There is a common theme which emerges as I meet more and more treasurers, and more and more of our external stakeholders, inside and outside the UK... a lack of understanding of the role of treasury. This is particularly true in those organisations who are not large enough to have a full-blown treasury function, or who have grown and never really understood the need for specific treasury expertise.
In the UK it seems a challenge for SMEs, and where I recently visited, in the Middle East, it is a potential issue for the many family-owned businesses. This may be nothing new to you. But I wonder how best to tackle it?
As the ACT’s Chief Executive, I am coming from the position which says that the voice of treasury is critical in business, and I am therefore passionate about advocating for treasury skills to be present in all businesses, in some form or other. And I know we as a membership body can help – whether providing courses tailored to those who have to carry out treasury activities, but are not treasurers, to organisations who ideally need to form a team of specialists due to their size and nature. However, the challenge is how to get the message across without seeming a hard sell? In fact, the ACT is a not-for-profit, and our purpose is to be the voice of treasury for good. Our Royal Charter means we are committed to public benefit – so it is not all about the hard sell and making profits.
If you are reading this, you are likely to be an advocate for treasury – but what is your experience of others?
When I was a CFO I was always a treasury ‘fan’, so did not need any persuading. But I am told it is not always the case. So how do we get our voice out there?
The ACT is a small organisation, but through its membership and stakeholders makes a real impact. So, if the entire readership of this blog were to each take on a challenge to:
That would create far more awareness than the ACT can do alone!
Let me have your feedback… and we will be happy to provide an elevator pitch or some materials to help you meet this challenge!
Here's a couple of snapshots from my recent trip to Abu Dhabi where we've been busy raising the profile of treasury. Hope to catch up with many more of you at the ACT Annual Conference next week!
