With house bank accounts treated as master data instead of configuration objects including the latest enhancement, the bank account subledger concept, SAP S/4HANA Bank Account Management (BAM) aims to shift responsibility of bank account management life cycle from the technical teams to the cash and banking teams.
The need to formulate a treasury technology roadmap for your organization has never been more critical. This is particularly relevant for large complex organizations that are running SAP. The SAP S/4HANA move is complex and presents great opportunities and challenges. For the treasury within these large complex organizations it does not make sense to wait for the enterprise to formulate a roadmap as then the likelihood of the treasury requirements not being properly prioritized are high.
In the past 20 years, all industries have felt the impact of technological innovation. In some cases, this impact has been so great that disruption has occurred. A clear and often used example is the travel industry, where companies that did not exist 20 years ago, like AirBnB and Booking.com, are now major players.
Recent technological advances increase the possibility of using qualitative data in risk models to ensure a timelier recognition of threats. News articles, which can be seen as a type of unstructured data, are flooding the world every day. However, one can imagine the time it would take to manually process all this information. Recent developments in natural language processing (NLP) show some very promising results in automating that task by a computer. We assess the possibilities of these recent advances within credit risk management.
Technology has been changing and developing quicker than ever before. This rise of emerging technologies is applied in increasingly familiar guises, such as artificial intelligence, blockchain and machine learning. However, these can only be successfully deployed when implemented by people who understand the power of technology and are open to change. Applying technology is all about the combination of competences and mindset. What does that mean for treasury technology? It is time to explore the more human aspects in successfully deploying treasury technology.