Asia Pacific-based corporate treasury management technology firm CS Lucas is expanding in the U.K., reports said this week.
According to BobsGuide reports, CS Lucas has opened its first U.K. office to connect businesses in the country with its treasury Software-as-a-Service offering. CS Lucas pointed to its focus on ease of integration into corporates’ back-offices as a key competitive differentiator for the firm.
“Benefitting from a very low and 100 percent transparent cost of ownership, the solution leaves clients with very little financial risk during the implementation and throughout the life cycle,” the company said.
CS Lucas also pointed to its use of IBM technology within its treasury software infrastructure, which it continually updates to remain future-ready and enable nearly constant uptime of the solution.
The launch of the APAC company in the U.K. comes amid a time of changing treasury management challenges for corporates.
Earlier this year, Citi executives spoke to a local Singapore media outlet, outlining the shifting landscape of corporate treasury. According to the bank’s global head of payments and receivables Manish Kohli, as well as Citi’s global head of channels and enterprise services Tapodyuti Bose, application programming interface (API) technologies have been particularly impactful on the space, while mobile payments, cloud computing and onboarding technology have all introduced more disruption to the space “than we have seen in our lives.”
The end-user experience of treasury technologies has also taken center stage in recent years, the executives noted, while an emphasis on data — and technologies like machine learning to analyze it — are also growing priorities for corporate finance executives.
Last November a research report from another treasury technology firm, Kyriba, found growing importance of collaboration between corporate treasurers and chief financial officers — and CFOs are urging treasurers to take a more strategic role in the enterprise.
“Treasurers typically set very high standards for themselves and the treasury function,” said Christopher Schmidt, director of research and custom content at CF Publishing, which collaborated with Kyriba on the report.