The findings show that access to funding, risk management and improving usability are top of mind for treasurers today. Looking three years ahead, these challenges are expected to diversify to include demand for real-time capabilities and liquidity optimization, meaning new business models, which will drive a greater focus on open platforms for banks to deliver enhanced services at scale.
Today’s top three key priorities for corporate treasurers are:
84% Improve access to funding
57% Predict and manage risk
53% Improve usability and staff productivity
By 2022, treasurers expect their priorities to change and diversify:
59% Get real-time data and payments
54% Improve access to funding
52% Predict and manage risk
47% of corporate treasurers see opportunities for banks to improve their product offerings to provide more innovative solutions – beyond traditional services. This presents opportunities for banks to partner with ecosystem players and deliver value-added services.
The new IDC Infobrief, Treasury Ecosystems- Opening Today for Tomorrow, reinforces this fundamental change to transactional business and operating models. Most notably, they expect that the increasing impact of intelligence, automation and the ecosystem will result in the emerging role of the Platform Player. Organisations that take this route will re-engineer their business models, becoming end-to-end service providers to the customer. The combination of cloud, hyper-automation and data analytics will allow banks to use their data, operations, license and technology to deliver Business Process as a Service propositions. Other models include Product Providers, focused on incremental improvement of services, and Relationship Banks which will re-invent customer relationships and act as a trusted advisor.
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