A study conducted to determine the prime challenges that treasury professionals are facing in Singapore finds that approximately 61% of respondents have centralised treasury operations to obtain a global, enterprise-wide view of their liquidity. Additionally, 48% have introduced specialised treasury management systems (TMS) in an effort to improve cash and risk management and to support their expanding businesses. Foreign exchange (FX) management topped the list of challenges, with the need to minimize counterparty risk a close second.
In Singapore, many companies continue to manage cash and risk through manually-intensive, spreadsheet-based processes, a time-consuming and error-prone method, finds that study conducted by SunGard. For corporations that are looking to expand globally, treasury management technology can improve automation and risk management by providing an up-to date and enterprise-wide view of risk, claims the report. The company adds that a specialised treasury management system can also automate counterparty exposure management and provide sophisticated modeling and analysis tools to help treasurers manage debt, protect investments and drive growth.
“With business interactions becoming increasingly more complicated and time-sensitive, relying on data in spreadsheets is no longer sufficient for corporate treasurers in Singapore. Instead, treasurers need real-time access to information that can help them make better decisions on time-sensitive matters, such as foreign exchange. Leveraging treasury management technology to automate processes can help companies achieve a timely view of their risk and cash flow across regions, while also promoting integration and connectivity,” says Mike Fullmer, senior vice president for SunGard’s AvantGard business unit.
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