The TMS Audit: How to Unlock the Full Value of Your Treasury Management System

Back in the summer, we published an article asking a simple question: “Are you using your TMS to its full potential?”

Check it out

If you missed it, the short answer for most companies was: probably not.

Many treasury teams use their TMS for the basics, payments, and cash visibility. Meanwhile, powerful modules for forecasting, FX, in-house banking, or automation sit untouched.

Our previous article on TMS explored why this happens: rushed implementations, disappearing internal knowledge, and day-to-day pressures that leave no space for optimisation. We also shared a real client story showing how a few focused sessions can unlock immediate value.

But there’s another side to this problem: one we see even more often.

Companies don’t just underuse their TMS… They have no structured way to understand what’s missing, what’s possible, and what they’ve already paid for but never activated.

And that’s exactly where a TMS Audit becomes essential.

In this article, we dive deeper into how a short, targeted review can uncover hidden functionality, eliminate manual work, and give treasury teams a practical roadmap to take their system from “basic mode” to a fully optimised platform.

Why So Many TMS Implementations Get Stuck in ‘Basic Mode’

It’s not that treasury ignores functionality because they are lazy. They ignore it because:

Phase 1 eats all the oxygen.
IT resources vanish the moment go-live ends.
Daily operations take over, and everyone forgets the original business case.
Nobody has time to explore the system properly.
Vendor documentation feels like reading ancient scripture.

So the TMS sits there, half-used. Meanwhile, teams are manually tracking exposures in spreadsheets, calculating intercompany positions by hand, and reconciling FX deals like it’s 2008.

What a TMS Audit Actually Is, and Why It Delivers Quick Wins

If you’re wondering whether your TMS can actually do more for you, the quickest answer is: yes, it can. And no, you don’t need a full re-implementation to figure that out.

A TMS Audit is a short, structured review performed by a consultant who is certified in your specific TMS brand (FIS, Kyriba, Coupa, ION, Cobase, Nomentia, etc.). They speak the system’s language, know what features are hiding under the hood, and understand how treasury teams actually work.

What a TMS Audit Covers: Configuration, Modules, Automation, and More

System configuration vs. current processes
Modules purchased but not activated
Gaps between the original design and today’s reality
Quick wins in automation
Structural fixes that eliminate workarounds
Missed opportunities in liquidity, FX, IHB or forecasting
Data and reporting inefficiencies

This isn’t a months-long consulting saga. The audit typically takes a few days. That’s it.

Your TMS Audit Output: A Clear, Actionable Optimisation Roadmap

At the end, you receive a report outlining:

Where your TMS is underused
What can be automated immediately
Improvements that increase control and reduce risk
Potential cost savings (yes, actual numbers)
Recommended next steps, prioritised based on effort vs. impact

So instead of “we should’ve done more in Phase 2,” you get an actionable blueprint showing what to activate, optimise or redesign.

Ready to Unlock Your TMS? Let’s Identify Your Optimization Opportunities

Sound’s painfully familiar? Great! You’re not alone. Most treasurers are running powerful systems at 40 percent of capacity.

If you want to know what your TMS can really do, let us run a short audit. We’ll send a certified specialist who knows your platform inside out and can spot optimisation opportunities within days.

Your TMS is already installed.
You’ve already paid for the modules.
You might as well use them.