The treasury committee is often the cornerstone of any business because disciplines within finance have many stakeholders and affect a variety of other functions. Today, a treasurer is increasingly expected to be a communicator across an organisation. Doesn’t that fact alone highlight the need for a treasury committee?
A collaborative and consultative approach is vital when it comes to the implementation of any treasury management system. A combination of in-house consulting from a systems provider and the use of qualified, certified and competent external implementation partners can make a real difference in ensuring maximum added value from your TMS.
Next generation treasury functions will work in real-time, with highly integrated, automated systems. Treasury teams will leverage intelligent tools; data will power forward-looking decision-making; and manual legwork will give way to strategic thinking. But how can treasurers deploy innovations associated with the Fourth Industrial Revolution, also known as Industry 4.0, to work towards this vision of Treasury 4.0?
By now, most treasurers will have heard of SWIFT gpi – the solution that is speeding up cross-border payments and delivering track and trace capabilities. But not all treasurers have grasped the game-changing potential, or that it isn’t just for treasury functions that are SWIFT-enabled.