t cht lk
AUSTRALIAN TREASURY AND FINANCE TEAMS TURN TO LOW-CODE PLATFORMS TO REINVIGORATE THEIR FORTUNES
Christian Lucarelli , Vice President Asia Pacific , Nintex , says automation was already a key trend coming into 2023 but its adoption and use is accelerating .
Rising global inflation , interest rate increases and economic uncertainty have brought finance – and specifically treasury – functions into sharper focus . All eyes are now trained on the levers available to these teams to operate efficiently , reduce risk and navigate these tricky market conditions .
Some clear trends in this space are emerging .
Teams want to have more refined control over these levers . They also increasingly want backend processes to be as automated as possible , and for that automation to be simple enough for teams to specify , design and switch on .
Automation was already a technology of interest to treasury and finance teams , but this has increased in recent times , according to Deloitte . It is now seen as an enabler to address key challenges facing treasuries , including ‘ liquidity management , financial risk , Business Continuity and operating model priorities .’
In another study by PwC , process automation is positioned as a key tool to ‘ drive Digital Transformations and demonstrate the value of treasury technology investments in supporting a broad range of activities ’ covering ‘ payments , collections and reconciliation .’
The same PwC study notes outline three corporate visions for treasury : ‘ To be able to perform daily treasury functions on autopilot ’, to have a ‘ connected ecosystem supporting real-time financial decision making ’ and to have a ‘ set of complementary niche solutions ’ including process automation . Realistically , all three require a focus on automation in order to succeed .
With the need and desire for automation clearly evident , the real question is how treasury and finance departments are going about building out these capabilities .
What ’ s becoming evident is that in the current volatile environment , treasurers with the flexibility to quickly
www . intelligentcio . com INTELLIGENTCIO APAC 75