Businesses have devoted more resources than ever to managing strategic, operational, financial and other traditional risks. But digitization has brought on new kinds of risk, such as cyber threats, digitally enabled fraud and artificial intelligence (AI) ethics. Successfully managing these and other emerging risks may be your biggest success factor as the digital age advances.
Read Treasury Megatrends: Reassigning Risk to Digital to learn how you can take advantage.
WHAT’S DRIVING THIS TREND?
Many treasury processes are becoming rapidly standardized and automated, as seen in the success of Robotic Process Automation (RPA). But the change goes deeper than simply replacing low-complexity manual activity. “Smart systems” enabled by better business rules can now gather huge amounts of data and use AI to analyze them.
This shift to AI—while extremely promising—can also introduce new risks. As process execution moves toward automation and real-time delivery, your risk and control mechanisms must also evolve.
ABOUT OUR TREASURY MEGATRENDS SERIES
Tech innovation is transforming treasury. That’s why our Global Transaction Services Advisory team created Treasury Megatrends, a new series of articles to help make your treasury more intelligent.
ABOUT THE ADVISORY TEAM
Our Global Transaction Services (GTS) Advisory team consists of former corporate treasurers and practitioners, combining decades of treasury experience. With 10 members located across the globe, we offer advisory services to our most valued clients to help them meet their strategic goals.
GTS Advisory insights can include subjects such as working capital optimization, M&A, operating models, risk management, capital strategy and innovation. Support is often hands-on and onsite, and our advisors frequently help clients build strategic treasury roadmaps, inform capital or hedging strategies, or prepare change management business cases. We deploy the team as necessary to help address short-term challenges, as well as to realize long-term treasury objectives.