An evergreen theme for publications about treasury is how the role of the corporate treasurer has become increasingly strategic and has grown in relative importance within organisations. However, whilst it is undoubtedly true that some people in the profession have reached a strategic position within their organisation, the evidence for a wholesale shift is more patchy and to some extent aspirational; few of these articles define what a strategic treasury is and even fewer back up their claim with evidence.
Analysis of the responses from participants to the PwC Global Treasury Benchmark Survey 2017 entitled The virtual reality of treasury may shed some light on how far the profession has advanced. This article will explore to what extent treasury has become strategically relevant and how European companies differ from companies in other regions. Taking stock of the current situation may provide an understanding as to how wide the gap is between aspiration and reality and how that gap can be closed.