New York and Toronto (PRWEB) September 19, 2011
Open Link Financial, Inc. (OpenLink), a leading provider of treasury, commodity and risk management solutions, released findings from a recent survey focused on corporate treasurers. The survey of a variety of senior professionals from the automotive, manufacturing, electronics and financial services industries was conducted during a webinar to discuss how technology can improve business processes in corporate treasury.
The survey revealed that Corporate Treasurers were most interested in cash and liquidity management (86%), followed by straight through processing (STP) and operational risk (62%) and changes in the regulatory environment (55%).
Current practices by participants showed that almost half (48%) currently use spreadsheet based systems, with 32% using vendor solutions and 12% utilizing a bank portal.
Martin Taylor, Managing Director, OpenLink’s Financial and Corporate Treasury Division, Europe, said, “It is clear from the survey that market participants require robust and flexible technology solutions, such as OpenLink, which meet their interests in timeliness of cash and liquidity management, risk management and increasingly complex compliance, at the same time moving them from the inefficiencies of spreadsheet environments.”
The survey also ranked the issues that will be most concerning to treasury back-office professionals over the next two years, the results were:
- Over a quarter (27%) of respondents said SWIFT access as an alternative to proprietary bank settlement systems will be of major interest
- 21% said ensuring accurate hedge accounting is a main issue
- 20% of respondents cited electronic bank account management (eBAM) as a priority for the next two years
During the event, Graham Evans, Head of Treasury Operations, Nationwide Building Society, commented, “These results are in line with what we’re experiencing. Firms need to address their STP issues for confirmations and payment matching, as well as ensure their SWIFT solutions are speaking their language. Corporate treasury departments will need solutions that encompass real-time data for complete transparency and audit functionality in order to combat the concerns they noted: cash and liquidity management, operational risk and STP.”
Learn more about OpenLink’s solutions for corporate treasury at: http://www.openlink.com/software/corporate-treasuries.html
Nationwide is over 160 years old and the product of over a hundred building society mergers, most notably the mergers with the Anglia Building Society in 1987 and the Portman Building Society in 2007. Today, Nationwide is the UK's third largest mortgage lender and third largest savings provider. Significantly, Nationwide is the largest building society in the world.
The Nationwide Group offers a broad range of retail financial services, mortgages, savings, current accounts, life assurance, investment products, personal loans and general insurance products, available through a variety of access channels. Our approach to providing financial services is straightforward. We aim to offer a broad range of great value products, while charging as little as possible for day-to-day services. We aim to provide products that are widely available and delivered with speed, courtesy and reliability, backed by policies of fairness, honesty, employee importance and corporate responsibility.
Nationwide’s headquarters are in Swindon with a second major administrative centre in Northampton and one in Bournemouth.
Founded in 1992, OpenLink is a provider of cross-asset trading, risk management, related operations processing and portfolio management software solutions for the commodity, energy and financial services markets globally.
OpenLink's client base of more than 350 customers worldwide includes 12 of the top 25 largest commodity and energy companies by market capitalization, eight of the largest financial institutions and 11 of the largest central banks, as well as major hedge funds, commodities companies and public utilities.
Headquartered on Long Island, New York and with offices in New York City, Houston, London, Berlin, Vienna, São Paulo, Sydney, Singapore, Moscow and Toronto, OpenLink has more than 1,000 employees worldwide.