Demand for Treasury Technology Increases in Malaysia, Finds SunGard
A recent study conducted as part of a SunGard forum on treasury best practices in Kuala Lumpur, Malaysia, found that approximately one-third of the forum attendees have introduced specialised treasury management systems (TMS) in an effort to improve cash, liquidity and risk management and to support their expanding businesses.
SunGard conducted the roundtable forum to determine the prime challenges that treasury professionals are facing in Malaysia. Liquidity management topped the list, while establishing improved controls and policies within the treasury was a close second. In Malaysia, many companies continue to manage cash, liquidity and risk manually or by using spreadsheets – practices that are time-consuming and prone to error.
For companies in the region that are looking to expand globally and better manage liquidity, treasury management technology can help introduce automation and standardise processes, which can help them improve overall treasury management so that they are better positioned for growth.
Mike Fullmer, senior vice president (SVP) for SunGard’s AvantGard business unit, said: “As corporations in southeast Asia continue to experience growth, their treasury requirements are deepening. Leveraging treasury management technology to automate treasury processes helps companies achieve a timely view of their cash inflows and outflows across regions, regardless of how widely dispersed their operations, as well as offers functionality for tighter control over data and processes.”