Many discussions around treasury technology focus on the leading-edge developments made by a handful of highly sophisticated treasury functions. Meanwhile, the majority of treasury departments are struggling just to achieve the basics. Could co-creation between banks and corporates offer a simpler path to embracing digital treasury innovation?
Visibility and control remain key for treasurers looking to produce an accurate, timely cash flow forecast. Yet a large number of treasurers – even in centralised organisations – still lack the ability to do this. In fact, for many, even collating a complete list of bank accounts can be a challenge.
Hurdles include a lack of visibility over the company’s payment and collection ecosystem and data which is often fragmented, not to mention inaccurate and out-of-date. And in instances where treasurers are lucky enough to have access to this data, many lack the analytics to use it effectively.