Efficiency is one of the central drivers for a successful treasury department in proving its value to the company – whether it's improving cash visibility, getting the most out of your supply chain, having the best available system or indeed making sure that the company’s cash isn't disappearing altogether.
This second edition of The Treasurer’s Cash Management supplement addresses all of these issues. With the credit crunch focusing attention on the importance of cash and liquidity, we take a timely look at the problems of late payments for companies of all sizes (p13).
Axel-Peter Ohse of Deutsche Bank assesses the progress made in financial supply chain management – something which should benefit all three elements of the chain, buyer, seller and the bank (p6).
Selecting the right system is a critical part of treasury's success and on p10 we take readers through the key elements of the selection process. Even with the best, state-of-the-art system, you have to be certain that the system is secure – John Bullard of IdenTrust examines what control systems should be in place (p10), emphasising some of the points made by Martin O'Donovan (p2) about having the right policies and procedures in place – an efficient fraudster can undo all your good work in an instant!
MIKE HENIGAN
Publisher