More than 30,000 corporate treasurers participated in the Euromoney Cash Management Survey 2024, with 27% of them identifying digitisation and automation as key priorities for their day-to-day operations. These priorities highlight the need for digital investments amidst pressure on headcount within treasury functions.
“Corporate treasurers require additional resources to invest in the people, technology and data required to drive transformational projects,” says Bob Stark, global head of market strategy at Kyriba. “This additional investment should meet the heightened responsibilities that corporate treasurers continue to be tasked with, such as evolving from offering only visibility to delivering actionable recommendations.”
Considering this, corporate treasurers should focus on three key areas: skills; budget management; and technology outsourcing. Understanding these trends is crucial for third-party providers and banks to ensure they respond effectively to the ever-evolving needs of corporate treasurers.
Equipping treasurers for complexity
The need for additional resources must be evaluated based on factors such as company size, treasury complexity and the potential for technology to create efficiencies. “The availability of skills is another critical factor,” says Mislina Bayazit, senior treasury consultant at Zanders.
Victoria Blake, chief product officer at GTreasury, highlights the challenges posed by increasing business complexity.
