Treasury4 has raised $20 million to expand its software platform for treasury and finance practitioners.
The company announced its Series A funding — led by WestCap — in a news release Wednesday (Sept. 13), saying the funds would allow it to enhance Entity4, its legal entity management solution, and Cash4, its global cash management tool.
“Treasurers and CFOs are experiencing a transformation in their contribution and influence. They now have access to more data, enhanced by improved visualizations, with faster processing capabilities, and greater foresight,” Steve Helmbrecht, Treasury4’s president and CEO, said in the release.
“By using modern digital technologies, these leaders will gain deeper insight into the direction of the firm, more time to strategically plan and collaborate, and a greater ability to guide the organization,” he said.
PYMNTS examined the evolution of the CFO role last week, noting that more has changed for these executives in the last five years than the last five decades.
“We’ve experienced things that we had not seen for decades, such as a global pandemic, an economic downturn and constant geopolitical instability,” Vikas Mehta, CFO at Komodo Health, told PYMNTS.
Add to that list: an ongoing digitization of the office, with CFOs “at the forefront of navigating these systemic changes for their organizations,” as PYMNTS wrote.
As the business landscape evolves, that report said, finance teams can weather the changes by “controlling for what’s controllable.”
“If you are constantly watching those things you can’t control, then there’ll be more noise than signals, and you won’t be able to clearly drive the organization in the right way,” Mehta said.
“Something that CFOs can control for is driving a thoughtful, disciplined mindset within the company, which includes integrating the best technology and making sure that team members are empowered to do more collective, high-value work, versus more mundane tasks,” he added.
Also last week, PYMNTS looked at the way new technology can help CFOs juggle large volumes of information and get insights supported and generated by tools like artificial intelligence (AI) and machine learning (ML).
“AI and ML are transforming everything treasury, it’s the equivalent of the Industrial Revolution 4.0,” Jarrett Bruhn, managing director and head of data and AI in global transaction services at Bank of America, told PYMNTS.
“When you think of what a treasurer does, trying to find operational and cost efficiencies, these tools and technologies fundamentally change how they can do their daily job,” he said.