In today’s challenging economic and geopolitical environment, companies need cash. They need cash to invest in new companies, cash to innovate and cash to accelerate growth.
Bob Stark's blog
Bob Stark, vice president of strategy
Bob has 18 years’ experience in treasury technology, working for many of the best known technology providers in the industry. As VP of Strategy at Kyriba, Bob is responsible for global product strategy and market development, and works with clients, partners, and industry influencers to ensure Kyriba is at the forefront of treasury technology. Bob has provided treasury management strategy to some of the world’s largest companies, and is a frequent speaker and author on treasury, risk management, and the cloud. If it’s worth knowing about in the treasury, you can assume he knows it.
In the final month of 2018, as news of market volatility, losses from fraud, and pressure for accelerated profits from shareholders continues to challenge treasury professionals, it is tempting to look forward at what treasury trends and innovations we can expect to improve outcomes in 2019. The demand for digital transformation is driving new strategic opportunities and tactical challenges for treasury. While there are many possibilities to consider, I predict the following for 2019:
According to a recent WEX Worldwide survey commented on by Treasury Today – 52 percent of organizations admit to being victims of payments fraud. Many times treasury is directly affected, because their payments were compromised, while other times, the treasurer is pulled into the conversation to fix whatever vulnerability was exploited for someone else’s payment.
Making payments is generally an expensive process for large organizations, in terms of both time and money. The process tends to be particularly expensive when an organization has its own in-house bank connectivity for connecting its payment systems to its bank – connectivity that is maintained either by its own internal IT function or by an external consultancy.
According to the Association of Financial Professionals (AFP), this year’s national conference was the largest AFP event in its 15 years, attracting more than 6,200 attendees to the fine city of Chicago. In addition to the record attendance, a wealth of new ideas and best practices were shared, arming practitioners with new treasury perspectives to employ the moment they return to the office.
Natural disasters are unpredictable and costly. When hurricanes strike, the damage can be devastating, especially if you are not prepared.