The role of treasury, and the corporate treasurer, has been evolving over the past decade. And there’s no turning back – pandemic or no pandemic, ‘the new normal’ is here to stay.
The business landscape is being shaped not just by Covid-19, but by digitisation, rapidly changing technology, geopolitical unrest and regulations for everything from financial messaging and transactions to data privacy. To stay relevant, treasurers need to be more flexible, adaptable and reliable than ever before.
There are six key areas of importance that treasurers should keep top of mind while planning for the near- and longer-term future: cash visibility, communication, cybersecurity, compliance, technology and flexibility.
Accurate cash visibility, positioning and management are key to businesses surviving and thriving. Supply chain disruption due to Covid-19, and the resulting liquidity issues – paired with an uptick in fraud – have made it even more vital for treasury to know how much money there is and where it is, and be able to access it when it is needed.