What’s Happening in Treasury Today?
During this ETE 2023 webinar on treasury management, Elire’s Carlos Conde and Craig Jeffery from Strategic Treasurer discuss insights regarding the strategic evolution of treasury departments in modern businesses. With the increasing complexity of financial markets and regulatory requirements, treasury professionals are now playing a more crucial role in optimizing liquidity, managing risks, and driving value for organizations. Technology solutions such as treasury management systems (TMS) are becoming essential tools for treasury teams to streamline processes and enhance decision-making capabilities.
Dive into the impact of automation on treasury operations and the workforce. By automating routine tasks such as cash positioning, payments, and reconciliations, treasury departments can free up valuable human capital to focus on more strategic initiatives. This shift towards automation not only improves efficiency and accuracy but also enables treasury professionals to provide deeper insights and analysis to support organizational goals.
Carlos and Craig also discuss cash forecasting and how it has emerged as another critical topic treasurers should be aware of, emphasizing the importance of accurate forecasting in optimizing cash flow and working capital management. Effective cash forecasting enables businesses to anticipate liquidity needs, identify potential funding gaps, and make informed investment decisions. Treasury teams are leveraging advanced analytics and forecasting models within TMS to enhance visibility into cash flows and mitigate financial risks effectively.
Discover the growing significance of open banking and Application Programming Interfaces (APIs) in treasury management. Open banking initiatives and APIs are transforming how financial data is accessed, shared, and utilized by businesses. Integrating TMS with banks and other financial institutions through APIs allows for real-time data exchange, improved connectivity, and enhanced security, enabling treasury professionals to make faster and more informed financial decisions. Adopting open banking practices and leveraging APIs effectively can help organizations stay ahead in an increasingly digital and interconnected financial landscape.
For more information on Elire’s treasury capabilities, reach out to [email protected]!
