The overwhelming majority of treasury professionals are highly educated. Some have certified treasury professional certifications, others have master’s degrees, and some have a combination of both. However, without an enterprise-class treasury management system (TMS), most of their day is spent on manual, time consuming, non-strategic tasks (data mining, updating spreadsheets, bank portal entitlement management, bank account management, bank fee analysis, and payment processing, etc.).
While a majority of corporate treasuries still depend on spreadsheets to run their treasury related operations, more and more organizations are adopting treasury management systems (TMS). Implementing a TMS can improve the effectiveness of your treasury function, allowing treasurers to standardize processes, centralize key functions, create a straight-through processing environment, and provide a single source of truth for all financial data.
As one experienced CFO to another, I think we can probably agree that there is an urgent need for progressive finance strategy. Companies are operating in a global business environment of growing complexity. Things have dramatically changed on the outside. In response, there needs to be more innovation from the inside to create growth while continuing to balance opportunity and risk with sound judgement and right timing.