Digital Treasury–It takes two to tango - 2019 Global Corporate Treasury Benchmarking Survey

This year’s PwC Global Treasury Benchmarking Survey contains responses from 238 companies, collected between September 2018 and May 2019. The responses represent companies headquartered in 37 countries, across 21 industries, with operations in an average of 30 countries.

More so than in previous years, the data from our survey shows a true transition of the Treasury function into the role of a strategic advisor to the broader organisation, now focused on value-adding activities outside the traditional mandate like working capital management and M&A support.

Further to that, a significant number of respondents noted they are facing barriers in leveraging new and emerging technologies within their Treasury operations. Despite these challenges, the case for change is strong, with evidence demonstrating that digital and technological upskilling can create a more integrated and informed Treasury function. The benefits of seizing these opportunities are substantial, having clear positive impacts on the well-being of the Treasury workforce, as well as the function’s ability to meet the demands of their new corporate advisory role. With the pace of advancement only accelerating, failing to capitalise on these changes can leave treasurers at risk of falling behind.

Key findings

Tech-savvy Treasury teams are using digital tools to their advantage

Technologies such as artificial intelligence, robotic process automation, and data analytics are being leveraged to conduct critical tasks, make decisions, and reduce risk.

The scope of Treasury continues to expand

Eighty-five percent of respondents described Treasury as a “value-adding service centre”—much higher than in prior years.

Treasurers need to redefine existing roles and keep digitisation in mind when creating a workforce of the future

Strategic thinking (99%), business partnering (84%), and technological affinity (73%) were rated crucial skills for tomorrow’s treasurers and their workforce.

Teams are searching for new approaches to age-old Treasury problems

While Treasury’s mandate may be expanding, the #1 item on the agenda hasn’t changed in decades: cash flow forecasting. Currency risk also remains top of mind as the #3 item on the treasurer’s agenda.

Many still underestimate cyber risk

Awareness is growing, but just 28 percent cited cybersecurity as a “critical concern”. Treasury has a natural role in mounting defences against cyber-attacks and building recovery plans. These processes are increasingly being addressed with new technologies.