In an in-depth four-part series from the Association for Financial Professionals (AFP) and Zanders, a leading global treasury, finance and risk consultancy, the big picture of digital transformation and all it entails for the treasury profession is examined.
The series, titled “The Digital Transformation of Treasury: A Critical Imperative,” is important — even critical — due to the times in which we live. Ours is a time distinguished by new business models, changing regulations, increased competition from the digital natives and an increasing focus on real time.
The coronavirus pandemic accelerated the digital timeline for treasury, and highlighted the need for a more agile, secure and scalable IT infrastructure. In the first article in the series, the current landscape is explored, looking at available technologies and answering the questions on the mind of every treasury professional: How is this relevant, and how will it benefit my organization?
Next, we delve into the adoption rates of some key transformational technologies, identify those that are becoming embedded within the digital-first ecosystem and the associated impact on treasury performance. The third article checks the reasons why treasury is dragging its feet, and while every organization is unique, identifies some common characteristics for the low adoption rates. Finally, we provide treasury with a comprehensive and practical roadmap for successful digital transformation.
Technology will have a profound impact on treasury. As this key component of the finance team automates, removes friction, and accelerates processes, the move toward predictive and prescriptive analytics will only elevate performance, enabling faster, better decisions and helping to mitigate current risks. In short, transformational technologies will redefine what’s possible.
Start reading now to discover the critical imperative of the digital transformation of treasury.