Four Areas Where Technology Can Set Your People Free

We often hear about strategic treasury, but with many treasury professionals still consumed with mundane tasks, it’s time to consider how technology can free your team’s analytical skills to deliver intelligence senior management can act upon for strategic initiatives.

Below, I’ve listed just a few areas where embracing treasury technology can help you leverage the talent you already have in place:

Daily Cash Management: Automating processes and bank connectivity can free staff from time spent organizing statements and reviewing and entering bank data into spreadsheets.  Efficiencies can result in one to two hours of daily time savings.

Cash Forecasting: Consolidating forecast data enables staff to re-direct their focus on variance analysis and accuracy. Consolidation optimization can deliver three to four hours of time saving per forecasting run.

Journal Entries: Replacing manual journal entries with auto-tagging frees resources for other critical month-end tasks. Auto-tagging can shift time from performing the entries to reviewing the entries and deliver two to four hours of time savings per accounting run.

Treasury Reporting: Streamlining internal reporting requests allows teams to react quickly and intelligently, fostering confidence and communication with senior management. Technology offers the ability to more rapidly respond to reporting requests and can result in five to six hours of monthly time savings.

The right treasury technology can help you create efficiencies for your organization with monthly savings totaling over 40 hours. This empowers your existing staff to deliver valuable insight and identify strategic opportunities to the business.