Presenters shared with more than 160 delegates their best practice approach to treasury structures,
such as cross-currency notional pooling and in-house banking. The conference programme also covered supply chain issues, shifts in the regulatory environment and cybercrime, plus an interactive session on deploying the technology we already have, as well as newer approaches coming on stream.
Delegates proved keenly interested in messages on cybercrime and security and we heard fascinating debate around the role of corporate treasury in relation to cybersecurity. Responsibility for cybersecurity may lie primarily with IT functions, but the message at Smart Cash was clear: treasurers need to ensure they stay on the front foot, keeping themselves informed about the current guises these
risks take.
A key feature of this conference every year is the quality of its audience and presentations, with practitioners talking to practitioners. This year, we sought to enhance that feature by including more interactivity within the conference programme. In a ‘Cash-athon’ session, audience members worked in small groups to sketch out their challenges and suggest the solutions – operational and technological – they could envisage working for them.
An imperative that came up repeatedly was the need to build structures capable of addressing those operational pain points that treasurers labour under, with cash-flow forecasting a case in point. Technology will undoubtedly play a huge part in improving the interaction between different parts of the business and treasury, and between the business and its banks, enhancing the cash flow of large corporates, increasing cash visibility and making efficient flows more achievable.
For me, what came out of those discussions was the importance of clear standards and greater transparency, and visibility in cash-flow management. There is work to be done, for sure – across corporates and their service providers, including banks – to enhance communication with the aim of improving the movement and visibility of cash around the business. Capitalising on the relationships we have and furthering the debates begun at Smart Cash will doubtless provide a great platform to take that ambition forward.
Richard Martin is managing director, head of payments & cash management, Barclays
