“Treasury Management Systems deployed in the cloud offer a host of benefits, including a wider and more dynamic view of financial positions, automatic access to the latest analytical tools and an ability to more easily collaborate with stakeholders, reducing the need for data collection and input by treasury,” comments Ole Matthiessen, Global Head of Cash Management, Deutsche Bank.

Reviewing the findings in the report “A Quantum Leap: Building a data-driven treasury”, he adds:  “It has taken some time for risk-averse treasurers to accept the security and robustness of cloud-based solutions, but we are now witnessing a change in mindset.”

Of the 300 senior corporate treasury executives surveyed for the report, 44% of respondents identified cloud computing as the most important technology for treasurers over the next five years, followed by big data analytics (42%) and AI (37%). By contrast, as in 2018 relatively few engage with robotic process automation (RPA), which was cited by only 9% of respondents.

Treasurers see the primary benefits to becoming more data-driven as higher operational efficiency (39%) and improved return on investments/assets (36%). Data intelligence can also help them navigate increasingly complex regulation, such as the IFRS 9 and the General Data Protection Regulation.

“Simply ‘owning’ data is not enough; digital transformation is required in order to extract, aggregate, and analyse good quality data,” says Matthiessen. “The journey towards an efficient data-driven treasury takes time and our survey can help treasurers to identify how far along they are and what steps they need to take next.”