Heavy is the head responsible for treasury functions. And whether they’re banks or corporates, treasurers and CFOs are weary from juggling precarious new variables. They need solutions.
Help is coming — or rather, it’s here already— in the form of advanced cloud-based systems and the APIs that are connecting mobile apps to bank accounts, credit lines and cool features.
The Corporate Cash Management Playbook, a PYMNTS report done in collaboration with Red Hat, Finacle and Intel, examines demand for digital cash management solutions, noting that liquidity is the common enemy of large and small businesses alike in the economy.
Per the Playbook, “corporate leaders consider the pandemic and related uncertainty their top challenge, according to recent research, followed closely by overall economic uncertainty. Seventy-nine percent of executives cited the former factor, and 73 percent cited the latter — and, tellingly, treasury executives, those most actively involved in overseeing the movement of funds, were even more likely to cite these factors.”
It’s the same story on Main Street USA, with more than 75 percent of small brick-and-mortar operations in the U.S. experiencing cash flow shortages in 2020.
Technology is the way forward now, as safety, accuracy, speed and scale are becoming essential components in the payments value chain. Removing barriers to transformation in the treasury function is now taking center stage in the…