The treasury department has long since evolved from its origins as an isolated back-room function to being acknowledged as a respected partner in the business, but Bank of America recognises that the time has now come for a move to a new level.
The strength of on-time data is its ability to help treasurers rapidly identify changes in patterns, which ultimately enables a business to respond quickly to market events, new client payment behaviours, and supply chain challenges. Technology has a key role to play, and automation, from front to back office, is vital if the organisation is to reap the full benefits of transition.
In this series of articles, senior experts from the bank give indepth explanations of the structure and benefits of what they have termed the treasury-as-a-business (TaaB) model and its relationship with on-time treasury, in itself a development of real-time treasury.
Introducing Treasury as a Business (TaaB)
Bank of America’s Venkat ES and Aziz Parvez explain how adoption of the TaaB model will see treasury department's become an influential business unit in their own right.
The Power of On-Time Treasury
Three experts from Bank of America consider an intriguing alternative to 24/7/365 operations – the notion of ‘on-time’ treasury. This leverages critical elements of a real-time approach but can offer a lighter touch solution, which can also empower a treasury-as-a-business model.