Following years of trying to keep pace with the relentless growth on the business side, CFOs and treasurers in Asia are seeing a new more deliberate phase of growth. While the slowdown can be a source of worry, it has also opened up a number of possibilities: the opportunity to examine the inner workings of the organization, sharpen focus on efficiency, and a greater incentive to look for new markets.
If 2016 was the year of the unthinkable (Brexit, Trump, et al), 2017 could turn out to become the year of change and a new world order. Caught between the two T’s of Trump and technology, the treasury function will need to be both agile and adaptable. The business ramifications of both will have a lasting impact on how companies in this region operate and how they are able to navigate the terrain in the years ahead.
In a few short weeks since his inauguration, US President Trump has signaled that he is no longer following the well-worn path of free trade and globalization, upending the Trans Pacific Partnership even before it got underway, and challenging the basis of the North American Free Trade Agreement. His thinking suggests a break with the old approach of manufacturing goods in the most efficient way, relying on an intricate matrix of supply chain built globally over the past decades.
Technology, meanwhile, could underpin the transformation of treasury like never before. Governments in the region are driving the digital agenda forcing transaction flows onto electronic platforms. Financial centres, such as Hong Kong and Singapore, are taking the lead to encourage the use of technology by enabling fintechs to play in dedicated sandboxes.
Meanwhile, banks are accelerating their adoption of digital. For them, it is both an issue of reducing the cost of service and also as a means to respond to the challenge that is beginning to emerge from fintechs. Global banks are also being challenged by their domestic counterparts, as adoption of technological enablers accelerate bringing automation not just to multinationals and large local corporates, but also to small and mid-sized enterprises.
Indeed, the function of treasury is entering a new world order. How will these changes shape the coming 12 months and beyond? What are the opportunities and challenges that are considerations for the CFOs and treasurers in the evolving landscape? What tools are available that will help to drive efficiency, improve controls, and increase the visibility?
The Asset Events proudly presents its 3rd Asia Treasury and Trade Summit, a strategic one-day event which will bring together the region’s most innovative and influential CFOs and treasurers to highlight the key trends and innovative solutions that are reshaping corporate treasury in the region.