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By Derek RUSSELL, Country Manager Luxembourg, iBanFirst
Treasury management remains one of the last largely manual functions within European SMEs. While accounting, invoicing and payments have undergone significant digital transformation over the past decade, cash management and foreign exchange operations continue to rely heavily on spreadsheets, fragmented systems and time-consuming manual processes.
For companies operating internationally, the challenge is even greater. Managing liquidity across multiple currencies requires finance teams to monitor balances, reconcile payments, analyse FX exposure and anticipate future cash requirements, often by gathering information from different banking platforms and exporting data into Excel before...
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