Enhancing Enterprise Treasury Management with AI Technology

Adopting artificial intelligence (AI) for managing enterprise treasury operations allows businesses to transition from manual spreadsheets to automated data pipelines. This shift is essential for corporate finance departments facing challenges like market volatility, regulatory requirements, and digital finance needs.

Recently, Ashish Kumar, the head of Infosys Oracle Sales for North America, and CM Grover, the CEO of IBS FinTech, discussed the current landscape of corporate treasuries. IBS FinTech, with 19 years of experience, is globally recognized as a top-five player in the industry.

Grover highlighted the prevalent use of manual spreadsheets in treasury departments despite the availability of AI-powered automation in other areas of corporate operations. He emphasized the importance of digitizing and automating critical treasury management processes traditionally handled on Excel.

Treasury teams play a crucial role in managing cash, liquidity, and risk, including foreign currency and commodity risks. Companies with cash surplus must strategically invest in operations to generate returns.

One of the primary challenges faced by enterprises is the lack of real-time data connectivity. Manual processes involving platforms like Bloomberg and Reuters lead to data entry errors and delays in executing trades and accounting entries.

Successfully implementing AI in enterprise treasury management

Implementing AI in finance operations requires addressing manual bottlenecks. While many business leaders see AI as a quick fix, the technology’s effectiveness hinges on having a digitized and automated data foundation.

Grover emphasized the necessity of creating a digitized and automated data set as the basis for successful AI implementation in treasury management. Integrating treasury management systems with enterprise resource planning platforms, such as Oracle Cloud, NetSuite, and Fusion, establishes this foundation.

Building a connected ecosystem involves seamless communication between the treasury management system, trading platforms, banks, and enterprise resource planning systems. This integration provides executives with accurate information to manage liquidity, mitigate risks, and ensure compliance.

In a volatile global economic landscape, automation and real-time information systems are vital for effective decision-making. Kumar emphasized the importance of modernizing treasury management with AI to enhance financial resilience and streamline operations.

For successful AI integration, companies must audit their existing data workflows and ensure seamless data flows between trading and enterprise resource planning platforms. Direct integrations facilitate real-time data transmission, laying the groundwork for future technology deployments.

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