by Jiro Okochi, Reval CEO & Co-founder
This year opened with some impactful consolidation among TMS vendors, causing market observers to take notice once again of what technological change means and why it matters. Most are left wondering about which vendors are truly equipped to provide the kind of nimble, enabling technology needed for collaborating and innovating across the global enterprise, and which cannot or will not commit to treasury’s changing needs. Vendors that can’t convert to cloud-based SaaS technology or keep up with the increasingly sophisticated needs of treasury, will have a tough time remaining independent. Legacy technology, which cannot provide treasurers, CFOs and CIOs with a sustainable, intelligent, and collaborative infrastructure to support corporate performance objectives, will go the way of the dinosaurs.
While treasury has been steadily evolving, converging forces are now catapulting disruptive change upon this function’s status quo. There are several forces at play that are transforming treasury requirements and the technology necessary to address them. Chief among these forces are the effects of globalisation on the organisation, the burgeoning realisation that all things can and should be seen as risk, and the need for technology that leap-frogs over the limitations that old technology imposes.