The vast majority of large corporations in North America and the U.K. employ treasury management systems, but many use older versions of those systems, according to recent surveys by Reval, which provides software-as-a-service treasury and risk management solutions. And Reval argues that companies that aren't using the latest version of their treasury management system face compliance risk.

Reval surveyed 95 of the companies included in the London Stock Exchange's FTSE 150 index, and found almost three-quarters—74%—use automated treasury management systems, while 26% do not. In North America, Reval's survey of 200 large companies found an even higher portion—close to 80%—have automated treasury management systems.

As corporate treasuries deal with the fallout from the eurozone's debt crisis, Reval argues that treasury technology is a key component in handling those risks. Especially for big companies like the ones Reval surveyed, “the amount of risk that is entering their equation is at the highest levels we've ever seen,” says Jason Torgler, vice president of strategy at Reval, citing liquidity risk, companies' access to capital and credit, and financial risks related to interest rates, foreign exchange and commodities.