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The ‘virtual reality’ of treasury - Global Corporate Treasury Benchmarking Survey 2017

PwC’s “Global Corporate Treasury Benchmarking Survey 2017” is based on the views of 220+ treasurers and Chief Financial Officers (CFOs) worldwide. It reveals, as Sebastian de Paolo, Global Corporate Treasury Leader at PwC, commented, "that today the success of the treasury profession is dependent on how well it adapts to - and operates in - an increasingly virtual environment.” Not only this he points out that, “More than ever, treasury professionals have to be jacks of all trades to succeed in today’s environment.”

Key findings:

  • Treasury’s scope continues to expand and is now a company-wide process – it no longer operates as a single ‘department’ as 67% of people involved in treasury processes do not report directly to the treasurer
  • The agendas of the treasurer and the CFO should be better aligned
  • True focus on cash flow forecasting is needed but remains a challenge
  • Cybersecurity needs to be owned by the business, and not just by IT
  • Base Erosion and Profit Shifting (BEPS) will bring tax and treasury closer together
  • Treasurers need the means to make their activities truly resilient and effective.

The report

PwC are at their best examining the basics of what is happening in corporate treasury. It is is not just the diagrams but the terms and descriptions they use, for example:

  • The dynamics of the treasury function:
    • Source & Copyright©201 - PwC 
  • Changing role of treasury and how treasury is no longer a department, raising the question: “Is today’s treasury ‘fit for purpose’?”
  • Relative importance of treasury-related risk mitigation measures:
    • Source & Copyright©2017 - PwC 
  • linking strategy, organisation and control:
    • Source & Copyright©2017 - PwC 

There are many other important charts and analyses which CTMfile will be reviewing over the coming weeks.

CTMfile take: This report is a must to download, read and debate internally as to the implications for your corporate treasury department. The many insightful charts and analyses in the report raise important questions about corporate treasury in general and how your department is coping with today’s pressures.

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