Citi Perspectives 2024 Corporates Edition

28 | Services Citi Perspectives Insights from Client Advisory — The Real-time Treasury Evolution: A shift to modernization By Joseph Vasen Managing Director Joseph is a member of Citi Services’ Client Advisory Group. The group is a treasury practitioner-led team that helps Citi clients progress treasury practices and evolve corporate treasury functions to support enterprise growth and transformation. For more information on consulting with Client Advisory Group, please reach out to your Citi representative. Treasury is the true unsung hero of any business. And you don’t have to take our word for it. Just ask any Treasurer. Humility aside, chief financial officers and treasurers agree that the real value of treasury lies in the function’s ability to fund the business andmanage financial risks so as to support revenue, optimize cost, manage working capital, and ensure process efficiency. To accomplish its vital mission, Treasury departments are increasingly asking: can innovative, next-gen technologies help us achieve improved results? The answer is yes. Amongst the powerful new technologies that are being deployed are distributed ledger technology (DLT) and application programming interfaces (API), which hold the potential to revolutionize treasury processes. To be successful, it is pivotal for treasurers to focus on their data and digital strategy, extending their thinking beyond shoring up the basics and boldly prepare to shift to full-fledged modernization.