Nowadays, market developments are so fast that treasury departments cannot lag behind. The volatilities in the financial markets, regulatory requirements, technological developments and new business models all call for changes in finance and treasury management.
To achieve this, structures, processes, plans and strategies need to be re-examined. This in turn requires an in-depth understanding of objectives and methodologies, IT solutions, reporting, accounting and regulations, not to mention tax and legal expertise.
In some cases, a complete redesign of the treasury department may make more sense than simply performing minor adjustments. Nevertheless, taking a holistic look at accounting principles, regulations, controlling matters, IT strategies as well as legal, tax and staff issues, might be needed. If this is done well, challenges translate into opportunities and create a Treasury Department that is much more proactive and adds value to the company.
