Technology

Treasury is at a crossroads, as technology moves from being a supporting tool to a driving force, reshaping the function itself.

It is often said that technology is merely an enabler and that it should not be a goal in its own right, and yet investment decisions are still being made that say that life will be much better if we have a treasury management system or a cash forecasting solution. Experienced treasurers will have seen from experience that starting a project with these goals does not generally lead to a successful outcome.

Should we ignore the technology transformation that we are currently witnessing? From Generative AI to blockchain solutions, from stablecoins and real-time payments to digitised trade documents, the list is endless and growing.

And it’s easy to conclude that the landscape is too complex and confusing to engage with, or that there are too many pilots being undertaken, so it’s best to wait and see what is left when the dust settles.

However, it can be argued that what we are now experiencing is a truly transformational change in what technology can offer. It’s no longer just about how to automate key processes or to provide access to real-time information, nor is it about more colourful dashboards and insightful management information.

If you were unconstrained by legacy systems and organisational structures, what could the role of the treasurer function and the treasurer be? What you have now is the opportunity to redefine the role of the treasury function. Should it continue to be a discrete function separate from other support functions? Could there be treasury specialists embedded across the wider organisation? What skills do treasurers of the future need, and how is the current workforce upskilled?

Fintechs and traditional technology providers are already re-envisioning different roles that treasury can perform. But treasurers also need to be part of this conversation.

The ACT Middle East Treasury Summit is a key opportunity to hear from peers and industry specialists, where fintechs will be on hand to share their latest offerings. Hear how others are harnessing new technology and existing technology solutions, and use these insights to discuss your ideas with members of your community.