/31/14 financial data
By Matt Watford, Treasurer
As we look forward to the upcoming 2014 RMAFP Summit and the conclusion of yet another successful RMAFP year let?s review the mid-year financial standing of the organization. The Rocky Mountain AFP Executive Committee is committed to keeping our members informed and updated, and is providing this information in an effort to do so. The Finance Committees strategic goal for the 2013-2014 fiscal year was to increase reserves and finish the season with positive net income.
Like most organizations, The RMAFP has been impacted by past economic conditions but is looking to continue to ride the momentum created last fiscal year (2012-2013) when we had positive net income of $7,601, due mostly to the Summit event and the Partnering Committee both coming in over budget, offsetting the Membership Committee being under budget by $3,500 . This year special focus and dedication was placed on the Membership Committee and it was consistently monitored by the Executive Committee, Finance Committee, and Board. The Board focused on driving membership and in conjunction with the Membership Committee has been very proactive in trying to generate memberships and has discussed possibly changing the structure of the RMAFP traditional membership rates.
Committee Updates as of 1/31/14
The Education Committee has a good chance to meet budget this year. They are meeting budget through January 2014 and should continue to by the end of the fiscal year. The CTP review course is the big variable. An emphasis is being placed on recruiting six more attendees to register before the Summit to allow that event to break even and help the Education Committee meet budget for the year.
The Summit Committee has some great early revenue, and as of 1/31/14 can potentially meet budget. This committee is focused on bringing in sponsors, speakers, and attendees to make the event as great as ever. Due to their emphasis on reducing expenses by $2,500 they are currently $18,000 over budget. Most of the expenses will be paid over the next few months so the goal is to break even or exceed budget by a few thousand dollars.
The Membership Committee faces continuous challenges, and was $5,000 below budget as of 1/31/14. This is due to a decline in membership which has become a trend. As mentioned above much emphasis is being placed on changes for improvement in 2014-15 but this year net income will be below budget again.
The Communications Committee is on track to meet budget. This committee has worked on website fixes and marketing materials for the organization so will have negative income but will help the RMAFP by meeting budget or possibly being slightly under budget.
The Partnering Committee is slightly under budget as of 1/31/14 and will likely meet budget by year end.
Administratively, the RMAFP is on track to meet budget, and is looking for ways to work more efficiently and cost effectively.
As of 1/31/14, the RMAFP is over budget by $13,205. This is a snapshot in time and will change with the upcoming Summit expenses but the goal for 2013-14 is to break even or possibly have a few thousand dollars of income to add to the reserve.
In conclusion, the RMAFP continues to focus on the health of the organization in all aspects?education, membership, communication, summit, finance, and partnering. We are committed to maintaining and improving the financial standing of the organization, as well as the offerings to our members. We appreciate your commitment to the RMAFP-our members are the RMAFP!
Matt Watford, Treasurer