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Text Content

This website stores cookies on your computer. These cookies are used to collect
information about how you interact with our website and allow us to remember
you. We use this information in order to improve and customize your browsing
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and other media. To find out more about the cookies we use, see our Privacy
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 * SOLUTIONS
   * Procurement
     * E-sourcing
   * Trading and risk
     * CTRM / ETRM
   * Supply chain
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     * Reconciliation
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“CFO Research (part of Argyle Advisory and Research Services) and Grant Thornton
surveyed 631 & 174 CFOs/ senior finance executives respectively, in Feb and May
2020, to gauge the effects of the COVID-19 upheaval. In Feb 2020, the survey
respondents reported that they as CFO, divided their time relatively equally
amongst devising strategy, being a change agent and standardizing automation &
compliance. But by May 2020, that balance had shifted majorly towards crafting
corporate strategy and architecting business value, in response to Covid-19
crisis.”

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 2. Blogs
 3. Re-evaluating treasury – role, skills and priorities in the re-defined CFO’s
    office




RE-EVALUATING TREASURY – ROLE, SKILLS AND PRIORITIES IN THE RE-DEFINED CFO’S
OFFICE




To the CFO,

The last two decades, especially the post-pandemic world, has witnessed you
being busier than ever with a massive shift in priorities.

“CFO Research (part of Argyle Advisory and Research Services) and Grant Thornton
surveyed 631 & 174 CFOs/ senior finance executives respectively, in Feb and May
2020, to gauge the effects of the COVID-19 upheaval. In Feb 2020, the survey
respondents reported that they as CFO, divided their time relatively equally
amongst devising strategy, being a change agent and standardizing automation &
compliance. But by May 2020, that balance had shifted majorly towards crafting
corporate strategy and architecting business value, in response to Covid-19
crisis.”

Unanimously agreed, the pandemic was a huge wake-up call. You might be left
wondering how to give a revised focus to your teams, especially treasury since
it is fundamental to the organizations’ financial health. Your Treasury
department assumes all the more significance since your role as the CFO and that
of your treasurer though unarguably distinct are still quite linked, overlapping
in a no. of areas.

But was it always so? Not really. The erstwhile treasurer’s role was limited to
a standalone operational support function, responsible for paying bills and
handling petty cash of the business. The role gradually expanded to cash and
risk management, especially foreign exchange and interest rates. These times are
long gone now.


TREASURER’S EVOLVED ROLE



Global business volatility and changing regulatory landscape in the wake of 2008
financial crisis and pandemic have set treasurers on a new path. Their enhanced
role has become more critical and will be progressively ingrained in strategy –
not only conceptualizing and developing it but also educating the Board of
Directors about complex treasury terms in simple business language.

The treasurers will be further expected to play a pivotal role in providing
strategic decision making support in a) mergers and acquisitions (M&A) activity
and b) business continuity plan during the ensuing crisis – leading to creation
of significant business value.

As a CFO, you would agree wholeheartedly that it’s an increasingly difficult
time to be a treasurer. Nonetheless, successfully navigating the organization
through tough challenges is precisely what would earn the treasurer a true ‘seat
at the table’.

Now, it goes without saying that the new role would require a set of improved
skills and a refocus on priorities, with relationship building and strategy at
the core of it.


AS PER 2020 AFP STRATEGIC ROLE OF TREASURY SURVEY REPORT

the critical skills required for treasury during the next 3 years would be





TREASURER OF TOMORROW: FROM THE CFO’S EYE


 * Good Communicator
 * Ability to collaborate with the entire spectrum of stakeholders
 * Strategic thinker and planner
 * Relationship building capability with the CFO and Board of Directors
 * Adaptability to changing environment
 * Ability to embrace new technology towards creating a better ecosystem


REFOCUSED PRIORITIES FOR TREASURER



Liquidity management was the treasurer’s key agenda during Covid-19 with cash
reserves drying up and significant challenges being faced by organizations. In
the post-pandemic period, there is still an increased urgency around improving
liquidity planning and management.

Treasury centralization and process/Technology-led-unification: Historically, a
decentralized treasury structure had been widely used in emerging economies like
Asia. However, with treasurer’s evolved role, centralization of treasury has
become the new mandate. Arguably, there is no one-way approach to achieving
phased centralization, usually starting from the unification of critical
treasury processes and technology.

The need of the hour is a unified system for treasurers that automates and
connects together their multiple tasks – cash, liquidity, working capital, risk
and supply chain finance management, compliance & regulatory reporting and daily
reconciliation. Undoubtedly, the advent of disruptive treasury technology has
offered treasurers the opportunity to embrace their new roles. It has played a
pivotal part in helping them strengthen their liquidity/risk management
strategies by offering a 360 degrees’ visibility into cash facilitating accurate
forecasting, robust risk/working capital management & integrated supply chain
funding.


HOW TREASURES CAN RETAIN A SEAT AT THE TABLE?



Treasury function and treasurers have assumed greater significance during
Covid-19. In order to retain their seat at the table, it’s important for
treasurers to truly be instrumental in helping their organizations recover in
the post pandemic world.  They need to invest in actively shaping the future of
not only the various interconnected functions but the organization as a whole.

Contact Us
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OTHER RESOURCES



NEW TECHNOLOGIES: IMPACT ON TREASURY AND RISK MANAGEMENT



Technology advances are impacting all aspects of our business lives and
processes. The changes are legion and include such things as: expansion of
cloud-native technologies, advantages of low-code platforms, integrated BI
solution sets, and open treasury/risk platforms.

Read more

LEVERAGING DASHBOARDS, ANALYTICS AND REPORTING TO OPTIMIZE CASH MANAGEMENT



Information that does not impact decisions is just that, information. Analytics
and reporting that impact decisions deliver treasury intelligence.

Read more

NEW TECHNOLOGIES: IMPACT ON TREASURY AND RISK MANAGEMENT



Technology advances are impacting all aspects of our business lives and
processes. The changes are legion and include such things as: expansion of
cloud-native technologies, advantages of low-code platforms, integrated BI
solution sets, and open treasury/risk platforms.

Read more

LEVERAGING DASHBOARDS, ANALYTICS AND REPORTING TO OPTIMIZE CASH MANAGEMENT



Information that does not impact decisions is just that, information. Analytics
and reporting that impact decisions deliver treasury intelligence.

Read more
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SEE EKA IN ACTION, GET IN TOUCH WITH US TODAY FOR A LIVE DEMO


Contact Us

--------------------------------------------------------------------------------

SOLUTIONS



Procurement
E-sourcing

Trading and risk
CTRM / ETRM

Supply chain
Stockyard management
Warehouse management

Sustainability
Sustainability reporting

Treasury
Treasury management
Risk and compliance
Reconciliation

--------------------------------------------------------------------------------

Industries
Agriculture
Energy
Manufacturing
Metals and mining

PLATFORM



Platform
Analytics
Integration
Security

--------------------------------------------------------------------------------

App store

COMPANY



About Eka
Why Eka
Awards
Board of directors
Careers
Partners

CUSTOMER SUCCESS



Customers
Implementation success
Support
Training

RESOURCES



All resources
App sheets
Blogs
Brochures
Case studies
E-books
Events
News
Webinars
Whitepapers

CONSIDERING EKA?



Get started, contact us on: info@eka1.com

--------------------------------------------------------------------------------

24/7 SUPPORT FOR CLOUD CUSTOMERS



itcloudsupport@eka1.com
+91 80 4081 9404

© 2022 Eka. All rights reserved. Privacy policy | Cookie Policy | CSR | Annual
returns





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