IGTA Journal - Winter 2020/2021

scalable IT tools. Many corporations are only starting organizations this necessary digital transformation. We all search for guidance, benchmark, IT solutions fitted for operating the future finance model. That is our major challenge, a sort of cliff to climb. But the good news is that there are solutions that can cover the full scope including treasury. They will enable to make eventually good use of data and create real BI reporting to give the company a competitive advantage on peers. Reshaping global treasury landscape The evolution of the global market and the new environment post-COVID may force to redefine future treasury working model. In the future workplace (i.e., post health crisis), we all need to further integrate functions and systems. Integration of different systems, although possible, remain hard stuff and complex. It explains why some large MNC’s contemplate a full reshaping of their IT solutions and ERP with the whole additional modules. We learn from this crisis that automation offers fantastic potential for driving what we named the “digital transformation”. All treasurers must achieve results. Among other, we can list cost savings, increased delivery speed, new operating models, and higher-value activities for the staff. The CFO’s should target automation to help better position the treasury function as sort of “custodian” for fully integrating the finance function with the core business(es). Of course, the machine performances will enable treasurers to achieve goals fixed by the C-level. But it could be done without the new required skills of the treasury staff and an advanced human and IT systems collaboration. Growing demand for emerging technologies Perhaps because of the crisis, there is a growing demand to adopt new emerging technologies. Treasurers also feel this pressure to opt to (more) digital. CFO’s see possible opportunity to redesigning their digital organization. There are also the increasing fraud cases, which push for more automation and internal controls, by leveraging new technologies, but also a new way of thinking and focusing on compliance as a approach to prevent more proactively frauds and cyber risks. Regulations, like BEPS and revised TP rules, may be a game changer, imposing CFO’s to rethink and revamp their strategies and contemplate a true digital transformation of the whole finance function. M&A transactions should increase over time and debt levels have never been so high. Managing liquidities is getting more complex and require more appropriate and modern tools fully integrated. Full integration means a single global solution and more radical approach. Treasury is one of the most critical functions of finance and it requires adequate IT strategies. Plugging new solutions on already complex and multiple IT architecture is certainly not the most efficient way. There are MNC’s which dared to completely revamp their structure around the core ERP and its integrated treasury modules, with success. IGTA eJournal | Winter 2020/21 | 32