As a wave of new technologies like blockchain and robotic process automation begin to play a role in business and commerce, a recent report suggests treasury and finance executives may not be prepared to help their companies make the most of the opportunities presented by the new technologies.
A survey of 279 treasury and finance professionals conducted by the Association for Financial Professionals (AFP) found that 36 percent think their company is “not prepared” or only “minimally prepared” for the new technologies. Just 11 percent of those surveyed described their organization as “very prepared” or “fully prepared.”
Nancy Atkinson, principal and founder of GTB Consulting, said she wasn't surprised by the results. “Generally speaking, I don't think treasury has a strong focus on technology and on new technologies,” Atkinson said. “They look on that as something needs to mature a bit more and eventually they'll look at it.” Treasury professionals may also rely on their banks to inform them about new technology, she said.
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Susan Kelly
Susan Kelly is a business journalist who has written for Treasury & Risk, FierceCFO, Global Finance, Financial Week, Bridge News and The Bond Buyer.
