E-learning in Treasury Management

Online courses and e-learning are gaining popularity, also in treasury. Platforms are built and used to share knowledge across the whole world.

The Origins

Not surprisingly, e-learning has its origins in the IT sector. The technology in this sector changes and improves every day, leaving a huge lag of knowledge between a few experts and a huge group of software engineers. Classroom teaching only reaches a select number of students at a time. Moreover, the experts were often not able or willing to spend their time lecturing instead of developing.

A more efficient way for sharing knowledge was duly found, or rather, built: the online e-learning platform. The top engineers put their knowledge online in the form of texts, videos, presentations and quizzes; and students worldwide can log in and gain access to the material.

Of course, such a way of teaching is not limited to IT. Any topic can be taught and learned online, either as an addition to traditional learning or even as a replacement. So new e-learning platforms dedicated to all sorts of fields, including treasury.

Within Treasury

The treasury field is evolving quickly: the calculation of risks, fair values, CVA / DVA / ECL, to mention a few in risk management; changes in cash management and payment platform techniques driven by fintech companies; increased regulations from external and internal stakeholders; but also changed possibilities in the financing of organisations.

This has created the need to obtain education fast and efficiently. The e-learning technology, adapted to quickly changing fields with a few experts, is more than able to fill in the vacancy.

Since the chain of teachers has been cut short, online courses are often more up-to-date and of a better quality than corresponding classroom courses. Another advantage is flexibility: students don’t have to be in the same room as their teacher. The courses are available everywhere and at every moment, allowing each student to learn at their pace.

Instead of a physical classroom, an e-learning course takes place on an online platform. The quality of such a platform is determined by the software technology used to develop the platform, but also by the vendor that is used to host and stream the courses. Advanced platforms can for instance automatically scale up hardware, such as RAM memory and processor capacity, to obtain the required performance.

The Future

Organisations can use e-learning platforms to educate their staff for specific in-house subjects. For instance, e-learning platforms are rented to host in-company trainings for the implementation of treasury policies, treasury infrastructure, treasury processes and treasury reporting. Treasury software companies rent e-learning platforms to host and stream courses about the implementation of their software which again is used by clients and external consultants.

In this way, The engineers from software companies who started to use e-learning platforms to pass on their own knowledge to target groups have created a new type of business for their organisations: selling or renting platforms for others to share their knowledge on all sorts of subjects ranging from IT to treasury. The technological developments will steer the way in keeping up-to-date about the latest developments in an increasing wider variety of subjects for treasuries.

Once the platform is set up, however, the running costs are limited. Costs for travelling, printing material and teaching do not exist in an e-learning platform. As a result, online training is cost effective. For the suppliers of e-learning platforms the advantage is that new trainings can be added to the platform fast at low cost, which again increases the possibilities and the quality. As for the client, the cost price of an e-learning training is generally a third of the cost price for the same training supplied in a class room by a teacher.