29-10-2021 12:55

The post-COVID treasury will need to automate

Nordea’s annual treasury survey of Nordic and international companies finds that treasury departments have been quick to adapt to the challenging circumstances of the COVID-19 crisis. However, they are spending too much time on the wrong things. Automation is the answer, says Nordea’s Johan Trocmé.
Desk in building with city view

Treasury departments have weathered the COVID-19 pandemic remarkably well, but there remains a large gap between how they are spending their time and how they want to be spending their time. 

That was one of the key takeaways from Nordea’s annual treasury survey, which this year focused on the state of the treasury function before and after COVID-19.

“Treasuries have shown a quick and impressive ability to adapt, but they still face a long journey to get to where they want to be,” says Johan Trocmé, director of Nordea Thematics, who spearheads the annual survey. He adds that automation will play a key role in closing the gap.

The study is Nordea’s sixth consecutive survey and this year drew a record response from around 200 Nordic and international large corporates across a range of industries.

While the majority of respondents reported little to no reduction in working hours due to the pandemic, they also described a shift from minimal to a moderate amount of remote work going forward. Around 64% expect to work an average of one to two days per week remotely.

Read more about the treasury survey at Nordea Open Insights