The treasury function is in a flux. Challenged from one angle by digitalization and technological developments and by new compliance, tax and regulatory initiatives on another. At the same time, the treasurers must handle their firm’s on-going business model.
A recent report by The Economist Intelligence Unit and Deutsche Bank revealed treasurers’ expectations on technological developments and view on how disruptive forces will impact their firms’ traditional role, structure and staffing.
A bit more than half of the respondents experiences that disruption of operational models in the sector have cascaded to knock on the treasurer’s door.
The strongest experienced disruptive influences are found in multi-channel payments, mobile-based solutions and variations in the supply chain product life cycles, according to the report.
However, the treasurers are confident towards their ability to cope with the changing climate. The vast majority of respondents do not express concern and believe they have the necessary skills to comply with the hurdles caused by technological transformation.
Michael Spiegel, Deutsche Bank’s head of cash management commented on the report to The Global Treasurer:
“There’s definitely still a need for investment in developing the next-generation treasury. And while confidence is positive, it needs to be founded on a comprehensive understanding of the ongoing technological changes in the market.”