Welcome to the summer issue of the Middle East Treasurer. One of the good things about summer (other than the possibility of going on holiday) is that it is usually a time when the business world slows down a little. Key decision makers are often away and projects may be delayed until the autumn. Suddenly, there is a little more breathing space in the office.
So, as a treasurer based in the Middle East, this could be a good time for you to reflect on your achievements over the past year. Is there a particular deal that stands out in your mind – a significant refinancing package, for example, or a clever cash pooling arrangement? Have you implemented a new treasury management system at your organisation with impressive results?
If so, please celebrate what you’ve done by entering our ACT Middle East Deals of the Year Awards. For more information, see page 5.
This period may also be an opportunity for you to review your treasury’s efficiency. Is now the time to hire a new member to the team or to invest in improving systems and processes? If systems are your priority, please take a look at our article on automation by SWIFT, on page 10, and our analysis of a survey that the ACT conducted with cloud- ased treasury expert Kyriba, on page 20.
Treasurers play an increasingly important role in the strategic decision making of their organisations, although this is not always well recognised. Hence we take a look at how good relationships with banks can free up treasurers’ time to focus on more strategic activities, on page 14. We also review the results of the ACT Corporate Treasurer Survey, on page 22. This important research was a comprehensive survey of members’ attitudes towards the evolving influence of treasurers on corporate strategy and business growth, carried out earlier this year.
I hope you enjoy the issue – and the summer!