New research by SunGard and the Finance and Treasury Association in Australia has found that 48% of senior treasury professionals in Australia and New Zealand use cloud-based systems, whilst 78% expect the sector to see continued growth.
Of the companies who reported using non-hosted internal systems, 44% were considering moving onto the cloud whilst 54% reported being hampered by a lack of internal IT resources. Technology related issues were a commonly cited problem, with 28% of those polled saying that this posed a challenge. Around a fifth also experienced challenges when it comes to cashflow forecasting (22%) and risk management (19%).
“While the treasury technology landscape continues to evolve, treasurers’ fundamental priorities remain the same as ever; functionality and integration,” said John Filippis, Vice President of Solution Architecture for SunGard AvantGard’s Asia Pacific sector. “Hosted, hosted and managed or software-as-a-service solutions can help meet and maintain compliance needs without having to upgrade and rebuild internal systems – a costly and time consuming process.”