15/03/2016 - Peter Schädelbauer, Head of Product Management, Hanse Orga Group

Reaping the Benefits of Technology Innovation

Today’s corporate treasurers are challenged to address increasingly complex and diverse business requirements. These include managing the organisation’s cash, its payable and receivable flows, and its supply chain finance operations proactively, accurately and cost effectively. Treasury is concerned with efficiently fulfilling a range of operational needs, and also with supporting financial oversight and decision taking at the executive level.

Current technological advances are offering new opportunities for treasurers to play a leading role in enabling and securing the profitable growth of their companies.  

Technology support is essential
Effective treasury operations require access to the relevant information in real time or near real time, in both consolidated, summary form for executive awareness and effective decision-taking purposes, and in readily accessible detail form in support of efficient day-to-day operations.  The deployment of contemporary technology is central to achieving best practice treasury management results – and the choice of the technology solution that most closely fits requirements is one of the most important decisions for treasury managers.  The right marriage of technology with business requirements liberates the treasury team from mechanical and essentially unproductive data management tasks, to focus on its professional finance management duties – and to fulfil them to best effect.  

Our recent article examines some of the ways in which recent treasury technology innovations are opening up new horizons and potentialities in treasury management, providing value-adding pathways to achieving higher levels of control, transparency and operational effectiveness, enhanced management reporting, and optimised decision taking.

What is the role of spreadsheets today? What are the benefits of mobile technologies and measuring KPIs? What is the value  of dashboards in payments management, and how can areas such as bank statement management, cash forecasting or bank fee analyis be enhanced with technology innovation?

Our conclusion:
As technical evolution continues, treasurers who are in tune with today’s realities are best positioned to take competitive advantage of the possibilities which are now in reach. If you would like to know the answers to the above questions, please download our free article Reaping the Benefits of Technology Innovation which was first published on gtnews.com.

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