By following the daily routine of a treasurer, it is possible to illustrate how they can use these new technologies:
The day begins with the collection of data through RPA (bank communication, interfaces with other systems, automatic reconciliations, activation of APIs, etc.). Data Analytics transforms, validates, and aggregates all this data and presents it by making recommendations (such as the cash needs of each business unit). Artificial Intelligence identifies any anomalies (fraud, delays, errors) and validates the relevance of cash forecasts over a long period.
The day continues, and digital technology continues its work: real-time updates of data and exchanges with other internal or external systems (RPA), analysis, and proposals of hedging strategies (AI) presented for discussion and approval to the responsible/validating parties (Data Analytics). Payments/receipts are made instantly (Blockchain), deals are stored and accessible to everyone (the Smart Contracts function of Blockchain).
AI studies each of the involved parties both for their rating and to determine if they are the best possible counterparty for a deal.
And so, the treasurer’s day continues with their digital tools.