The Point

Changing Times and Evolving Expectations in the Treasury Office

Jul  06 
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Dennis Wang  Director, Product Manager, Business Banking, Fiserv 

As technology makes our lives easier, quicker and more efficient, the pace of change in the financial industry is moving exponentially faster. With these advances, the role of corporate treasury is evolving.

Just as it's always been, today's corporate treasury office is tasked with ensuring the financial well-being of a company, including enabling the business to stay competitive and fostering efficiencies. In addition to these priorities, treasurers are now tasked with helping future-proof the company against impending and uncertain external and internal factors.

External factors influence the daily operations, processes, decisions and strategy of any corporate treasurer. These factors include economic issues, geopolitical trends, financial regulations, global issues, industry trends, currency volatility and other multidimensional risks.

Internal factors are also changing the traditional role of a corporate treasurer, moving from traditional accounting to meeting increased expectations, which include:

Treasury is an enterprise-level function: Rather than stay solely within the finance silo, treasury now must reach across multiple business groups to achieve the best possible picture.

Treasury is multidisciplinary: The treasury office is at the intersection of business, technology, policy, process, people, procedure, operations and systems. These operations span every connection in a business's front office, middle office and back office, including management of cash and liquidity, payments, risk and emerging technology solutions.

Treasury is an evolving function: According to the 2015 Deloitte Global Corporate Treasury Survey, more than 70 percent of treasurers have clear mandates from their CFOs to be more strategic.

To adapt to the latest technology developments, internal and external factors will increasingly require treasurers to become more flexible. Times are changing, and treasury is no longer a static role focused solely on the numbers.

Interested in learning more about the changing role of the treasury? Read Dollars and Cents: The Evolving Treasury.  Take our treasury survey to share your thoughts.