August - 2016 - Special issue > CXO Insights
Technology's Role in Corporate Risk Management
T.M. Manjunath, Director - Technical Services, IBSFintech
'How can I do more with less?' is today's Treasurer's key concern. With treasury evolving into a more strategic role, this concern becomes more and more relevant. Let us understand the current state of technology adoption in corporate and then dive deeper into how technology can facilitate today's treasurer to do more with less!
Current State of Technology Adoption in Corporate
Today, most large companies' technology landscape includes an Enterprise solution (from large vendors), some legacy applications, and a host of excel/home-grown utilities. To make situations complex, most of these systems are standalone, or at least incapable of communicating with each other seamlessly.
While in medium sized organizations, treasurers even today, are dependent on archaic systems such as spreadsheets for treasury management. Though it has been proven repeatedly that spreadsheet solutions are not capable of managing the pressure of treasury management. And this is simply because spreadsheet management requires treasurers to first feed in data from multiple sources, and then render this data useful for analysis. This manual process is not only time-intensive but also ineffective, as by the time this data is rendered useful it is too late and inaccurate for any decision making.
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