Trust is the key to every good relationship and the same goes for corporate treasurers.
A recent report by Boston Consulting Group (BCG) and BNP Paribas explained how the role of a treasurer is increasing in complexity due to growing market uncertainty and more multifaceted operations. There is a lot at stake, and treasurers are still expected to deliver with stability, dependability and specialist expertise.
Relieve the pressure with digital self-service
In order to relieve some pressure on the shoulders of treasurers, they request greater digital self-service and hands on access to specialist advisors. The transaction providers must facilitate ‘zero-interaction’ processes, explained the report.
Banks need to be looking out
What the corporate treasurers are cherishing in a relationship is trust, reliability and credibility. Traditionally banks have been the sole trusted advisor for corporate treasurers. Today, the needs has evolved and also the openness to work with other, more technologically driven providers.
Winning the trust battle
In order to win the trust battle actors must deliver three fold. Firstly, provide low and no-touch digital services to enhance productivity of routine treasury functions. Secondly, adopt a more integrated service model to deliver specialist advice and insights. Thirdly, data, which is a critical enabler for both the first and second. Enable data to simplify and enrich crucial process steps, explained the report.