In the News
The BOJ has cut key interest rates below zero to reinvigorate Japan’s economy where most options have been exhausted.
Treasury and Risk
Currency risk ranks as higher concern for finance executives, AFP survey shows.
Phil Pettinato, Chief Technology Officer at Reval, explains how the power of cloud-based treasury technology is enabling the growth of companies of all sizes.
Finance professionals in multinational corporations are working with a variety of different software applications, including ERP systems, bank portals, market data tools, trading platforms, risk applications and treasury systems. Working with all of these programs, companies often find themselves manually keying the same data more than once. This is not only burdensome and inefficient, but it is also a source of error.
As Treasury’s remit continues to grow, its challenges are increasingly multi-faceted. Finance teams have to juggle enterprise-wide risks, global regulations, operational tasks and strategic analysis at the same time, and do so with a limited staff and budget. It is this dilemma that we find treasurers struggling with in the Global Treasury Benchmarking Survey of more than 600 financial professionals undertaken by Reval, global provider of a scalable cloud platform for Treasury and Risk Management (TRM).
Corporates operating in today’s uncertain markets know they cannot afford to be encumbered by dated, ineffectual risk technologies. Those treasurers looking for new tools to help them manage risk are often confronted with a confusing array of options. But as industry experts interviewed in this article maintain, when it comes to navigating the treasury technology landscape, it helps if you have a clear idea of your risk management needs beforehand.
Most companies are not using automated systems to calculate their daily cash positions and forecast cash needs, according to a recent survey, and that status could leave them less able to manage their cash effectively when rates rise.
The movement to globalization has its pluses when it comes to growth and sales but can be a bit of a pitfall for companies that expand without having the needed technologies in place to track far-flung operations and fund flows. That’s especially true in the case of treasury management, where a recent survey by Reval found that across 150 financial professionals, manual processes abound and so too do inefficiencies.
Cash flow forecasting and real-time visibility are keys to corporate financial success. But new research from treasury service provider Reval finds that real-time financial visibility is hardly even in the line of sight for today’s corporate treasurers.