Over the past year, as the world was going through a major disruption, many companies had to re-assess their priorities and adapt to a new reality. Amidst high volatility and uncertainty, it became key for them to ensure sound digital processes were in place, fueled by home office working, magnified changes of consumer behaviors and a tougher macro-economic environment.
Treasury and Risk organizations were called upon to identify new sources of liquidity, provide key cash insights, and ensure financial risks were properly mitigated. This helped in turn their company to get better visibility into their liquidity situation, take fresh measures to fill cash gaps, and nimbly stir their course towards new priorities.
Treasury teams quickly shifted from a business-as-usual to a crisis management mindset. While a few companies were well prepared to respond quickly, helped by past investments in integrated treasury management systems, the crisis served as a wake-up call for others who had to accelerate their transformation towards better collaboration and more automated processes.
Today, as the wave of the crisis will hopefully start to retreat, treasury teams need to take a step back, and think about the initiatives they should prioritize on to further accelerate their transformation.
What tools should they adopt to increase collaboration, so they can drive a true end-to-end working capital management process, from managing open payables to collecting cash? How can they achieve real-time cash visibility, without having to manually search for the same information over again? How can they implement straight through processing with the right systems and networks in place? How can they better automate their order-to-cash process, leveraging new technologies like machine learning? Are there any changes required to their FX risk strategy, so they are better prepared for the next crisis ahead? How can they re-think their supply chain finance?
To give you insights on some of these questions, we have put together the Treasury and Risk Show as part of the SAP Finance and Risk Virtual Summit. We will present how SAP is innovating to support its customers through these challenging times.
Join us on March 2 to hear from SAP treasury and risk experts. They will present SAP’s strategy, portfolio of products and the latest innovations in these areas.