Corporate treasuries are going digital with bank solutions

This is the third of our four-part series on modernizing treasury departments. In the first installment we discussed how to automate basic treasury functions and in the second we looked into the true cost of manual treasury processes and outdated data.


Modernization is at the top of the list for many corporate treasury departments. This journey involves significant transformation, a crucial aspect of which is partnering with forward-thinking banks. According to a recent Strategic Treasurer report titled “The Latest in Treasury Perspectives,” a substantial 49% of treasurers are looking to their banking partners to prepare for disruptions in treasury management. This statistic reflects the industry’s recognition of the evolving landscape and emphasizes the importance of cultivating strategic partnerships with financial institutions that share a vision for innovation and resilience.  

The path towards the digital transformation of corporate treasuries 

The traditional treasury role, once primarily centered on cash management and risk mitigation, is evolving rapidly. Treasurers now navigate the crossroads of strategic decision-making and technology adoption to keep pace with shifting markets, regulations, and customer demands. 

Treasurers’ expectations from banks

Corporate treasurers increasingly raise their expectations as they turn to banking partners for innovative solutions that streamline operations and provide real-time visibility. This transformative shift extends beyond a transactional relationship; it signifies a transition from banks being mere service providers to evolving into strategic allies. A recent CGI survey reveals that over 40% of respondents prioritize automated payment remittance and receivables tracking, emphasizing the significance of these features.

Meeting these expectations requires banks to enhance their user experiences, offering greater clarity on these essential treasury tools. Treasurers now demand more than traditional banking services. They seek sophisticated technology, integrated solutions, and advisory services strategically aligned with their financial goals and organizational strategies. 

Banking solutions leading the way

Forward-thinking banks are rising to the challenge by offering a spectrum of digital solutions designed to empower corporate treasuries. These solutions cover cash management, liquidity management, payment processing, risk mitigation, and more, providing a holistic approach that simplifies daily operations while enhancing strategic capabilities. 

Streamlining cash management

Modern banking solutions enable treasurers to automate cash positioning and forecasting, gaining real-time insights into cash flow. This ensures optimal liquidity management, mitigating the risk of over-leveraging or hoarding excess cash. 

Effortless payments

Traditionally a manual, time-consuming task, payment processing undergoes transformation through digital solutions offered by banks. These streamline payment workflows, minimizing the need for manual intervention, accelerating processing, reducing errors, and ensuring accurate and efficient financial transactions. 

Proactive risk mitigation

Treasurers are turning to banking partners for tools that provide proactive risk mitigation. Banks offer solutions to protect against currency fluctuations, market volatility, and other financial risks by leveraging real-time data and predictive analytics. 

Reporting for informed decision-making

Effective treasury management relies on accurate and timely reporting, and banking solutions play a pivotal role by integrating data from various sources and automating reporting. This ensures treasurers have the financial insights necessary for informed decision-making and regulatory compliance. 

The digital transformation of corporate treasuries has already begun. Treasurers, no longer confined to legacy processes and manual tasks, are embracing technology to achieve efficiency, accuracy, and strategic expertise. The partnership between treasuries and their banking partners lays the foundation for this transformation. As corporate treasuries go digital with the support of their bank partners, the future appears brighter than ever. 

If you are a bank and would like to learn more about some of the solutions OpenText provides to improve treasury services for your clients, contact us!   

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