Future-proof

1. Adjective.

Relatively unlikely to become obsolete in the near future.

2. Verb.

To select or adapt systems appropriately to minimise the risk of obsolescence.

Think ahead

"In such an era of flux, organisations need assurances on efficiency, competitiveness, scalability and future-proofing for investment decisions.

The modern treasury function is expected to be more strategic, to collaborate with the business it serves, and to be comfortable with the use of centres of excellence to support global operations, including the use of in-house banks (IHB) and shared services centres.

However, they are often burdened with poor processes and outdated technology."

The Treasurer's Handbook, Approaching technology decisions in the treasury function, Carl Sharman FCA FCT, Head of Treasury Technology Advisory, Deloitte.

See also

• Approaching technology decisions in the treasury function
• Enterprise-wide resource planning system
• Futures
• In-house bank
• Millennium bug
• Shared Service Centre
• Treasury management information systems
• Treasury workstation