Source:  Economist Intelligence Unit survey, July/August 2015

Copyright:  © The Economist Intelligence Unit, 2015

Will reduce reliance on traditional banks

Risk‐averse about partnering with FinTech

Biggest barrier to making effective use of technology in treasury departments is that the importance of technology is recognised, but not given enough priority

62 % 65 %

61%

Agree leadership teams increasingly consult corporate treasurers on strategic questions

Agree that treasury departments are well placed to advise senior management on the challenges arising from regulatory change

State that their company’s treasury function fully understands long‐term strategic goals

70 +%

Say their company’s board does not take sufficient interest in the corporate treasury function

67 %

Do not think their treasury departments are well integrated into the wider business

57 %

Key macro risks and risk management strategies 

1

Funding and investment strategies2

Technology as a treasury enabler4

The changing role of the treasurer5

FINANCIAL-SECTOR REGULATION

The impact of regulations on treasury operations

3

FINANCING THE FRAGILE ECONOMIC RECOVERYHow global corporate treasurers, CFOs and other finance executives

 are navigating new risks and opportunities for growth

Most serious macro risks to company's finances over the next three years are:

EMEA respondents particularly concerned about growth and currency risk:

Sluggish global economic growth

Currency risk

Regulatory risk

59 %

38 %

36 %

See sluggish global economic growth as a top macro risk

Feel they spend a lot or most of their time on managing currency risk 

In the Americas

VS

64%

52 % 33 %

Costs will stay roughly the same

Rising costs   

Falling costs  

CFOs are more willing to explore non‐traditional sources of finance than corporate treasurers:  Cash hoarding:

Credit costs over the next 2 years not expected to be a big problem:

CFOs Treasurers

Using new banking partners

Traditional banking partners

Supply chain finance Have no or not much excess cash

Have either fair or large amounts of excess cash

The vast majority say three important compliance developments are worth the costs of implementation: 

Dissatisfaction with indirect costs of financial‐sector regulations, such as: 

Respondents expect investment in treasury technology in the next 2 years:

Partnering with financial technology companies (FinTech):

Technology not given enough priority:

CFOs recognise the growing strategic role of the treasury:

However, corporate treasurers still see major obstacles:

39 %

27%

35 %

41%

21%

23%

45 %

29 %

26 %

80 %

20 %

67 %

29 %

4%

78 %

70 %

69 %

34%

47%

18 %

1%

New accounting standards 

The Payment Services Directive (PSD)

The European Market Infrastructure Regulation (EMIR)

The Dodd Frank Act

Basel III

Solvency II

Anti‐money laundering (AML) laws

Legislation on base erosion and profit shifting (BEPS) 

Heavy investment (unprecedented high levels)   

Moderate investments (levels they would consider normal/average)   

No or little investment  

Don't know

Fairly high to very high amount of time

Finance executives spend a lot of time on regulatory change:

Appropriate amount of time 

Fairly low or very low amount of time