IGTA Journal - Winter 2020/2021

and treasurers to deliver (more) value. No longer do finance functions and treasurers just report numbers posteriori . Treasurers are like CFO’s required today to play a much bigger role in strategic and operational decision-making within the company. These expanding expectations come mainly from all stakeholders (i.e. audit committees, financial investors, Private Equities, Stock-Exchanges and regulators – at domestic and international levels). They all demand greater accuracy, more consistency, faster speed of delivery and crystal transparency from reporting. We can add that speed is maybe the main element to faster react and decide. Accuracy in two weeks looks like accounting management. Treasury needs immediate information to properly and in time decide, especially in crisis time. By implementing innovative technology and leveraging analytics, the whole finance function (but treasury in particular) can gain a better understanding of the financial situation and consequently enhance reporting to all stakeholders. The trick for treasurers is to sell the idea of leveraging potential of technology and analytics and to help CFO’s meet growing and new challenges. It may require a full revamping of the treasury IT tools and to consider a “big bang” with a more integrated solution to circumvent issues of interfacing and complexity of extracting data from a multitude of best-of-breed solutions. There are specialists to help contemplating such revamping, like INTENSUM. Treasurers should consider a review of the IT roadmap, with specialists. Does the Treasury function fit for the future? Isn’t it a legitimate question to address? We saw treasurers on-boarding additional activities and trying to play an increasing strategic role. However, to play this role, they need the ad hoc IT infrastructure, often alas uncomplete. The recent health crisis, as every financial crisis, reminded all the importance of an efficient treasury management. Is the corporate treasury organization evolving fast enough to keep up and face coming challenges? We believe IT innovation can support the finance and more precisely the treasury functions. Treasury departments are steadily growing in significance. They must respond to the increasing pace of disruptive changes. And they come from different sources and horizons. Disruption may come in the form of global political uncertainty, geopolitical tensions, greater protectionism, unexpected currency movements and increasing volatility, potentially emerging crypto-currencies, new methods of payments, rising corporate debt and negative interest rates, tax and TP reforms, market consolidation and new ways of conducting business enabled by technology. The list of sources of disruption is infinite. But at the same time, CFO’s feel pressure from shareholders and regulators to increase transparency (more and more disclosures) and improve financial performance (including way to assess and measure it). Riskier new economic environment The new environment is challenging and riskier. It is now vital to adopt defined targets for the “modern” treasury, to roll-out forward-looking governance structures and to implement IGTA eJournal | Winter 2020/21 | 31