HONG KONG--()--With the possible collapse of the Eurozone causing companies globally to prepare for the impact of another financial crisis, only 11 percent of Asian corporate treasuries polled in a recent study said that their organizations are very effective, reports Reval, the leading global provider of a comprehensive and integrated Software-as-a-Service (SaaS) solution for enterprise Treasury and Risk Management (TRM).
The study, “The Effective Treasury,” was conducted by CFO Innovations in association with Reval. It surveyed nearly 200 CFOs, financial directors and treasurers from companies across various industries in Singapore, Hong Kong, Malaysia and China.
“With more than half of Asian companies reporting that their treasuries are adequate, we have to wonder: Is adequate good enough to continue operating in an increasingly volatile and complex business environment?” asks Tony Singleton, Reval Managing Director, APAC.
The study explores the processes and structures that respondents feel make the management of their organizations effective and very effective. Among these are the use of automated treasury management systems, significantly less reliance on spreadsheets, and practice of hedge accounting. With sixty-eight percent of respondents saying they plan to improve their internal processes, forty-five percent rate Web-based SaaS systems as the most important technology to consider when they next review how treasury technology can support effective treasury management.
According to the study, the most significant obstacle to effective treasury management is the tendency to view treasury as an operational rather than strategic function. “This sentiment is consistent across the globe, and represents a major driver for companies everywhere to improve their processes with a technology solution that enables strategic decision making across the enterprise,” notes Singleton. “This requires a flexible, easy-to-deploy solution that provides a deep and broad view of the financial picture and helps companies mitigate risk and meet evolving regulatory requirements in a timely fashion.”
For more information about the findings in this study, please visit www.Reval.com or contact Emer Byrne at emer.byrne@reval.com for further information regarding Reval’s Treasury and Risk Management solution.
About Reval
Reval is a global provider of an all-in-one Software-as-a-Service solution for enterprise Treasury and Risk Management (TRM). Its award-winning SaaS delivers deep and broad visibility into cash, liquidity and risk for finance, treasury and accounting groups, worldwide. With Reval’s integrated, straight-through processing workflow of front-to-back office functions, companies can optimize operational efficiency, security, control and compliance across the enterprise. Reval’s unique combination of deep domain expertise and comprehensive functionality provides companies with the means to compete confidently in a complex and dynamic market environment. Founded in 1999, Reval is headquartered in New York with regional centers across North America, EMEA and Asia Pacific. For more information, please visit www.reval.com.
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