As security concerns and the need for additional resources continue to drive IT investment for treasury functions, a study conducted by SunGard and the Finance and Treasury Association in Australia (FTA) has identified that 48% of Australian and New Zealand treasury systems are now cloud-based.
The survey was conducted with 54 senior treasury professionals in Australia and New Zealand. Key findings from the survey include:
- Seventy-eight per cent anticipate continued growth in treasury in the cloud.
- Twenty-eight per cent indicated technology-related issues were their greatest challenges, followed by improving cash flow forecasting (22%) and risk management (19%).
- For treasurers relying on in-house (not hosted) systems, lack of internal IT resources was their greatest problem (54%).
- Of those with internal systems, 44% were considering moving to a cloud-based system and 78% recognised the value of managed upgrades and outsourced exception handling.
“While the treasury technology landscape continues to evolve, treasurers’ fundamental priorities remain the same as ever; functionality and integration,” said John Filippis, vice-president (VP) solution architecture Asia Pacific, SunGard AvantGard.
“Hosted, hosted and managed or software-as-a-service solutions [SaaS] can help meet and maintain compliance needs without having to upgrade and rebuild internal systems – a costly and time consuming process.”
SunGard has also released the latest of its case studies, describing how Qantas Airways has migrated the treasury operation to its private cloud hosting for reduced operational risk and costs.
The most interesting outcomes of PSD2 will be derived from companies combining open banking with data from other areas like social media or government, argued Miles Cheetham, Open Banking Ltd.
The US money market fund reforms came into effect in 2016 and are already dramatically shaping US fund industry with investors flooding out of prime funds and into government securities. While the reforms are similar, they are not the same. GTNews interviews Yeng Bulter, global head of the cash business at State Street Global Advisors on the differences.
There are various ways for financial institutions to benefit from advanced technologies and business models provided by FinTech's. Whether a business' approach is radical or incremental, data management can help a company to increase their return on investment, argues André Casterman, INTIX.
Tim de Knegt, strategic finance and treasury manager for the Port of Rotterdam, discusses how he is using blockchain, the challenges he will face in his role of treasury over the next 12 months and the advice he would give to someone starting out their career in treasury.