The journey of All CMS: 15 years of experience and proximity

Fifteen years ago, Ernesto de la Calle and Pierre Bouaziz decided to found All CMS with a clear purpose: to help Spanish companies modernize their cash management. Esther Nieto and Ignacio Ramos soon joined them, focusing equally on people and technology, and together they defined their own approach: combining technical expertise with the sensitivity of those who understand that behind every financial decision there are people, teams, and relationships.

The vision was simple but ambitious: to provide rigorous and approachable advice so that financial teams could focus on what was important and, as they used to say, “so that treasury teams could also enjoy their 11 a.m. coffee without any surprises.”

With these complementary professional backgrounds, All CMS built its DNA: combining expert knowledge, consultative strategy, and a close relationship with clients and collaborators.

From the outset, All CMS was committed to stable and measured growth. It was not a question of growing at any cost, but of consolidating the trust of clients and partners step by step, prioritizing quality over quantity.

This approach has allowed us to keep our values intact:

• Proximity, because we listen to and understand the real needs of each client from the moment they contact us until we implement and provide support.
• Professionalism, because each implementation is approached with rigor and commitment from a technological, strategic, and consultative perspective.
• Respect for people, because we believe that technology only makes sense if it improves the lives of those who use it.

Over the years, we have established ourselves as a true travel companion for financial management. Our approach as consultants focuses on asking the right questions when clients are considering investing time, money, and resources in a TMS implementation project.

Through our methodology, we help them take a step back, identify priorities, and make informed decisions. In this way, an implementation ceases to be a simple technology project and becomes a strategic opportunity for the entire treasury function.

Since our inception, we have competed for large account projects against major consulting firms. We did so with a different approach: real treasury experience, practical vision, and the proximity of a team of former treasurers.

This approach has consolidated our position in the Spanish market, with a reputation recognized among competitors, solution publishers, and collaborators.

Since 2011, we have been Kyriba’s official partner in Spain. In these almost 15 years of collaboration, we have:

• Supported their brand positioning and growth in the Spanish market.
• Received awards such as Most Experienced Partner at the Kyriba Partner Summit 2023 and Best European Reseller Partner in 2025.
• Achieved recognition for the speed and excellence of our implementations: cash management projects implemented in less than two months from the signing of the agreement.

Beyond the awards, what we value most is the trust placed in us by our customers and partners. As Kyriba told us: “All CMS is one of the most competent partners, with an impressive track record of fast, high-quality implementations.” For us, that is the most valuable reward.

At the heart of All CMS beats an exceptional team. We approach each project with confidence and assurance because we know who is implementing it: a united team of former treasurers and financial management experts who know firsthand the challenges of the profession. They are certified consultants who bring technical rigor, but also humanity, warmth, and empathy.

Our team is the strategic pillar that accompanies the client throughout the transformation process, from the initial approach to day-to-day management. Thanks to them, we have managed to maintain the satisfaction of 9 out of 10 clients who would recommend us for three consecutive years.

It seems cliché to talk about the profound change in the role of the treasurer over the last 15 years. At All CMS, we have experienced all these changes firsthand, which have been accompanied by profound changes in the banking system, the technological environment, and the regulatory framework.

If we look back at how treasury management was in 2010, through the concerns and trends that appeared in the most specialized press, treasury was very operational. It focused on functions such as cash management, cash flow forecasting, and banking relationships. The focus was on controlling liquidity risk along with exchange rates, interest rates, and credit risk. The level of automation was in its infancy, with TMS in the adoption phase and a heavy reliance on Excel. The focus was on weathering a deep financial crisis, with treasurers acting as guarantors of short-term liquidity.

By 2025, the landscape has changed radically. Liquidity and financial risks continue to be managed, but the approach is more strategic. Participating in capital structure management, leading regulation-driven ESG initiatives, adopting centralized and scalable structures, and outsourcing operational functions such as payments are examples of the concerns of today’s treasurers. The use of technology is widespread, with a banking system much more open to APIs, multiple cloud-based TMSs for all sizes of companies, and the emerging use of AI.

Over the years, we have seen financial crises and recoveries, mergers, acquisitions, cyberattacks, digital disruptions, and regulatory changes. Each challenge has taught us that the most important thing is not to have all the answers, but to know how to listen and adapt.

The accumulated experience has brought with it great challenges for companies:

• Adjusting models to be scalable and adapt to less in times of crisis and more in times of expansion.
• Standardization of processes to have replicable models when scaling up.
• Digitization and automation: to accompany the two previous points and move from manual processes to automated platforms and real-time management systems.
• Financial and business risk management to adapt operations and liquidity needs in times of financial crisis, currency fluctuations, and interest rate changes. The goal is to limit the uncertainty that is inherent in these new times.
• Regulatory compliance: adaptation to new local and international regulations has been constant.

Over the last 15 years, treasury has evolved:

• Legal and regulatory changes: the arrival of SEPA, PSD2, and European anti-money laundering directives have transformed the way we operate. Electronic invoicing is no longer an option but an obligation, accelerating the digitization of processes.
• Technological transformations: the emergence of SaaS, the rise of the cloud, the integration of banking APIs, the evolution of SWIFT, and the migration to ISO 20022 have marked a turning point in payment management and banking connectivity.
• Cybersecurity at the center: with more digitization came greater risks. Treasury departments have had to shield themselves from fraud attempts, business email compromise (BEC), and increasingly sophisticated cyberattacks.
• Innovation and obsolescence: classic programs such as “On Premise” were left behind, replaced by SaaS solutions that facilitate standards adjusted to changing requirements at a speed never seen before.

Looking back, this journey reflects not only the evolution of treasury, but also our clients’ ability to adapt and transform with resilience. And for us, it has been a privilege to accompany them every step of the way. Thanks to this reflection and seeing all the changes we have overcome, we know that we are prepared for whatever comes next.

After all these years, there are lessons that remain relevant:

• Treasury is strategy: controlling cash flow means ensuring the continuity and growth of operations in multiple scenarios, as anything is possible: liquidity crises, pandemics, raw material supply crises, wars… and whatever else may come.
• La tecnología es aliada: automatizar libera tiempo para analizar a pasado y planificar a futuro, simular escenarios, medir impactos, corregir en tiempo récord, tener modelos escalables…
• Communication is key: treasury does not work alone; it needs to interact with finance, purchasing, sales, and management. That is why the skills of human teams are key to the success of companies. Working in multidisciplinary, international, project-based teams, always living with change, learning to manage expectations, stress, and frustration. The leaders of these teams are also changing radically, going from bosses to colleagues who absorb uncertainty, accompany the team, facilitate achievements, and look ahead with optimism and passion.
• Flexibility means continuity: adapting quickly to changes in the environment as best as possible, always rowing in turbulent waters, requires a level of resilience from teams and organizations never seen before.

Without a doubt, the main lesson is that long-term relationships of trust are the best asset of any company.

The future of treasury lies in automation, artificial intelligence, and the global interconnection of financial systems. But for us, technology is only a means to an end. The true value of the ” ” will continue to lie in human support, judgment, and the ability to build lasting relationships.

After 15 years, we can say with certainty that treasury not only manages resources, but also drives decisions that transform businesses. And that will continue to be our motivation for the future.

We want to continue growing with the same spirit that has brought us this far: step by step, with solid projects, an exceptional team, and clients who trust us as their traveling companions.

This is just the beginning of a new chapter. The next 15 years promise to be as exciting as the ones we have already experienced, and at All CMS we are ready to continue writing them, All Together.