Insight & Analysis

Press release: Deloitte partners with KLK to empower treasury digital transformation

Published: Jun 2023

15th June 2023 – With the rapid advancement of technology and the growing digital landscape, organisations are faced with the need to embrace innovative strategies and technologies to stay ahead of the competition. Recognising these challenges, Deloitte, a global leader in professional services, empowers organisations to streamline operations and enhance customer experiences through the use of cutting-edge technologies.

The recent success story of Kuala Lumpur Kepong Berhad (KLK)’s treasury transformation stands as a testament to Deloitte’s strength in driving digital transformation. By leveraging Kyriba and Deloitte’s expertise, we empowered KLK to optimise cash management across bank accounts, automate manual treasury practices, and gain enhanced visibility into financial transactions. Deloitte enabled KLK to unlock the true potential of their treasury function across Asia and Europe, equipping them with the necessary tools for swift decision-making and improved negotiation capabilities with banks. Together, we celebrate this remarkable milestone, positioning KLK as a leader in the industry and showcasing Deloitte’s unwavering commitment to delivering exceptional results.

“KLK’s implementation of a new Treasury Management System (TMS) is in line with our digital transformation journey. This new TMS has allowed us to improve our operational efficiency, enhance risk management, support informed strategic decision making through valuable insights of financial data, and promote collaboration within the organisation. We are grateful to be able to tap on Deloitte’s expertise in this area to guide and assist us in accelerating our progress towards digitising selected functions and operations within the Group,” said Mr. Lee Jia Zhang, Chief Operating Officer, KLK.

“As digital transformation sweeps through industries, it’s crucial for organisations to modernise their treasury operations to stay ahead,” said Justin Ong, Executive Director at Deloitte Malaysia’s Business Advisory arm. “We’re thrilled to be engaged by KLK to enhance its treasury capabilities and empower better-informed decision-making.”

According to Deloitte’s Global Corporate Treasury 2022 survey, treasury executives face challenges and spend considerable time on global visibility into operations, cash, and risk exposures. Learning from pandemic experiences, there has been an increased adoption of cloud-based treasury management technologies. It is now important for organisations to assess their current treasury processes and evaluate available digital solutions. By implementing effective change management strategies, companies can achieve significant efficiency gains, improve risk management, and enhance decision-making capabilities in today’s dynamic business environment.

View more key insights from Deloitte’s 2022 Global Corporate Treasury survey.

All our content is free, just register below

As we move to a new and improved digital platform all users need to create a new account. This is very simple and should only take a moment.

Already have an account? Sign In

Already a member? Sign In

This website uses cookies and asks your personal data to enhance your browsing experience.