Treasury 4.0 going beyond just technology
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Next generation treasury will of course be increasingly real-time, integrated and automated. Intelligent tools use the data to do projections, support decision making, automate tasks, reduce risks and save costs. The aim is to free treasurers from mundane tasks and allow them to focus more on strategic planning thus adding greater value to the business.
More concretely, AI is already beginning to be used for cash-flow forecasting and will be able to handle many more dimensions and variables (e.g. in a multinational with international currency management needs) resulting in more robust forecasts and better use of resources. Some smart treasury solutions are even beginning to move towards “auto investment” where surplus cash is invested or multiple accounts balanced in an intelligent way, optimizing the use of liquidity. Even if not fully automated, better support for decisions of the human treasurers is surely welcome.
Finally, the modern trend of open banking and APIs increasingly allows third parties with smart solutions to be integrated into a treasury dashboard. Thus treasurers attain access to the creativity of the market and are not just bound by their single TMS solution provider. Cloud-ERP is becoming the new reality for larger internationally operating companies. B2B Fintechs allow further deep insights into data, better connectivity to more data sources and networks, help automate workflow, help manage FX better, support cash-flow analysis, liquidity planning and more. The advantages of B2B Fintechs may be particularly important to SMEs – a huge section of all countries’ economies – who do not have an ERP or TMS but would still welcome modern tools and new facilities such as alternate sources of funding.
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