56% of treasury professionals in Asia say that optimising existing payment processes is their top priority, according to a poll conducted by TMS specialists Reval.
The research also found that only 9% of treasuries have fully automated payment workflows and straight-through processing to multiple banks, whilst 26% are still handling payments manually using spreadsheets. This approach has been described as “burdensome,” “inefficient” and “error-prone,” by Tony Singleton, Reval’s Managing Director for Asia Pacific.
Referring to the poll results, Singleton added: “As Asia has a diverse financial sector with dynamic emerging markets, handling payments is far more complex than in Europe or the Americas.”
The poll was conducted as part of Reval’s webinar, “Keeping Pace with the Evolution of Treasury Payments.”
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