Morgan Payments Explores the Impact of Technology on Treasurers and Their Partners
In today’s fast-paced business world, technology plays a major role in enhancing the capabilities of treasurers and their partners. When utilized effectively, technology has the power to revolutionize a treasurer’s ability to carry out their core responsibilities and increase their value to the organization.
According to Priyanka Rath, Head of Global Liquidity and Account Solutions Specialists at J.P. Morgan Payments, advanced technology and data play a crucial role in facilitating informed decision-making, leading to better forecasting and improved control. By automating cash movements and providing enhanced visibility, technology helps treasurers streamline their operations. The use of data and analytics also enables accurate forecasting, reducing the need for excess cash buffers. This improved visibility can empower treasurers to make strategic business decisions based on transactional flows and cash requirements. In fact, the integration of machine learning and AI-driven tools offers treasury teams actionable insights, further enhancing their decision-making abilities.
Rath believes that technology not only improves efficiency but also helps alleviate operational risks associated with outdated manual processes. As the technological landscape is ever-evolving, treasurers remain vigilant in evaluating the latest trends to keep their operations up to date.
To address the unique needs of each company, J.P. Morgan Payments works closely with organizations to curate customized solutions. Real-time payments and increased visibility are of utmost importance, as the shift towards instantaneous payments gains momentum. With the implementation of real-time payments, forecasting accuracy improves, cash buffers decrease, and cash position visibility becomes more reliable.
In the realm of real-time treasury, APIs play a crucial role in enabling reporting, visibility, and automation. As the landscape continues to evolve, APIs will become essential for making amendments to liquidity structures.
Virtual solutions also offer significant benefits, including cost savings and improved reporting capabilities. J.P. Morgan Payments has developed a virtual solutions product suite that is built on proprietary technology, ensuring seamless integration with physical accounts and eliminating any lags in cash positioning or timing mismatches.
The relationship between treasurers and Chief Technology Officers (CTOs) is vital for successful digital transformations, with collaboration being key. J.P. Morgan is committed to investing in cutting-edge technologies such as AI, embedded banking, and cybersecurity. By aligning goals and objectives with treasurers and CTOs, J.P. Morgan ensures that the company’s long-term success is achieved in partnership with its clients.
Analyst comment
Positive news: The impact of technology on treasurers and their partners is explored in this article. Advanced technology and data are found to enhance decision-making, forecasting, and operational efficiency. J.P. Morgan Payments offers customized solutions, real-time payments, and virtual solutions to address the unique needs of companies. Collaboration between treasurers and CTOs is emphasized, with J.P. Morgan investing in cutting-edge technologies. Overall, the market is expected to see increased efficiency, reduced risks, and improved decision-making as technology continues to evolve.
