Thursday, 17 June 2021 | By Pascale Hertzog, Treasury Management Director at Login SA. member of the Profile Group
Automation and Libor discontinuation remain hot topics in the banking sector, with many treasury professionals eager to automate more tasks ranging from financial planning, reporting, and strategy. CFOs continue to focus on financial analysis and forecasting with paperless office operations. Meanwhile, accounting, a key function in treasury, must provide reliable and unified data using a single source, whilst experiencing high levels of automation.
In need for intuitive treasury management systems
As stated by M&T Bank, treasurers are demanding a superior experience. Technology is fundamental to achieve this goal. When selecting a cash management system it needs to deliver an intuitive design so as to make it easy to navigate.
Furthermore, reporting is also important and needs to be available on an ad-hoc basis, automated or on schedule to deliver a real-time view of the activity and performance.
With an increase in volume and processing operations (e.g., due to discontinuation of Libor), the need for full straight-through processing (STP) and automation in data management has become mandatory. Treasury platforms need to offer much more in terms of user experience (UX) so as to elevate competitiveness in business operations.
Elements to consider when searching for your next Treasury Management Platform:
- Easy navigation
- Streamlined dataflow
- Ease of integration and APIs
- Reporting
- Dashboard layout
- Cloud adoption
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