Technology enablers

new technology approaches to familiar problems

Technology is transforming the experience of all treasurers, from small, single person treasuries accessing cloud-based solutions to large, multi-site treasuries with dedicated treasury IT and data support. Technology opportunities are expanding and barriers to adoption reducing, with more cost-effective pricing models, lower resource requirements and less implementation risk and complexity.

 

To gain the full value of new solutions, however, treasurers need to look at their needs and identify where pain points are occurring. In many cases, it is the underlying data that is causing problems, not only to achieve advanced capabilities but to support basic treasury requirements. Improving the completeness and integrity of data is therefore becoming a significant priority. With treasury data often owned and held in different parts of the organisation, this can often require a company-wide shift towards a data-driven mindset, an issue that has been key to Microsoft, with some unexpected outcomes.

 

As the role and value of technology and data continues to increase, one of the challenges that treasurers are already facing is how to balance the potential for technology to enhance automation and decision support with the depth of experience and insight offered by professionals both within and beyond treasury, as SSAB explores.

Treasury is becoming more strategic in its role, but this in turn requires a more strategic view of data. Treasury is typically a centralised function, so treasurers need to access data from other internal and external stakeholders and bring this together centrally as the basis for analysis and decision support.”

”While… there are increasing opportunities for automation, such as using machine learning and robotics… for these new capabilities to be effective, the accuracy, completeness and integration of data will become even more important than they are today.
— Christian Mnich, Global Solution Owner, Treasury Management, SAP