• 07-NOV-2017

PwC takes a technology-oriented approach to the corporate treasury space

PwC is rated as a Vanguard Leader by ALM for Corporate Treasury Consulting 

Consulting to the corporate treasury used to be a fairly routine service area for most consulting firms, often buried in the corporate finance or, more recently, finance transformation practices. The approach was very tactical, with a “keep the lights on” focus mixed with some cost and efficiency optimisation. This mechanical approach has been encouraged by the nature of corporate treasuries, which tend to be minimally staffed and equipped with scant resources (and budgets). In response, some providers have created “treasury-in-a-box” software platform solutions, which are particularly helpful for middle tier clients, but do not always interface well with other company platforms. In this environment, treasury staff have often taken to inventing creative workaround solutions in-house to get things done, making standardisation and automation difficult.

The author of the report, Tomek Jankowski, states that ‘The leaders are at the top of the market in terms of their capabilities to create client impact through their depth of expertise and ability to deploy it across a range of engagement models. They are unique in their ability to independently execute end-to-end projects across the full spectrum of client contexts.’

Commenting on PwC the author states that “PwC has the largest treasury team by headcount – though with two of its peers fast on its heels – and takes a more technology-oriented approach to the corporate treasury space, known as “treasury tech.” Still, while there is a strong operational, automation and process efficiency element to PwC’s approach, it has also brought Strategy& into the equation to offer a coherent broader strategic approach to the treasury space.”

PwC is named ‘best in class’ for Operating System in the report and Tomek states that “PwC has perfected the delivery of customised “treasury tech” solutions with both external tools and platforms (e.g., SAP HANA ) while integrating them with client platforms and processes.”

The report also highlights that “Nestled in PwC’s Risk Assurance practice, PwC’s Corporate Treasury Services (CTS) approaches the corporate treasury from a strong technology and systems perspective, but more recently with an eye to helping corporate clients and their treasuries achieve value-adding status, and even strategic importance for the company. CTS core functional service areas are treasury organisation and strategy, deals, global cash and liquidity management, corporate finance, financial risk management, technology, working capital management, and regulatory & compliance. In CTS (and the larger finance area), consultants are closely aligned with industry sectors. The firm has a strong digital treasury offering, but also includes under treasury tech such as TMS platform capabilities, EPM (e.g., planning, consolidations) and finance operations solutions. Like most of the Big Four, PwC has a partnership with SAP for treasury solutions. However, while strongly technology-driven, PwC has worked to be able to develop highly customised, rather than generic, out-of-the-box treasury solutions for clients, recognising the need to be able to help clients whose processes are likely to be highly idiosyncratic. And though the numbers are close, PwC likely has the largest global treasury group by headcount.

Miles Everson, US Vice Chairman and PwC’s Global Advisory Leader and the Asia Pacific Americas Advisory and Consulting Leader said:  “We are really proud of this recognition and to be named a leader in this ALM Vanguard.  Our extensive corporate treasury network means we can help clients across the globe to implement treasury change and help them to come up with innovative and customised solutions from strategy through to execution.  We have a successful track record of implementing treasury change for many leading corporations.” 

1. For more information about how PwC can help you, visit https://www.pwc.com/gx/en/services/audit-assurance/audit-services/corporate-treasury-solutions.html

2. To find out more about how PwC has been evaluated by leading business, technology and industry analysts visit www.pwc.com/analystviews

3. At PwC, our purpose is to build trust in society and solve important problems. We’re a network of firms in 158 countries with more than 236,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at www.pwc.com

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