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Journeys to Treasury 2017: Spotlight on Compliance, Cybersecurity, and Data

Feature Article | October 4, 2017 by Uwe Erdtmann

BNP Paribas, the European Association of Corporate Treasurers (EACT), PwC, and SAP have launched the second edition of Journeys to Treasury, a collection of hands-on conversations about treasury today and tomorrow made with and for treasurers.

The 2017 edition of Journeys to Treasury aims to distinguish the trend from the trendy, and identify which changes are truly transformative and which are potentially disruptive. It builds on a series of surveys, one-on-one interviews, panel discussions and interactive sessions which took place throughout 2017, to identify the most pressing topics for corporate treasurers today, and ultimately present content that is both enlightening and useful. This edition presents strong corporate case studies that deliver a tangible illustration of how treasurers address those topics.

A Unique Partnership

The three themes covered in Journeys to Treasury 2017 are compliance and regulation, cybersecurity, and data analytics. In line with the philosophy of the report, all the topics are nurtured by collective insights from the bank, the industry association, the consultant and the software vendor. This unique partnership has been the trademark of Journeys to Treasury since its inception in 2016, and it has been decisive in its success.

Journeys to Treasury 2017 starts with a status update on the 2016 edition’s dominant issues – artificial intelligence, robotics, instant payments and fintechs – which remain potentially disruptive while no longer ranking at the top of treasurers’ agendas this year. As an illustration, one of Europe’s largest producers of electricity and heat shows how it optimized its working capital while reducing days sales outstanding for its suppliers by implementing a fintech platform for reverse factoring.

Journeys to Treasury 2017 then delves deep into three priority preoccupations for treasurers.

Data Analytics

On data analytics, the report finds that since treasury-related data are already centrally organized, it is smarter for treasurers to use data analytics for decision-making than reflect on big-D data. Journeys to Treasury 2017 also concludes that artificial intelligence based on data analytics is a performance booster, and shows how a global leader in the flavours industry turned to robotics and AI to provide the treasurer with a consolidated FX exposure in only 30 minutes.

Regulation and Compliance

In a second section, Journeys to Treasury also examines why regulation and compliance continue to dominate the treasurer’s agenda with a roadmap that seems endless. It addresses the challenges that treasurers face in assessing the impact of constantly changing rules, to which some recent geopolitical changes add their own layer of complexity. The section’s dedicated case study shows that treasurers can gain by working hand in hand with tax experts and by putting a strong focus on substance and transparency.

Cybersecurity and Fraud

Finally, in a third section, Journeys to Treasury 2017 put cybersecurity and fraud under the microscope, reminding us that while mobility generates threats, hackers’ imaginations are boundless and corporates mostly struggle to keep up. In a digital world and with fraudsters becoming more agile every day, treasurers have no choice but to be proactive. Yet who knows what moves hackers will make next? Even the best-designed cybersecurity policy is no silver bullet for total protection of corporate data. Social engineering fraud for example has severe consequences and requires pragmatic protection. After experiencing such a fraud, a leading agro-industrial group both adapted its internal culture and updated agreements with its financial partner.

Designed to provide guidance to corporate treasurers and financial decision-makers, Journeys to Treasury delivers collective expert insights into the corporate world. Its first edition won over the hearts of the corporate treasury community, with as many as 1,387 downloads by readers across the planet and 24,334 visits to the dedicated website within three months of launch.

Journeys to Treasury is available online at www.journeystotreasury.com.

Uwe Erdtmann is director of Global Product Marketing for Finance ta SAP

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