Going against the crowd (TT June03 p49-50)

It is not easy being a treasurer in today’s environment. On the one hand, there is the pressure to downsize, cut costs and achieve greater efficiencies in treasury to mitigate the general downturn in the economy. On the other, the role of corporate treasury is changing from a profit centre, making money on taking risks, to a new role as a service centre, focusing on adding value to the business, including its subsidiaries. Also, regulatory demands have dramatically increased during the last few years, prompting global control of all financial activities. The IT infrastructure, however, generally remains fragmented on a global basis.

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