PwC’s 2019 Global Treasury Benchmarking Survey, see, contained several important insights into what is corporate treasury is all about:
- Treasury’s mandate is to “optimise financial assets and liabilities, drive cash flow improvements, process cash transactions, and manage financial risk is on the precipice of profound change”
- the Treasury function’s role is to be a strategic advisor to the broader organisation, and is now focused on value-adding activities outside the traditional mandate like working capital management and M&A support
- corporate treasury needs a digital treasury ecosystem “where the CFO or treasurer makes real-time financial decisions utilising interfaces and customisable technology”
- three attributes most sought after in treasurers and their teams today, beyond functional treasury expertise, are:
- strategic thinking: reflecting a shift from financial management to providing strategic guidance
- business partnering capabilities: highlighting the need to capitalise on cross-functional relationships
- technological affinity: affirming Treasury’s role in guiding the organisation into a digital future
- treasury is moving to a workforce of the future, defined by its ability to drive transformation, minimise manual efforts, and maximise business insight
- treasury teams are evolving in mindset and capability to become a combination of man and machine.
CTMfile take: Clear insight is never obvious. This study is essential reading for all corporate treasury departments.
CFOs have opportunity to drive organisational change
The CFO’s role is broader and more complex than it was even two years ago, with greater responsibility and scope to drive change
Four ways finance can shake up the organisation
The best practices that have been in place up until this point may no longer be sufficient – here are 4 ways CFOs can help drive change
Forward-thinking regulation: catalyst for banking transformation?
DB white paper concludes that all the financial services industry needs to do is to “attain a threshold level of alignment across juris