by Alex Verbaeten, Global Treasury Solutions, Senior Vice President, Bank of America Merrill Lynch, and Simeon Stevens, Global Corporate Banking, Principal, Consumer and Retail,
Why leading global companies need to rethink the definition
of an integrated treasury platform.
If we accept the premise that there is no going back – that the role of global treasury was forever changed by the financial crisis, then it isn’t a big leap to recognise that the way we used to do things may no longer be the way we should be doing things. ‘One-dimensional banking’ – or the reliance on individual products to address specific needs – may have worked even three short years ago, but today, it feels a bit like mailing a paper letter to convey time-sensitive information. Why would you do it?
What’s behind this new imperative? Time – or rather, the lack of time – which pushes a treasurer to have more solid solutions and bank relationships in place.
Today's treasurer needs access to a wealth of expertise that isn't limited to a single individual or source.