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Treasury Today May/June 2019

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Editorial

The whole is often greater than the sum of its parts

At this point in 2019, those in the UK who voted to leave the EU should have been cheering as they finally threw off the shackles of EU membership, whilst those who voted remain would be ruing the day former Prime Minister Cameron decided to play political games with the country’s future. It has not happened yet. It might not. The truth is that nobody knows.

The fact that such a relationship, both politically and economically, cannot seemingly be unwound without one side or the other throwing up their arms in dismay, suggests that the modern world is built on stronger ties than anyone dares or, in some cases, wants to imagine.

Arguably, forming deeply-embedded relationships builds strength, if not always providing for unity. By their very nature, whether at a supranational, domestic or organisational level, complex relationships are difficult to unravel. But if they are founded on common purpose and vision, and allow each stakeholder an equal voice, why would it need to be torn apart?

In this issue, we take a long look at the strength that comes from working together.

In our cover feature, we examine how fintechs and banks have dropped their short-lived hostilities and are choosing instead to partner for mutual benefit – and how treasurers are reaping the rewards of this newly cooperative mindset.

The power of interconnectedness of functions and technology over isolation comes under the microscope, in our feature on holistic treasury. We also peer into a crystal ball, considering the nature of future-proofing treasury, asking how, in an age when new technologies are offered with unprecedented frequency, treasurers can leverage such progress whilst avoiding failures (clue: integration).

In this edition’s look at trade in emerging regions, on-the-ground experts offer solutions for treasurers seeking to mitigate risks and leverage opportunities across LatAm and Africa. With more countries in each region now disposed to working together, the positive results are starting to show.

And this is the point. At multiple levels – internally and externally – regions, countries and organisations have many opportunities to work together. When choosing this approach, the outcomes, whilst not always perfect, are often better than expected. But they are always healthier than pulling up the drawbridge and refusing to cooperate.

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