The Future of Corporate Treasury

3 The Future of Corporate Treasury Corporate treasury is skilled at dealing with change. A large part of its job is managing the risk associated with cyclical trends, global regulatory initiatives, and geopolitical and macroeconomic events. However, the corporate treasury ecosystem now faces change of a different magnitude. A fundamental shift in its role, the tools at its disposal and its relationship with the business is underway as a result of the emergence of new technologies. The pace of change is only going to further accelerate. Citi is pleased to partner with independent treasury advisory Zanders to produce this report entitled, The Future of Corporate Treasury , which addresses some of these issues. Citi’s perspectives are reflected in the next two sections of this report; those of Zanders — and of a representative group of technology firms — form the remainder of the report. Corporate treasurers who recognize our transformative times and prepare to take advantage of change, and manage its risks, will be better positioned to support the business, the C-suite and the board, and thrive in the coming decades. We hope this report will aid corporates in that mission and we trust that it proves both informative and valuable to you and the organizations you serve. Laurens J.A. Tijdhof Partner, Global Treasury Advisory Services, Zanders Ron Chakravarti Global Head, Treasury Advisory and Market Management, Treasury and Trade Solutions, Citi Introduction Contents Introduction 3 The Transformation of Treasury 4 Are Corporates Embracing 5 Digital Treasury? Treasury Objectives 9 and the Next Maturity Level The Treasury Technology 10 Landscape Glossary 22