Taking the Pulse of the Corporate Treasurer

By Kyriba May 7, 2013

We recently launched the 2013 Treasury Technology Survey in conjunction with the UK’s Association of Corporate Treasurers. The survey was conducted of more than 250 primarily UK-based corporate treasury professionals, and sought to get a deeper insight into how they work, what technology they use, how productive they are and, most importantly, how much they feel like a valued, strategic member of the business.

The survey produced some interesting data. Here are a few snippets.

  • Despite the availability of sophisticated treasury software solutions, spreadsheets are still widely used by treasury teams, even among the largest companies. For companies with less than £500 million in revenues, close to half of all treasury teams continue to rely on spreadsheets. In addition, 11 percent of £10+ billion revenue companies still manage their treasury function on spreadsheets. Unsurprisingly, given the high rates of spreadsheet use, 48 percent of survey respondents would like access to better tools and technology to help them perform their role.
  • Treasury team members who use a dedicated solution for cash and treasury management spend an average of 339.3 hours per year on operational tasks such as bank reporting. This rises to 430.6 hours for those who use ERP systems, and 469.8 hours for those using spreadsheets. Based on a 40-hour work week, spreadsheet users spend an extra three entire weeks per year, simply managing daily cash positions.
  • As companies grow larger, cash management becomes less of a focus issue for treasury, and risk management and compliance become increasingly more prominent. In fact, although cash management is a daily issue for 78 per cent of respondents overall, this number falls to 57 per cent for respondents who work for companies with £10+ billion in revenues. Among these largest companies, the most common activity is risk management, which is a daily task for 68 per cent of respondents.
  • Most treasury team members view their role as primarily focused on operational tasks, not higher level strategy. However, this is changing. Almost 50 per cent of survey respondents feel that their role is becoming more strategic, and only seven per cent see themselves becoming less strategic. This upward trend looks like it will continue, as nearly half of respondents want to take a more strategic role in the coming year.

If you’d like to see a full version of the report, you can download a full version on Kyriba’s main web site. If you’re more of a visual person, you may be interested in looking at the infographic that we developed for the results. 

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