• October 22, 2021
Enterprises Want Automation for Treasury But May Need to Address More Fundamental Issues, Says Report

The Treasury functions of large enterprises have digital and automation aspirations, but many will need to address more fundamental problems before they can take advantage of newer technologies that would make their operations more efficient, according to a new report.

Citi’s Balancing Digital Aspirations while Addressing Risk Management Fundamentals found nearly 60 percent of Citi’s Treasury and Finance clients report they are looking at “transformative opportunities” in their systems. For many, the report said, that means “future-proofing” treasury through intelligent automation.

The report noted 74 percent of organizations polled are not in a position to fully take advantage of digital opportunities. Forty-two percent, however, are of sufficient treasury maturity to consider process automation.

“New digital technologies and the evolution of financial services has prompted corporate treasury to rethink its future,” said Flavio Figueiredo, global head of Citi’s Rates and Currencies Corporate Sales and Solutions. “Harvesting and utilizing data as a means to optimize and meet company risk management objectives is now a top priority amongst many of our clients.”