An HSBC Industry View
by Ian Fleming, Managing Director, Working Capital Advisory, HSBC
Working capital management has emerged as one of treasurers’ most important priorities over recent years. According to Deloitte’s 2015 Global Treasury Survey, in which 23% of respondents represented the technology, media and telecoms (TMT) sectors, nearly 70% of treasurers have been mandated by the CFO to drive working capital improvement initiatives, not simply for tactical reasons, but to drive shareholder value. Despite this mandate, however, the survey revealed that working capital optimisation does not yet appear to be a treasury priority, which suggests that both treasurers’ and CFOs’ commitment, or ability to influence working capital may be limited.