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Treasury

Treasury teams now central to corporate decision-making

The coronavirus crisis may have stretched the resources of corporate treasury teams, but it has also reinforced – and enhanced – their status within their own organizations.

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Treasury departments have boosted their standing in the corporate world during the Covid-19 pandemic by stepping up to provide liquidity, manage risk and help stabilize supply chains since the first quarter of 2020.

This is one conclusion from the latest Journeys to Treasury partnership report, the result of collaboration between BNP Paribas, PwC, SAP and the European Association of Corporate Treasurers (EACT).

Naresh Aggarwal, associate director policy and technical at EACT, notes that treasurers have been involved in high-level strategy conversations around whether or not businesses may be sold or closed down, as well as possible acquisitions.

[Treasurers] have become payment gatekeepers
Naresh Aggarwal, EACT
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“They will have increased their profile across the business as well as at C-suite level, as they have worked with individual teams such as procurement, sales and HR to help them build useful cash-flow forecasts,” he says.

“These teams now have a better idea of the role of the treasurer.”

Treasurers have also made senior management aware of the importance of having full cash visibility across the organization. For some, it has become of strategic importance to invest in the right technology to achieve this goal, mainly via treasury management systems, but also cash-flow forecasting solutions.

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