GTreasury: 2021 Treasury Technology Survey Report Releases, Highlighting Key Finance and Treasury Tech Trends
- GTreasury and Strategic Treasurer have collaborated on the release of the 2021 Treasury Technology Survey Report, which surveyed 250+ treasury and finance professionals with 50+ questions on how treasury tech trends and their own progress achieving digital transformation.
- Survey takeaway #1: Significant technology adoption growth is anticipated. Payment factories, treasury aggregators, and digital treasury management systems are expected to realize 35-45% growth over the next two years.
- Survey takeaway #2: APIs are becoming must-have capabilities. 73% of corporate treasury groups indicated that APIs are critical to their current processes. Machine learning capabilities are also drawing outsized focus from treasurers further along in their modernization initiatives.
- Survey takeaway #3: The gap between cash forecasting importance and reality is still high. While cash forecasting is very important to 84% of treasurers, only 38% indicate they are performing at a high rate of accuracy.
- Survey takeaway #4: Fraud prevention gains a heightened focus. Thwarting fraud is a top focus for 77% when considering the application of new technology in product development. Treasurers also report high demand for incorporating automation into fraud prevention processes.
- Survey takeaway #5: Resistance to formats remains. Comparing legacy formats to newer and more enriched formats like XML, treasurers showed surprisingly high levels of resistance to adoption.
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