Atlanta, GA, Sept. 13, 2023 (GLOBE NEWSWIRE) -- Strategic Treasurer and TIS have released the results of the 2023 Treasury Technology Survey. Results show significant adoption plans for multiple technology types, differing somewhat based on organizational region and size.
This survey’s questions probed treasury and finance professionals on their current and planned technology use, their priorities for vendors and solutions, and their interest in various innovations. Details were gathered about practitioners’ views on AI/ML use, technology categories and hosting models, connectivity and format changes, product development, payment innovations, and more.
Among the top findings were the following points:
1. Tech Use Rising Rapidly in Several Categories. TMS vendors can expect >25% growth off the current customer base and 100% growth among small-medium companies. Treasury aggregators could see >70% growth off their current customer base, although this expectation is moderated in Europe, where aggregator use is already much higher. Payment factory use is expected to double in the small-medium segment.
2. Companies Are Interested in AI/ML for Forecasting, Fraud Prevention, and More. Forecasting was the top area of interest, followed closely by fraud prevention. European companies indicated significantly higher interest in use of AI/ML for fraud than North American companies, and larger companies were far more likely to view AI/ML as currently important compared to smaller organizations.
3. Interest Rate Risk the Top Asset Class Exposure – Except in Europe. Overall, 63% of respondents listed interest rate risk as a significant asset class exposure, while 52% put foreign exchange (FX) on that list. In Europe, however, FX topped the list at 83%, while interest rate risk sat at just 33%.
The 2023 Treasury Technology Survey asked over 50 questions and had over 200 respondents. More extensive results from the survey are available via a downloadable report and a webinar replay featuring Craig Jeffery of Strategic Treasurer and Jon Paquette from TIS.
About Strategic Treasurer
Strategic Treasurer was founded in 2004 by Craig Jeffery, a financial expert and trusted advisor to executive treasury teams since the early 1990s. Partners and associates of Strategic Treasurer span the US, the UK, and continental Europe. This team of experienced senior treasury advisors are widely recognized and respected leaders throughout the industry. Known for their expertise in treasury technology, risk management, and working capital as well as other cash management and banking operations, they efficiently identify issues, creatively explore ideas and options, and provide effective solutions and implementations for their valued clients. For more information, visit strategictreasurer.com.
About TIS
TIS helps CFOs, Treasurers, and Finance teams transform their global cash flow, liquidity, and payment functions. By streamlining connectivity between our customers’ back-office systems and their worldwide banks, vendors, and business partners, TIS enables users to achieve superior performance in key areas surrounding cash forecasting, working capital, outbound payments, financial messaging, fraud prevention, payment compliance, and more. With over 11,000 banking options, $80 billion in daily cash managed, and $2.5 trillion in annual transaction volume, TIS has a proven track record of combining our unparalleled market expertise with tailored client and community feedback to drive digital transformation for companies of all sizes and industries. Learn more at www.tispayments.com.
###
