How Corporate Treasury Can Gain Influence in 2023

By Rich Bond

Treasury & Risk provides some good content, as far as it goes. Take their current lead article, Treasury’s Priorities for Hiring and Staff Development: 2023 and Beyond, written by the T&R staff, highlighting findings from Deloitte’s “2022 Global Treasury Survey,” released in November:

With interest rates at 15-year highs, it should surprise no one that the #1 treasury priority for 2023 will be liquidity management with increased emphasis on cash forecasting and “optimizing the organization’s capital structure.” I am definitely seeing a demand for people with quantified accomplishments in these areas.

But what the article should say is that companies want and need more accurate forecasts, delivered more quickly, along with recommendations about how to free up working capital.

Most of the resumes I see are a listing of functional responsibilities, which are just a bunch of words. Companies want to hire people whose actions have led to accomplishments – where the individual has added real value to the organization.

Unfortunately, too many treasury people largely perform a “bookkeeping” role. The article says companies don’t want to focus on the “nuts and bolts.” Rather the CFO desires treasury to be a “strategic partner” to management, which requires actionable recommendations.

Treasury has the opportunity gain influence in companies today. To do this, treasury needs to be more “action” oriented and support growth.

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