New Level of Cooperation Between Corporate Treasuries Revealed
With more factors forcing organisations to change, corporate treasuries are increasingly cooperating to benefit from globalisation and critical mass, according to a survey conducted by Nordic Financial Systems. The survey was carried out in response to the growing demand by corporate treasurers to develop and maintain areas of the operations internally, in order to help the treasury expand globally. Magnus Lind, CEO at NFS, explained: ‘The survey highlights the enormous change the corporate treasury industry is currently experiencing. Information technology has reached a level of standardisation and maturity and is expected to play the role of facilitator in the organisational change of corporate treasuries.’ The survey revealed three key findings; that corporate treasuries are cooperating to benefit from increased efficiency and reduced costs; that there is no single solution for corporate treasuries faced with organisational change; and that banks are reluctant to only supply funding. The study also found that treasuries find they have more synergies with each other than they do with other group functions within their own organisations.