Corporate Treasurers Receive an “F” for Fraud Prevention, Shows Kyriba / ACT Survey
This feature is upgradeable
For End Users
You can activate this feature and other links for ALL VENDORS with a VendorMatch Premium subscription. Additionally you can gain access to an increased depth of data, summary reports, RFX reports (detailed completed RFIs - available to financial institutions only) and comparison grids. Please click here for more information on Premium features.
For Vendors
Vendors can activate their links and gain access to analytics by upgrading to VendorMatch PRO. Please click here for more information
Ask an Analyst
Ask an analyst is the ability to communicate with one of our analysts about this vendor, system or genre of solution.
Survey Summary
The Survey Summary provides a download of the vendor profile, solution profile and the VendorMatch Discovery survey vendor responses used to power the directory. All responses are provided by the vendor online.
Note that this report is a high level summary of the vendor's credentials and a solution's capabilities designed to assist with solution short-listing. The RFX report is the more comprehensive Request For Information report designed to support evaluation and selection, this will only show where the vendor has completed the "RFX" RFI.
HOW TO SUBSCRIBE
To protect vendor data only financial institutions and recognized advisors can subscribe to VendorMatch Premium. Please click here for more information on Premium features or contact us to discuss a subscription.
RFX Report
The RFX report is an XLS download of the Vendors response to the “RFX” Request for Information for this solution.
The RFX is a centralized golden copy of a RFI authored by our analysts based on their expertise in running real-life system evaluation and selection projects and completed by the vendor online.
Note to protect vendor that only Financial Institutions and recognized Advisor can subscribe to this feature.
In each instance the first time the link is used the user requests permission to access the RFX report and it is the vendor who is required to authorizes access. You will be alerted when the vendor has reviewed your request and granted permission.
HOW TO SUBSCRIBE
You can activate this feature with a VendorMatch Premium subscription. Please click here for more information on Premium features or contact us to discuss a subscription.
To learn more about subscribing to our service options, please contact us here
FX risk and lack of global cash visibility high on treasury’s radar, but few view fraud as a pressing issue
Many corporate treasurers are in denial about the threat that financial fraud poses for them, according to the 2015 Kyriba / Association of Corporate Treasurers annual treasury survey. The survey of more than 300 treasury and finance professionals revealed that 53% of organisations have experienced attempted fraud (either external or internal), and more than half of these companies have suffered losses as a result of these attempts. Despite this risk, only 11% of treasury professionals view fraud as one of their three most pressing issues for the coming year, while just 6% said that their company’s approach to fraud prevention is “poor.”
The research revealed a broad range of insights into the modern corporate treasury, particularly with an emphasis on areas such as risk and cash forecasting. Almost half of all those polled have risk management as part of their daily role, with an equal number saying it’s one of the three areas where they spend most of their time. Almost 60% of those who responded cited FX as one of their three biggest risk factors. Another common challenge is a lack of visibility into liquidity and forecasts, which – despite being one of the most time-consuming activities performed by the treasury team – is still seen as a key risk factor for 40% of treasuries.
“Given all of the current global geopolitical uncertainty and the ongoing volatility with the euro, it should come as no surprise that FX tops the list of risk factors impacting the treasury team in 2015,” said Martin Taylor, vice president of Northern European sales at Kyriba. “However, it is certainly a concern that fraud does not feature highly on most treasurers’ radars, particularly given the number of high-profile cases that have come to light on both sides of the Atlantic in the past couple of years. While FX volatility can certainly have a dramatic impact on business’ bottom lines, and treasury departments should certainly be devoting resources to minimising the exposure, fraud is an area which is often overlooked until unfortunately it is too late to resolve the issue.”
The full report on the survey can be found online at kyri.ba/ACT2015survey. Please cite Kyriba and the Association of Corporate Treasurers when citing the research, and provide links back to www.kyriba.com.