Shaping up for the future
The global financial crisis and its fallout are often cited as having enabled treasury departments around the world to become strategic partners to the business. And whilst this may be true to a certain extent – the crisis certainly provided treasury with a platform to shine – the department could have easily fallen out of the spotlight once the crisis abated.
But this hasn’t happened, treasury has gone from strength to strength, despite all the challenges. So yes, the crisis provided the platform, but it is the treasury profession’s work since then that has enabled the function to achieve and maintain a strategic mandate.
It is this evolution that we discuss in this edition of the magazine, particularly in our Treasury Practice feature where we take a renewed look at the role of the treasury in 2017, analysing how the profession has developed and thrived. We also pose the question of what the role needs to further succeed and become a true partner to the CFO?
More innovative technology is unsurprisingly something that many treasury professionals are calling for. The good news is that there are huge advances in this space which we address in this issue. We also investigate the evolution of the payments industry and how multiple market players are working to provide you with a more cost effective, transparent and efficient payments infrastructure.
Elsewhere, we assess the increasing importance of the user experience offered by banks and treasury technology providers. Indeed, this could be set to become an ever-important area as products are more commoditised and may be the key differentiator for treasurers when selecting providers.
March/April’s Corporate View, Janko Hahn, Head of Treasury Operations at Autoneum, sums up these two themes nicely as he talks about his career and how he has ensured that treasury remains at the forefront of the technology projects happening across the business. He also provides some interesting perspectives on why treasurers should strive to think globally, but act locally.