Le magazine du trésorier - n°71 - 3ème trimestre 2010 - (Page 16)
Don’t waste a good crisis
A far-reaching new global survey examines the impact of the financial crisis on treasury teams and how it is set to shape their future priorities.
As treasurers grappled with the funding squeeze, counterparty uncertainties and commodity price volatility emanating from the financial crisis, the past two years have been the toughest in many if not most of their careers. At the beginning of 2010, a team from PricewaterhouseCoopers carried out an in-depth survey of nearly 600 treasurers from around the world, which looked at how the profession responded to the challenges thrown up by the crisis and what lessons can be drawn from the experience (http://www.pwc.com/ be/en/finance-treasury/treasury-survey-PwC-2010.jhtml). The participants were chosen to provide the broadest possible cross section of sectors, geographies and company sizes. As the findings highlight, treasury teams are emerging from the turmoil with renewed recognition. Nearly 80% of survey participants believe that their key role in managing the impact of the crisis has earned them greater attention from their boards and more than 60% see it as reinforcing their reputation for adding value within the business (see chart one).However,less
than 20% have been able to capitalise on their enhanced profile by securing an increase in their budget. Extra resources will be critical. One of the clearest lessons of the crisis is that where treasury best practice was applied in areas ranging from financial risk management to securing sources of finance, treasurers were better able to manage the impact. However, most treasury teams are still relatively small and under-funded and therefore few have been able to institute best practice across the board.
Looking ahead, participants see enabling the business to manage risk more effectively as their main opportunity to add value over the next five years, with most looking to work more closely with commercial teams. However, providing the business with more effective advice and support will require additional resources. This includes investment in analytical systems and the people to run them, as well as extra funding for the automation needed to improve process efficiency and hence free up more treasury time to work with the business.
CHART ONE : WHAT DID THE CRISIS DO FOR YOU?
Board’s a en on
Treasury seen as adding value
Business units interest
Treasury Budget 0% 20% Increased 40% 60% 80% 100%
Remained the same
Table des matières de la publication Le magazine du trésorier - n°71 - 3ème trimestre 2010
- Euro en crise ou maladie de jeunesse ?
- M. Marco Pescarolo, Trésorier du Groupe Ferrero Bekkari
- The Bank Balance Score Card or How to Rate your Banks
- Performances relatives ou absolues
- Don't waste a good crisis
- L'évolution de la fonction fiscale
FORUM OF ADVERTISERS
- Après la réduction des coûts, l'optimisation des revenus
- La démarche « Creditoring »
- 15 minutes with… Hamburg-Mannheimer
- Green Finance : Rethinking Finance, introducing the carbon neutral CFO
Le magazine du trésorier - n°71 - 3ème trimestre 2010