GTreasury and PNC Bank Jointly Release CFO Focus Survey Report

CHICAGO —

GTreasuryandPNC Bankjointly released a survey report: "Pressure Points, Payments & Plans for Automation: The Road Ahead for CFOs and Treasurers" (Pressure Points, Payments & Plans for Automation: The Road Ahead for CFOs and Treasurers). The report, conducted by Topline Strategy and commissioned by GTreasury and PNC Bank, explores the current state of CFO and corporate treasury strategy, execution, and outlook. The full report is available at:https://resources.gtreasury.com/PNC-Report-2022.html。

The research paints a turbulent road ahead for CFOs and treasury leaders over the coming years, yet respondents showed surprising optimism. 85% of surveyed CFOs and treasurers expect their companies to achieve significant or moderate growth through the remainder of 2022 and into 2023, but this optimism is based on the fact that 49% of these leaders rank cost efficiency as their top strategic priority for the new year.

Howard Forman, Senior Vice President and Head of Digital Channels at PNC Bank, said: "CFOs and treasurers appear to have clear goals in achieving more accurate, efficient, and automated treasury practices, and they are eager to leverage new technologies to achieve these goals. Clearly, CFOs are particularly focused on costs right now, but the wise use of modern technologies, such as embedded finance applications and automation, will reduce costly or redundant inefficiencies while providing treasurers with the best tools to do their jobs."

Key findings of the report include:

• Digital transformation in the finance department is lagging.Most companies (58%) have not yet established a formal digital transformation plan or approach to meet market demands. However, the trend appears to be shifting, with many CFOs and treasurers viewing real-time payments and "full-service" treasury systems as good investments.
• Treasury teams are not growing in size but are being asked to do more with less.Most treasury teams are small but face increasing expectations from management and leadership. 70% of treasury teams have five or fewer members yet manage more than five subsidiaries, which may explain why 53% of surveyed treasurers are highly focused on improving operational efficiency.
• Outsourcing of treasury functions is increasing.Smaller treasury teams, heavier workloads, and higher expectations are making outsourcing a viable option for companies seeking to do more with less. Currently, about a quarter of companies outsource some treasury functions to partners to leverage their expertise and efficiency advantages, with banks receiving more than 50% of outsourced business. Outsourcing technology and resources not only helps companies navigate uncertain markets but may also unlock key financial opportunities and add more business value.

Renaat Ver Eecke, CEO of GTreasury, said: "For CFOs and treasurers, this report provides insights into how many peers are navigating a particularly critical and turbulent era. Companies will not only be affected by economic headwinds beyond their control, but the competitive disadvantage of failing to modernize and automate key finance and corporate treasury functions is growing daily. The report offers a window into how companies can position themselves for more digital transformation and growth while macro conditions remain highly uncertain."

"Pressure Points, Payments & Plans for Automation: The Road Ahead for CFOs and Treasurers"aims to help educate finance and treasury leaders within the industry and drive financial automation. Participants included 93 finance executives and corporate treasurers, representing a cross-section of more than 20 industries, covering large and mid-sized companies. The full report is available at:https://resources.gtreasury.com/PNC-Report-2022.html。