Widespread automation of operational treasury processes through the deployment of new tools and techniques is now generally expected. Companies with the appetite and capacity to go beyond the basics are best placed to take advantage. Treasurers, long curious about the potential of digitization, are now investigating, evaluating and experimenting with new technologies.
Machine learning-enabled technologies, built on high quality aggregated datasets, offer the promise of greater automation, augmented decision-making and prescriptive analytics. As an example, this may resolve the age-old corporate treasury challenge of improving the effectiveness and efficiency of forecasting. To this end, several Citi clients are participating in collaborative experiments to leverage emerging digital tools that aggregate fractured datasets more effectively, recognize patterns to adjust liquidity predictions, and simulate next-best actions based on policies and risk appetite.
Source: Citi Treasury Leadership Client Forum, November 2019
Against this backdrop, treasurers should partner across their enterprise and collaborate with banks, technology providers, and fintechs. Collaboration is a priority if treasury is to stay abreast of emerging technologies, identify digitization opportunities, and secure the financial and human capital to realize the opportunity.