Turbulence – nature’s way of reminding me that no journey is without a challenge. The most immediate one for me is to drink a coffee while I compose this column at 34,000 feet. But as we draw a line under 2012, how much more turbulence is yet to be experienced and will it be as frequent and dramatic in 2013, let alone given my current experience over the Atlantic?
Many economists have cautious optimism for 2013; yet we’ve got a way to go before the seat belt sign is lit, our seats put upright and trays away – and how bumpy the rest of the journey will be is out of our hands. So while one could suggest that we sit behind the door unable to influence the navigation and guidance controls, surely there is more we can do?
The good news is that 2013 is looking more like “How are we going to gain competitive advantage?” rather than “Can we survive?” Someone recently said “Our destiny is not written for us, but by us.” That being so and if your company is rising out of those storm clouds, what is next in the destiny for treasury and how is it going to contribute to gaining that edge?
In truth, only you know as the treasury professional and the individual requirements of your company. Yes, SEPA needs to be implemented, STP rates, cash visibility and liquidity strategies can always be improved, but these are arguably reactive and surely a destiny requires a more proactive approach?