In the past 12 months, large companies have reignited their focus on treasury operations, seizing unprecedented opportunities to optimize liquidity, harness market volatility, and fuel strategic growth amidst rising interest rates and shifting economic landscapes. Thailand’s economy is gaining momentum, with GDP growth accelerating to 2.3% in Q2 of 2024, signalling a promising outlook. As the economy expands, businesses face challenges such as currency volatility, rising interest rates, and unpredictable global markets. However, with the rapid deployment of advanced treasury strategies, companies can turn these challenges into opportunities, driving profitability and staying ahead of competitors. Outdated treasury functions simply won’t keep pace with today’s economic demands. Proactive treasury management is essential for companies to thrive in Thailand’s evolving economic landscape. Now is the time to embrace innovation and seize the potential for growth.
The role of treasury management and digital transformation are pivotal for a competitive business. Financial practices are evolving globally and technological advancements such as APIs are reshaping the industry. For example, in 2022, Kasikorn Bank (KBank) launched Thailand’s first challenger bank. According to their website, the digitisation of KBank had increased its amount of K PLUS online banking app users by 2 million with an increased reported amount of transaction of USD 300 million in the year 2022. In addition, for the next 2 years, the bank further invested USD 600 thousand in advancing its security measures in order to increase its ability to detect and prevent unusual transactions. KBank’s shift towards digital treasury tools has allowed them to optimize real-time decision-making and enhance their cash flow forecasting.
Treasury’s adoption of digital tools and real-time financial data enhances the treasurers’ ability to manage funds while maintaining transparency and minimizing risks. During a financial crisis, the treasurer’s well-informed decision is a must amidst interest rate shifts and geopolitical uncertainty. The 2nd Annual Group Treasurers Forum by Trueventus will focus on the strategies and technology that you need to stay on top of the game. Join us and tune into insights by market leaders and subject experts on navigating through the now advanced and volatile world of treasury operations.
