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Why Treasurers Need to Take a Lead Role in Analytics

Analytics software can help treasury and finance staff reap the most value from their companys vast swath of big data, streamlining regulatory compliance and many other finance processes.

By Drew Rockwell | Updated on March 31, 2015
For corporate treasurers trying to navigate new federal regulations, the road to compliance may be buried under massive amounts of data.

Today’s regulatory landscape is complex and in flux. Dodd-Frank, FBAR, SEPA, and FATCA all require organizations to improve their tracking of, and reporting on, specific metrics. Treasury and finance teams must be able to deliver accurate, complete details on thousands—if not millions—of transactions, and do so very quickly. They must cull and analyze this data, which changes on a daily basis, while accounting for issues such as data availability, system functionality, and data integrity. In many companies, the traditional tools, such as spreadsheets and applications developed by end users, cannot keep up.

The pain doesn’t end with regulatory compliance. The same issues around data volume, complexity, and transparency that arise in compliance efforts also arise anytime the finance team presents financial figures to interested parties, either inside or outside the organization.

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