Steve Wiley | VP, Treasury Solutions, FIS
August 12, 2019
More than two-thirds of companies say treasury’s responsibilities have expanded, with a focus shifting from purely operational to strategic and visionary. Treasurers are increasingly expected to make more precise, timely decisions, while delivering strategic guidance to business leadership. Despite expanded responsibilities and expectations, treasurers struggle to leverage and optimize technology at a time when the consequences of technology lapses have never been greater. The expanding role of the treasury function accelerated pace of innovation, and emergence of new risks from unexpected sources place more pressure on treasurers than ever before.
Many treasury departments haven’t been effective at implementing new technology or leveraging existing technology to solve their growing challenges. According to our 2019 Treasury Modernization Survey, more than half of treasury professionals surveyed said that their current technology is not meeting their needs today. Many companies have implemented treasury management software, but solutions often are lacking or underused for complex tasks such as cash forecasting, risk quantification, and limit setting and monitoring.
FIS surveyed more than 100 treasury professionals across a range of industries around the world to understand current challenges and future opportunities. In 2019 and beyond, treasurers will turn to new technologies to improve controls, achieve greater efficiency and strengthen decision-making.
Here are some key takeaways from our Treasury Modernization Survey:
To learn more about corporate treasury and modernization – download our market survey here.
Tags: Technology, Innovation, Risk and Compliance