New Study From CFO Research: Treasury Role Taking On More Strategic Importance; Growth and Globalization Require New Skill Sets
Boston, MA (PRWEB) July 29, 2013 -- Traditionally, Treasury operations have focused largely on the conversion of collections into cash; today, the Treasury function has become much more involved in the management of the entire business process and is being called on to become more of a strategic advisor to the business.
That’s the conclusion of two studies conducted by CFO Research and underwritten by SAP, a business software company. The full reports, “The Next Generation of Treasury: From Cash Manager to Strategic Advisor” and “What Corporate Treasuries Want from Their Banks” are available for download at http://www.cfo.com/research.
Based on an online survey of 661 finance executives and managers at companies in North America, South America, Europe and Asia Pacific, the research finds that as companies look for new sources of growth, Treasury is becoming a valuable partner in the process. “Treasury has moved from a transactional service provider to a strategic adviser with strong execution capabilities,” declared one CFO.
Companies are looking for the Treasury aspect of their business to be less insulated, and to become a more inclusive corporate activity reaching across non-traditional lines, such as operational efficiencies, investor relations, and even employee benefits.
Globalization has played a major part in the changing role of the Treasury. In order to expand, companies need the ability to track cash flows and anticipate revenue flows from multiple geographies. This will “require new skill sets within the Treasury function,” says a director of finance in the study, attuned to the greater complexities of cross-border finance.
To make faster decisions on a global scale, Treasury functions also need enhanced banking relationships, and upgraded banking technology that allows real-time access to multiple accounts on a consolidated basis. More than ever companies, are looking to “cloud”-based banking as necessary to increase visibility into their financial position and to forge better partnerships and communications with their banks.
Read more about the study in the July edition of CFO magazine available online at http://www.cfo.com.
For Further Information:
CFO Research is the research group at CFO Publishing LLC, a portfolio company of Seguin Partners that is the leading business-to-business media brand focused on the information needs of senior finance executives. Delivering content through multiple channels including online, digital, mobile, and print, the business consists of CFO magazine, CFO.com, CFO Research, CFO Learning and CFO Conferences. CFO’s award-winning editorial content and loyal, influential audience make it a valued resource for its readers as well as an effective marketing partner for a wide range of blue-chip companies. CFO has long-standing relationships with nearly a million finance executives.
About SAP
SAP is at the center of today’s technology revolution, developing innovations that not only help businesses run like never before, but also improve the lives of people everywhere. As the market leader in enterprise application software, SAP helps companies of all sizes and industries run better. From back office to boardroom, warehouse to storefront, desktop to mobile device – SAP empowers people and organizations to work together more efficiently and use business insight more effectively to stay ahead of the competition. SAP applications and services enable more than 238,000 customers to operate profitably, adapt continuously, and grow sustainably.
About SAP in Financial Services
Financial Services is currently the fastest-growing industry segment for the company, driven by transformative innovations in the areas of big data, advanced analytics, mobility, business networks and core applications. From Banking to Insurance, SAP helps leading organizations around the world become more customer-centric across all channels, significantly reduce cost and complexity, and more easily manage regulatory and risk compliance. For more information, visit http://www.sap.com/banking or blogs.sap.com/banking.
David Owens, CFO Research, http://www.cfo.com/research, 617-790-3280, [email protected]
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