New York – Reval’s latest “Future-Proof Your Treasury” survey shows a year-over-year increase in the usage of treasury management systems by corporate treasury organizations, globally. Reval, the leading global provider of a scalable cloud platform for treasury and risk management (TRM), began its benchmarking survey in 2013 to gauge how corporations are improving their treasury organizations using technology.
According to the survey of 200 finance professionals across North America, EMEA and Asia Pacific, 59 percent of treasuries were working with specialist treasury systems in 2014, an increase of 15 percent from 2013. “Over the past 10 years we have seen a significant uptick in the number of companies moving to solutions specifically designed for the treasury function,” says Justin Brimfield, Reval Chief Marketing Officer and Executive Vice President of Corporate Strategy. “Companies want tools that will not only meet their needs today, but scale with them as they grow. They are looking to cloud-based TRM solutions to future-proof their treasury needs for tomorrow.”
The survey continues to show that more than 50% of treasuries are planning investments in new technology. Other survey results reveal:
- Ninety-one percent of respondents see technology as enabler for change in treasury.
- Key initiatives underway this year include improving cash flow forecasting (54%), optimizing payment management (38%) and enhancing risk management (35%).
- Automating treasury workflows (52%) and centralizing financial data (35%) are improvements technology should facilitate.