by Jean Furter, Vice President, Treasurer, Brocade
Recognised as the Treasury Team of the Year 2011 in the gtnews awards, and winner of the Grand Prize in the AFP Pinnacle Award in 2010, Brocade’s treasury department has raised the standard to which every treasury can aspire. In this article, treasurer Jean Furter describes how Brocade’s treasury has differentiated itself, and the value that it has been able to contribute to the business.
From operational to strategic
Treasury is at the heart of every complex multinational organisation. The right treasury strategy can have a major impact on the company’s ability to anticipate and respond to changes in market conditions and deliver on new business strategies. With this in mind, it always surprises me how many treasurers continue to take a tactical view of their activities, concentrating only on how to increase efficiency in operational cash and risk management activities. Often, considerable attention is given to technology and processes to achieve this.
At Brocade, we have a different approach. Technology has a role to play, of course, but intimacy with the business is what facilitates improvement. Treasury has to be a strong strategic presence in the organisation, and play a role in defining business strategy. The greater treasury’s knowledge and depth of involvement in the company at a strategic level, the more effective it can be, and the more efficient in delivering on its specific responsibilities. This article looks at how Brocade’s treasury has become an integral strategic force in the business, and how performance has been enhanced as a result.