A year of disruption across Treasury

Digital transformation deriving from Banks is evolving treasury’s primary focus on transactions and reporting to reinforce its value with more strategic risk management and analytics. This development means treasury should leverage new automation technologies, open application programming interfaces (APIs) as well as cloud services to save on resources and add more value. TMS can drive the automation of treasury functions, straight-through processing and integration with other systems.

APIs will gradually be set as the technology means to link a treasury management system or ERP platform to the bank for STP (Straight Through Processing). According to the EIU Report 2018 the advantages APIs have for treasurers focus on the level of customisation available, the convenience of not having to use banking portals with proprietary applications and interfaces, as well as the ability to automate treasury tasks using systems that process transactions directly from their own treasury platforms to their partners. APIs will improve efficiency in existing systems and drive business growth by unlocking data trapped in core systems.

As core treasury activities such as cash and liquidity management, financial risk management, asset and liability management are being highly affected by multi-channel payments, Treasurers will now have to adapt their models to deal with changes in supply-chain product life cycles and real-time e-commerce. Advanced treasury technologies will help increase automation, visibility, and control.

It is becoming apparent that Treasury will need to invest in technologies driven by, for example, API connectivity, that would accelerate payments delivering better and faster processes. Analysing data and discovering patterns are becoming more and more a priority for the treasury department. Systems using predictive analytic algorithms and big data will be essential for liquidity forecasting based on sales data and historical trends. Such analytics can only be achieved if standardised and structured data is available and accessible through interfaces provided by the TMS and other data sources.

Profile’s extensive experience in the Banking industry can successfully support these evolving trends. Acumen^net has been designed to cater to the needs of the modern Treasurer and streamline organisations’ processes while providing the functionality to manage their operations competitively. Acumen^net, backed by FMS.next Suite, the company’s cloud-enabled, PSD2 ready, Digital Banking solution with more than 250 API calls, can effectively support Open Banking and payments across the platform.

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