The report depicts how corporate treasurers have a unique opportunity to create value helping their firms compete in an increasingly 24/7, real-time world. Citi’s research shows that treasury is underfunded in technology and resources, yet powerful new technologies including Artificial Intelligence and Digital Assets are becoming available to revolutionize processes. Treasurers need to plan beyond incremental improvement and adopt novel ways of thinking to drive proactive strategies.

The report also uncovered that corporate treasury cannot unlock its full potential in isolation. As a function, it is dependent on numerous stakeholders and counterparties, both internal and external. To drive the radical yet fundamental changes needed, corporate treasurers must actively participate in broader partnership and collaboration to move the dial towards enabling real-time treasury. The payoff is treasury with an expanded remit equipping businesses to make better decisions to deliver growth and returns.

“High-performing treasuries ensure efficient funding of working capital, identify and mitigate financial risks, and deploy liquidity to fund the company,” said Stephen Randall, Global Head of Liquidity Management Services, Citi. “The future, however, holds so much more for high-performing treasuries. Through astute investments in technology, talent, and partner collaboration they can become key contributors to company growth themselves.”

With greater collaboration also comes innovation with the report envisaging that the technology stack available to treasuries will evolve, enabling more agile solutions that legacy systems currently hamper. Companies must invest in real-time solutions to stay competitive and support digital business models. Those that develop an “always-on” treasury ecosystem will lead and shape the future of the industry.

“Technology-based financial services have the potential to transform how treasurers automate, manage liquidity and risk, and glean insights to support business growth like never before,” Stephen Randall went on to say. “It’s time to boldly embrace the opportunity”.

The GPS report was developed alongside global financial performance consultancy Zanders and garners insights from clients and industry participants.