The study uncovered that the top three treasury challenges are:
The study also found that 87% of Middle East respondents have a treasury function. However, for cash management nearly half of respondents spend at least 75% of their time using spreadsheets and manual processing. As treasurers are increasingly tasked with responsibilities beyond efficient and effective cash management, the study shows that organizations in the Middle East are supporting this expanded role with the necessary resources. Click here to download the study. Wissam Khoury, managing director of SunGard Financial Systems Middle East, said: “As Middle East treasuries grow in sophistication, many of the challenges that they face need to be addressed through more advanced treasury technology. In addition, organizations should review the most beneficial way to deploy and manage that technology. For some organizations, that may be on premise, while others would prefer private cloud or a managed services environment.”
Treasurers in the Middle East are facing growing pains as corporations emerge onto the global stage. The continuous developments in information technology highlight the benefit of a specialized TMS; the added value dramatically improves the ability of the treasurer to be strategic. Enrico Camerinelli, analyst, Aite Group
This study will help underpin the growth and development of the corporate treasury profession in the Middle East, where treasurers are increasingly involved in managing financial and business strategy for their organizations. Peter Matza, Engagement Director of the Association of Corporate Treasurers Middle East
For more information please contact: Adriana Villasenor SunGard +1646-445-8148