Between sessions at HSBC’s recent Global Liquidity and Cash Management Natural Resources and Utilities Annual Forum, TMI caught up with an HSBC Representative to leverage their global expertise on the key topics impacting corporate treasury departments today, and to gather his insights on the actions treasurers can take to prepare for tomorrow.
What is the ONE thing – above all else – that treasurers should have on their agenda right now and why?
As the world becomes more digital, cybersecurity should be a priority for all corporate treasurers. They must join forces with IT to take responsibility for the company’s cyber defences, in particular around payments.
More treasurers are doing this: according to a survey that HSBC recently conducted in conjunction with Celent, 82% of treasurers cited cybersecurity as their number one concern. But the cybercriminals are now specifically targeting treasury departments, since they not only have the ability to move cash, but they also sit on valuable data, such as bank account information. Therefore, treasury teams need to be increasingly vigilant and proactive when it comes to cybersecurity.