SIBOS Toronto Canada 2017

Does the technology exist to truly enable the digital treasurer?

Internet of things, VR, AI, biometrics and BIG data – buzzwords we hear too often. Over the last ten years there been some dramatic changes in the use of technology, most notably in the consumer space. Very few areas remain untouched by the trend of digitization. As Steve Jobs would say, “there’s an app for that” and if there isn’t, then there are some very clever developers out there capable of building one quickly enough.

As consumers, we are slaves to technology. From home entertainment and grocery shopping to booking trains, hotels and flights. We’re ever more reliant on our smartphones and tablets to organize our lives. Yet, while we may change our smartphones every year to keep up with the trend, the technology we use at work is updated less frequently.

This seeming detachment between our experience with tech at work and home suggests that development of technology in the corporate space has not kept up with the pace of change. Speed, security and efficiency are some of the most important factors that have brought around change in the consumer space. But, aren’t these the same factors organizations look to achieve in day to day operations?

Without a shadow of a doubt there are some major roadblocks facing corporates in both the development and deployment of new technology, and this is clearly visible in the role of treasury and finance.

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