Finance Execs Foresee Tech Disruption Featured
03 January 2018
Technological innovation and disruption is poised to greatly influence the investment priorities and business plans of financial executives, according to the 2017 Treasury Management survey conducted by TD Bank. For 2018 and beyond, finance professionals cite process automation (31 percent), distributed ledger/blockchain (23 percent) and artificial intelligence/robotics (15 percent) as the top disruptive technologies that will have the largest impact on treasury functions and payments over the next two to three years. The survey collected insight from 340 corporate treasurers and other finance professionals at the 2017 Association for Financial Professionals conference. Disruptive technologies are top of mind for these individuals, who cited that they are preparing for changes in the treasury management industry by:Leveraging solutions from fintech providers – 31 percent Developing in-house technology to get a leg up on competitors – 23 percent Hiring more tech savvy employees to keep up with the trends – 15 percent Although most companies are taking proactive steps to embrace technology in their finance capabilities, another 29 percent of respondents said that they are taking a "wait and see" approach. While more than a quarter of executives reported taking a more cautious road, 10 percent of their peers indicated they will invest in one of the more experimental technologies: artificial intelligence and robotics.