The purpose of a corporate treasury department is to be the guardian and anchor of the financial health of the corporation. Or in the long term: “To ensure the survival of the company sustainably.” – see.
This was reflected in a chat with a corporate treasurer last week. Who, when I asked what are you focusing on right now, he said:
- understanding our liquidity
- cash flow forecasting in much more detail than we have ever done before, particularly in the short term
- using the results from these to stress test how we will survive in all sorts of scenarios.
He finished by saying, “It’s simple really. Just scary because no-one really knows how it will turn out.”
Request-To-Pay is great but… and I am looking forward to…
- This a fantastic service – it so much better and cheaper than cards and it also has irrevocable payment, but:
- The problem is going to be user acceptance and becoming part of their normal habits
- Today with the level of fraud and the many new scams, etc. users are very wary of clicking anything new or strange
- It will take time to establish itself
- However, I am looking forward to linking it with the mobile Apps that enable the user to self-scan the items and then Request-To-Pay could be used to automatically debit them when they have finished shopping.
CTMfile take: Even in the direst of times, corporate treasurers are not just ensuring their survival, they are also looking for new solutions, new business models.
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