Trends and challenges in treasury technology

Treasury and Cash Management Technology Survey

Trends and challenges in treasury technology

The key findings of the first annual Treasury and Cash Management Technology Survey, by Zanders and Citi Treasury and Trade Solutions, highlight some of the trends in the deployment of enterprise resource planning (ERP) systems and treasury management systems (TMSs) and the challenges as perceived by the corporate treasury practitioners who use the systems.

The targeted questions asked how treasury professionals and other corporate decision-makers use technology and what their main concerns and expectations are with regards to systems and bank connectivity.

The survey confirmed that SAP is the most widely used system for both ERP and TMS amongst respondents. It also found that many respondents are considering rationalising or migrating from their current ERP system and that more consolidation is expected in the TMS vendor space. TMS challenges were also touched upon, including the lack of functionality and problems in fully integrating with ERP systems. Several questions focused on the various modules of the most popular TMS system and the main activities for which each module is used.

Other topics explored include the growing move towards Cloud-based ERP systems and TMSs, the use of SWIFT channels for receiving statements and the preferred formats for statement delivery. Of note was an increase in companies using automated bank statement processing, although several challenges in bank statement delivery and integration were highlighted in the survey, primarily the lack of end-to-end automation and inefficient processes.

The survey also touches on the continuing drive for standardisation in terms of bank connectivity and formats for payments processes, with the majority of respondents now using XML payment formats. Some of the concerns with payment processing technology were also highlighted, with almost seven out of 10 respondents saying that security and fraud risk was their main concern.

Overall, the survey gives some insights into trends in the treasury technology space, as well as highlighting some of the concerns in terms of efficiency, security and integration. The results provide useful, granular detail on this complex topic, which is of great importance to corporates in the context of supporting and investing in centralisation initiatives to drive efficiency and standardisation across the treasury organisation.

Please find here the Citi and Zanders 2016 Treasury and Cash Management Technology Survey.

Zanders and Citi survey