Treasury Strategy & Transformation
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An Inside View on European Treasuries

An Inside View on European Treasuries

by Robert Crowe, Senior Solution Consultant, Reval

Robert CroweBeing a treasurer is challenging today. Treasury’s importance and remit are constantly increasing, but staff and budget are limited. The EACT Treasury Benchmarking Survey, conducted by its technology sponsor Reval and TMI, shows how European treasurers resolve this dilemma.

Ninety-two per cent of finance professionals responding to the EACT Treasury Benchmarking Survey this summer consider treasury a key contributor to business success today, and most of them see the function’s importance increasing within the next three years. European treasury departments are addressing an increasing number of regulatory challenges such as EMIR, SEPA or IFRS 13 and their scope is growing into new areas such as commodities, supply chain financing or insurance. However, there is a gap between what European treasurers want to do and what executive managers are willing to sponsor.

Although the treasury department is seen as a vital function to the organisation, only 24% see their staff numbers increasing within the next three years. As this is the case, treasurers will need to make technology investments in order to continue to do more with less. Technology can help treasury in many ways. Automating operational tasks not only takes the tedious daily routines from the treasurer’s to-do list, but it also increases efficiency and control. Treasury´s highly qualified staff can and should contribute more than keying bank account balances and market data into various spreadsheets, faxing deal confirmations to bank and trading partners or copying payment information from one system to another. However, workflow automation is not the only way to increase operational efficiency.