More NewsOpportunities Exist for Banks and Vendors While European Treasurers Embrace Best Practices

Opportunities Exist for Banks and Vendors While European Treasurers Embrace Best Practices

In response to a dynamic global economy, European corporate treasurers are focusing on risk management, liquidity management, and technology according to the 2008 Global Corporate Treasury & Liquidity Research program, which was conducted by Treasury Strategies. “A basic foundation of treasury best practices is critical to maintaining an effective treasury department,” said Mike Gallanis, a Partner at Treasury Strategies and leader of the firm’s corporate consulting practice. “By focusing on risk management, liquidity management, and technology, European Treasurers are embracing the key tenets of such a foundation.” As they establish best practices, one-third of European Treasurers are re-engineering their cash management structures. Opportunities also exist for technology solution providers to assist treasury departments by automating many core functions. Technology adoption in Europe remains fragmented. “Only 36% of corporates use a treasury management system (TMS) and 32% use an ERP module of a TMS,” said Lindsey. “As economic and environmental challenges increase, many Treasurers will turn further to technology to improve efficiency and mitigate risk.” The 2008 research programme covers treasury management practices, staffing, use of treasury technology, and key issues facing the Treasurers at 970 corporations across Asia-Pacific, North America, and Western Europe.

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