Businesses are feeling the pressure of a slow and low-growth economy, dealing with the challenges of lower profitability, pressure on cash flows and higher debt costs. With inflation expected to remain higher than usual for the next year and interest rates slowing only marginally, keeping an eye on costs will remain a priority.
More and more businesses are turning to technology to improve their cash and treasury management processes, such as automating their manual processes.
Automating treasury processes was rated the top priority for treasurers worldwide in 2023.
Besides payments, there was a significant increase in treasurers automating their reconciliation processes.
This article is posted at natwest.com
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