As security concerns and the need for additional resources continue to drive IT investment for treasury functions, a study conducted by SunGard and the Finance and Treasury Association in Australia (FTA) has identified that 48% of Australian and New Zealand treasury systems are now cloud-based.
The survey, undertaken in cooperation with the FTA, was conducted with 54 senior treasury professionals in Australia and New Zealand. Key findings from the survey include:
- 78% anticipate continued growth in treasury in the cloud
- 28% indicated technology-related issues were their greatest challenges. This was followed by improving cashflow forecasting (22%) and risk management (19%)
- For the treasurers relying on in-house (not hosted) systems, lack of internal IT resources was their greatest problem (54%)
- Of those with internal systems, 44% were considering moving to a cloud-based system and 78% recognized the value of managed upgrades and outsourced exception handling
“While the treasury technology landscape continues to evolve, treasurers’ fundamental priorities remain the same as ever; functionality and integration. Hosted, hosted and managed or software-as-a-service solutions can help meet and maintain compliance needs without having to upgrade and rebuild internal systems – a costly and time consuming process.”– John Filippis, vp Solution Architecture Asia Pacific, SunGard AvantGard
In order to meet the growing demands of the treasury technology landscape, Qantas Airways has migrated their treasury operation to SunGard’s private cloud hosting for reduced operational risk and costs, as revealed in SunGard’s latest case study.
In the case study, Anthony Impala, Manager Treasury Systems, Qantas Airways Limited, discusses his experience with SunGard, describing how the migration from SunGard’s Quantum solution to SunGard’s hosting environment allowed them to streamline their work processes by only having to work with one provider with expertise around the actual treasury solution as well as hosting solutions in general. This has in turn resulted in faster turnarounds, allowing Qantas to experience an increased level of support and trouble-shooting.