The use of technologies such as artificial intelligence (AI),robotic process automation (RPA), advanced analytics, and machinelearning is transforming treasury management. For example, whenapplied to cash management processes, these technologies can help aretailer better understand how a weather event might impact futuresales so that it can adjust accordingly. Or when these technologiesare applied to liquidity issues, they can help treasury findpatterns in historical and transaction data, then synthesize thatinformation to determine where and how to make improvements.

In combination, these technologies are revamping all kinds ofprocesses that used to be painstakingly manual and error-prone,enabling treasury staff to focus on areas that require greaterinterpretation or judgment. In fact, Accenture research has foundthat 80 percent of the activities of the typicalcorporate finance team can be automated using these tools. Suchautomation facilitates improvements in compliance and control,productivity, and cost.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.