Tech will keep working for treasurers
Technology will keep working hard for treasurers in 2020. Expect emerging technologies to continue to create new efficiencies and provide improved insights, helping businesses better anticipate and respond to risks.
The digitisation of trade flows is an area where tech has led to a seismic shift in the way businesses operate. Treasurers are already seeing the benefits of this with developments such as single-window initiatives.
In 2020, treasury departments will benefit greatly from an improved understanding of the impact of emerging technologies across industry, particularly the creation of increasingly efficient working capital and liquidity management tools.
The New Year is upon us. The year 2020 looms as a landmark one for the global economy as trade, technological and environmental factors drive change at a scale rarely seen.
At ANZ Institutional, we aim to help our customers put themselves in the best possible position to take advantage of these forces. Our subject-matter experts have the insight to offer market-leading thought leadership in a range of complex areas from across more than 30 global markets.
We asked our experts about the key factors they see shaping markets and industry in 2020 – and the opportunities and challenges within. We’ll be sharing the responses with you over the coming weeks.
Although automation is helping businesses stay ahead of the changing local regulatory and compliance landscape, ensuring they stay compliant with key regulatory and legal changes will be an ongoing challenge for treasurers in 2020.
This will be an important point of consideration in the decision-making process as businesses explore new markets and tackle the growing costs associated with compliance.
Local and expert knowledge will be critical in addressing these issues –which is why people and partners will be another critical theme for treasurers in 2020.
A 2018 survey by the International Chamber of Commerce revealed 63 per cent of respondents were concerned about the reduction in pool of senior technical specialists and the impact this will have on trade growth.
As well as indicating the need for finding staff with the right skills, it presents a separate opportunity for businesses to find and retain the right partner/s.
Ongoing tough geopolitical conditions will likely continue in the New Year. Expect this to be closely monitored by treasurers – including the effect of US elections in the second half of 2020.
Treasurers who operate cross-border will be focussed on ensuring credit profiles are appropriate for such economic conditions, complemented by increased regulatory compliance.
Businesses will also be keenly interested in preparing for changing benchmark rates and a possible negative interest rate environment.
Mark Evans is Managing Director, Transaction Banking at ANZ Institutional
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