by Helen Sanders, Editor
As TMI reported in March, 2015, cash management solutions provider Cashfac Technologies recently conducted a market survey, the Cashfac Operational Cash Index, with research company East & Partners Asia on corporate treasurers’ experience and confidence in their banks’ electronic banking systems. As the survey highlighted, only 35 percent of respondents had timely, accurate visibility over more than 55 percent of their cash. This article explores the findings in a little more detail.
Scope of research
The Cashfac Operational Cash Index included data from interviews with 364 chief financial officers and corporate treasurers from top-ranked corporates in Singapore, Hong Kong, Malaysia and Australia, with an average turnover of USD 1.43bn. There was some correlation between the turnover of the corporation and the number of bank accounts, with an average of 5.6 banking relationships amongst Hong Kong businesses, which had the highest turnover on average, while Malaysian businesses, with the lowest average turnover and typically a more domestic focus, maintained 3 bank relationships.