by Amit Sharma, Head of eCommerce and Channels Asia Pacific, Global Transaction Services, Bank of America Merrill Lynch
Treasury and technology go hand-in-hand. However, the relationship between treasury and technology is perhaps best defined by its diverse and transitional fundamentals; there is no one size fits all. In fact, for treasurers in Asia Pacific, technology comes in many different forms ranging from simple spreadsheets to highly-sophisticated treasury management systems.
In the past, treasurers in Asia Pacific who have tended to favour the spreadsheet as their primary technology application are now moving up the curve. Given that the role of the treasurer has become more strategic, dedicated solutions and new connectivity models are being embraced across the region. In our view, the reason is clear. Simply put, for treasurers planning to take their operations to the next level, these sophisticated solutions can provide greater efficiency, more accurate information and a lower risk of error than spreadsheet-based platforms.
Slowly but surely
From Australia to India, treasurers have long focused on increasing process efficiency and gaining greater visibility over their balances – but nowadays they are looking to access that information much more quickly. By requiring real-time information, treasurers are driving demand for solutions which can provide accurate information quickly and easily.