Treasury teams are becoming increasingly strategic, but most are ill-prepared to leverage the technologies that can move them further down this path. That's the headline news from Deloitte's "2019 Global Treasury Survey," released late last year.

Deloitte surveyed treasury professionals from an array of different industries, who are located primarily in Europe, the Asia-Pacific region, and the Americas. Nearly two-thirds of respondents (62 percent) reported that visibility into global operations, cash, and financial risk exposures is their biggest strategic challenge, followed by liquidity (57 percent) and currency volatility (50 percent). These results make sense because almost every respondent (97 percent) said liquidity risk management is a critical or very important mandate for their function, and 94 percent placed high importance on serving as a steward for financial risk management for the company. (See Figure 1, below.)