The document summarizes the results of a survey of corporate treasurers, CFOs, and other finance executives. Some key findings include: - Over 60% of respondents said that the biggest barrier to effective technology use in treasury departments is that its importance is recognized but not given enough priority. - Around 70% of respondents agreed that treasury departments are well placed to advise senior management on regulatory changes but are not well integrated into the wider business. - Respondents saw sluggish global economic growth, currency risk, and regulatory risk as the most serious macro risks to company finances over the next three years.

1. 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 RECOVERY
How 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