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.