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What are the most effective ways to ensure treasury efficiency?

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Treasury efficiency is the ability of a company to optimize its cash flow, liquidity, risk management, and financial planning. It is a vital aspect of banking and financial services, as it helps to reduce costs, improve profitability, and enhance customer satisfaction. In this article, we will explore some of the most effective ways to ensure treasury efficiency, based on best practices and industry standards.

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1 Automate processes

One of the key ways to ensure treasury efficiency is to automate repetitive and manual tasks, such as data entry, reconciliation, reporting, and forecasting. Automation can save time, reduce errors, and increase accuracy, as well as free up staff for more strategic and value-added activities. Automation can be achieved through various tools and technologies, such as treasury management systems (TMS), enterprise resource planning (ERP) systems, application programming interfaces (APIs), and robotic process automation (RPA).

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Jennifer Li

Business Specialist at Jian Business Solutions
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My personal thought is that the key to treasury efficiency is budgeting ahead for any possible events, then monitoring them and estimating their scale. Also, we should always have a backup plan for mitigating costs during events.

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2 Integrate systems

Another way to ensure treasury efficiency is to integrate different systems and platforms, such as TMS, ERP, banking, and payment systems. Integration can enable seamless data exchange, real-time visibility, and centralized control, as well as eliminate silos and duplication. Integration can also facilitate faster and smoother transactions, such as payments, collections, and transfers, as well as improve compliance and security. Integration can be achieved through various methods, such as APIs, cloud-based solutions, and blockchain technology.

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Jennifer Li

Business Specialist at Jian Business Solutions
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I agree that integrating systems can save most of the time spent manually inserting financial data, but having accurate data is key to identifying trends, analyzing performance, and forecasting future outcomes. Therefore, those who attempt to automate data should consider investing in tools and technologies that can implement automated data validation processes. Utilizing software solutions that can detect and correct errors will greatly improve the reliability of financial information for treasury-efficient operations.

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3 Optimize cash management

A third way to ensure treasury efficiency is to optimize cash management, which involves managing the inflows and outflows of cash, as well as the balances and positions of cash across different accounts, currencies, and locations. Cash management can help to improve liquidity, reduce borrowing costs, and maximize returns, as well as mitigate currency and interest rate risks. Cash management can be optimized through various techniques, such as cash pooling, netting, hedging, and investing.

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4 Align with business strategy

A fourth way to ensure treasury efficiency is to align the treasury function with the overall business strategy and objectives of the company. This can help to ensure that the treasury activities and decisions support the growth, profitability, and sustainability of the company, as well as align with the expectations and needs of the stakeholders, such as shareholders, customers, suppliers, and regulators. Alignment can be achieved through various measures, such as setting clear goals and KPIs, communicating regularly and effectively, and collaborating cross-functionally.

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5 Leverage data and analytics

A fifth way to ensure treasury efficiency is to leverage data and analytics, which can provide valuable insights and intelligence for the treasury function. Data and analytics can help to enhance decision making, forecasting, and planning, as well as identify opportunities and risks, and measure performance and impact. Data and analytics can be leveraged through various tools and technologies, such as dashboards, reports, artificial intelligence (AI), and machine learning (ML).

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Birendra Sahu, FRM, CISI

Principal Business Analyst, Product, Platform and Technology
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we have seen usage of IT for decades now and most of the treasury divisions in organizations have more or less matured in adopting automation. Because of IT systems, treasuries have accumulated huge data over a period of time e.g. a huge amount of outflow used to happen towards the end of the year because of tax payments. Time has come to identify such connection between various data points by usage of technology such as artificial intelligence, machine learning and other analytic tools, and find the right kind of opportunities. This helps optimize the resources (cash) and maximize revenue.

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6 Adopt best practices

A sixth way to ensure treasury efficiency is to adopt best practices and standards, which can help to ensure quality, consistency, and compliance in the treasury function. Best practices and standards can be derived from various sources, such as industry benchmarks, professional associations, regulatory bodies, and external consultants. Best practices and standards can cover various aspects, such as policies and procedures, governance and controls, risk management and mitigation, and continuous improvement and innovation.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Jon Thoma

CONSULTANT
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These are all important functions by the CFO to assure the success of a company. However These processes in the future will be totally determined by AI which will result in higher efficiencies and fewer employees needed to manage this process. AI is the next Industrial Revolution.

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What are the most effective ways to ensure treasury efficiency?

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1 Automate processes

2 Integrate systems

3 Optimize cash management

4 Align with business strategy

5 Leverage data and analytics

6 Adopt best practices

7 Here’s what else to consider

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