Trésorier/Treasurer magazine - n°82 - July/Aug./Sept. 2013 - (Page 12)

ONLIN E www VERSION FOCUS Financial crisis a blessing in disguise? LE MAGAZINE DU TRESORIER / TREASURER MAGAZINE — N°82 — juLy / Aug. / sept. 2013 We have just lived through a difficult five years. Perhaps this could be the catalyst for positive changes. Surely during this period, in which companies are acquiring few new assets, through nerves or excessive caution, treasurers have a fantastic opportunity to conduct a radical review of their organisation and to set themselves new technical priorities to increase the efficiency and productivity of their departments. 12 Actions speak louder than words Five years of crisis have allowed treasury departments to reinvent themselves and to restructure to increase productivity, to streamline their operations and to contribute to the collective effort to keep down costs. Alongside this initiative, there has been an initiative on internal controls to streamline treasury operations, and to make them more secure. We could, of course, complain about the lack of new investment and its consequences. However, treasurers can take advantage of this tricky transition period to reinvent themselves and to restructure to contribute to the collective work of streamlining the business. The ACT is talking about «treasury 3.0», a sort of new upgraded version of the treasurer function, an advanced and final stage of development in a treasury department. Surely, at last, this is a golden opportunity to reinvent ourselves. Modern treasurers need to show flexibility, agility and inventiveness to best adapt to a shifting economic and regulatory environment. Treasurers have become more «strategic, in their roles and find themselves thrust to the forefront by the tide of events. The crisis is in fact a true catalyst which provides the opportunity to revisit procedures that date back to the ark and that have pretty much “ Modern treasurers need to show flexibility, agility and inventiveness to best adapt to a shifting economic and regulatory environment. ” been set in stone. It is also in times of difficulty that the most effective treasurers can be recognised. There are any number of challenges to be met, even without specific transactions such as M&A deals. Many of the challenges are structural, regulatory or technical in nature, or even derive from the economic climate. The challenges are interrelated, and treasurers find themselves facing many of them at the same time. They have to overcome them. But let us try to see the positive aspect of these challenges. Surely they are a fantastic opportunity to radically overhaul your organisation to achieve its quintessential purpose and to streamline it with a view to keeping down cost? Ways forward for streamlining and reorganising There are many ways forward for improvement and development. We have referred to some twenty of them. This, obviously, is not the full list. It is just an indication of things to think about and work that could

Table des matières de la publication Trésorier/Treasurer magazine - n°82 - July/Aug./Sept. 2013

Couverture
EDITORIAL
SOMMAIRE
FINANCIAL HIGHLIGHTS
INTERVIEW - Mr Jacques Lafitte, AVISA
FOCUS
FORUM OF ADVERTISERS
CORPORATE FINANCE
15 MINUTES WITH - Robert Franck - Directeur associé VISCONTI
NEWS
The Financial Risk Observatory

Trésorier/Treasurer magazine - n°82 - July/Aug./Sept. 2013