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State Treasury Transformation
Deploying advanced solutions in the age of modernization
Today’s state treasurers face an increasingly complex environment characterized by volatile markets, tighter regulatory scrutiny, and shrinking budgets. In an effort to address these and other challenges, more state treasurers are seeking to adopt advanced systems and leading practices to achieve three specific priorities: Increasing transparency, modernizing technology, and transforming core processes.
- Increasing transparency
- Technology modernization
- Process transformation
- Deloitte difference
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In the midst of ongoing fiscal pressures on state governments, treasurers must respond to growing demand to demonstrate responsible financial stewardship and greater transparency with the public and regulators as they strive to effectively balance investment risk and returns and increase efficiency and cost savings.
Deloitte provides a variety of services to help increase transparency including:
- GASB accounting impacts of treasury and investment transactions and administration
- Treasury fraud and controls
- External investment manager analysis, selection, and oversight consulting
- Regulatory, tax, and investor reporting assistance
For many states, a heterogeneous mix of aging and siloed systems is a main barrier to meeting their service objectives and transparency goals. These decades-old environments lack the integration that treasury organizations need for timely visibility into cash, investment, and debt portfolios and the cross-department collaboration that is needed to achieve improved performance.
Our technology modernization services include treasury technology strategy and systems selection, treasury technology implementation and integration, and technology project management.
A surprising number of state treasury organizations still rely on highly manual processes and tools (for example, using spreadsheets to manage cash and forecasts). More states are recognizing that they need to transform core processes to reduce operational risk and foster the agility they need to respond to economic changes and technological innovations that can affect revenues, interest rates, credit ratings, and borrowing costs for the state.
Deloitte provides a range of process transformation-related services, including treasury visioning/ treasury transition labs, core technology transformation (TMS), digital technology transformation (primarily RPA and advanced analytics), and pooled collateral programs.
Our team consists of hands-on treasury professionals who are dedicated to serving as trusted advisors to treasury, risk, and finance executives. Many of our professionals are former treasury and investment management practitioners and bring deep experience from working with some of the world’s largest treasury departments, leading banks, and treasury technology vendors.
Our extensive experience working with leading investment managers, custodians, investment software vendors, financial firms, and treasury technology vendors translates into quicker time to value for our clients. We also bring a wealth of insight from previous client projects and deep knowledge of banking practices and transformation strategies.