Manual processes are risky and time-consuming – and they make it difficult to give your CFO timely, high-quality information. Find out why you should automate processes with the cloud.
5 REASONS TO AUTOMATE YOUR TREASURY PROCESSES
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LET’S SOLVE YOUR ROI FROM THE CLOUD
By taking full advantage of digital technology and the cloud, you can automate manual processes, mitigate risk and gain a clearer view over your cash balances.
Gaining a clear overview of your company’s liquidity is essential, whatever the size of your company – but in practice, manual processes can make this difficult to achieve.
By adopting a digital solution that provides a clear view of your cash balances across different legal entities, bank accounts and geographies, you can gain full visibility over your liquidity position – putting you in a better position to manage the company’s cash efficiently and effectively.
OPTIMIZE LIQUIDITY
From FX and interest rate risk to the growing cybersecurity threat, the pandemic continues to exacerbate different types of risk exposure.
By automating your risk management processes, you can gain an accurate real-time view of your exposures – enabling you to make better decisions, avoid unnecessary hedging costs and streamline hedge accounting. What’s more, automated processes can protect your treasury from the risk of cyberattacks and fraud.
GAIN CONTROL OVER RISKS
Many organizations struggle with legacy payment technology that may be old, costly, difficult to maintain, and challenging to keep secure and compliant.
Through modern, cloud-based payment platforms, you can centralize payment connectivity, maintain immediate visibility into payment activity and ensure adherence to payment workflows. As a result, you can save time, reduce costs and improve your payment controls.
CENTRALIZE AND AUTOMATE PAYMENTS
In a high-risk environment, you need to be able to deliver information and insights to the CFO in a simple and digestible manner. But sourcing the necessary data can be difficult if you’re reliant on time-consuming manual processes.
Advanced technologies like robotics, artificial intelligence (AI) and APIs allow you to gain real-time insights, take advantage of predictive cash forecasting models and provide executives with the information they need to make critical business decisions.
HARNESS ADVANCED TECHNOLOGY
Being able to access technology securely from home is an essential requirement for treasury teams as remote working continues.
With a robust cloud-based system, treasury staff can carry out their day-to-day activities from anywhere in the world. What’s more, upgrades and enhancements can be carried out automatically without any disruption to the team’s activities.
OPERATE REMOTELY
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FX risk management
Automate the approvals process
Reduce fraud risk
Only 31% of treasurers can perform most treasury activities remotely
31%
Get in touch
Thomas Jerolitsch, vice president, Product Management, Enterprise Treasury and Payments, FIS
Preserving liquidity is a top priority in challenging market conditions, but without digital solutions, companies may struggle to achieve an overview of their cash balances.
65%
interest rate risk management
65%
Cybersecurity risk
64%
FX risk management
interest rate risk management
65%
Source: Crisis as a Catalyst for Change, FIS 2020 Corporate Liquidity Market Report
Streamline costs
Automate the approvals process
Reduce fraud risk
Steve Wiley, vice president, Treasury Solutions, Treasury SaaS, FIS
Today’s digital solutions make it easier than ever for treasurers to adopt robotics, AI and APIs for real-time insights.
While 11% can do less than a quarter of tasks offsite
11%
Source: Crisis as a Catalyst for Change, FIS 2020 Corporate Liquidity Market Report
Risk challenges facing treasurers:
Risk challenges facing treasurers: