The need to be in control of cash has never been greater. This issue of Cash Management covers various angles of keeping cash and liquidity firmly under control. It is vital to have a proper strategic focus on liquidity and cash management and that strategy has to be followed up by sound policies to ensure delivery. Treasurers need to be able to see the funds they have in the business but poor visibility of cash resources has long been an issue for all companies, especially global groups. Processes and technology must be harnessed to locate the cash and these days treasurers should be in a position to ensure they make use of the latest sophisticated systems and processes.
Under the current credit conditions the need for good short-term cash forecasting is no longer a luxury, to be achieved only by a few; it is absolutely vital if companies are going to manage their working capital and help keep all-important supply chains up and running.
It is only too clear that the treasurer’s grasp of liquidity has never been under greater scrutiny by the rest of the business, but as this supplement makes clear there is no reason why treasurers cannot perform an excellent job, even in the most trying of circumstances.
PETER WILLIAMS
Editor