Head2Head: Using Technology to Keep One Step Ahead

by Bruce Meuli, Global Business Solutions executive, and Jonathon Traer-Clark, Head of Strategy, Global Transaction Services, Bank of America Merrill Lynch

JTC How to get the best from financial technology is an issue in which treasurers have been engaged since the first banking and treasury management systems were launched in the early 1990s. We all know that as business models have changed, so too has the role of treasury. To fulfil this role successfully, treasurers not only need to leverage new technologies but importantly, be one step ahead.

BM I completely agree – these days, corporate treasury operations are increasingly complex, and in a highly competitive marketplace, treasurers are constantly tasked with finding new ways to create strategic advantage and facilitate business growth.

JTC So the question is, with so many technology solutions to choose from, how does today’s treasurer make the right choice that positions their business for success?

BM There’s no easy answer. A common question I hear from corporate treasurers is: enterprise resource planning (ERP), treasury management system (TMS) or both? Our industry is full of acronyms but these are amongst the most common for treasury teams seeking to automate their processes. Ultimately an ERP is an integrated suite of applications that manages core business functions. For some ERP systems, this includes cash and treasury functionality.

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