By Rich Bond
Many CFOs have established themselves as “strategic business partners” to senior management in terms of the actionable information they provide.
But what about the groups reporting to the CFO, such as treasury? Can they, too, act as strategic advisors?
A survey conducted by CFO Research and Kyriba revealed that 75% of CFOs do not think their treasury departments are operating at a high, strategic level.
In my experience, that’s because many treasury groups are largely “back-office bookkeepers,” recording what happened without providing any significant recommendations to improve what can happen.
Although the treasury group makes up a tiny proportion of a corporation, it can have a grossly disproportionate effect on profitability and cash flow.
With a treasury transformation, that effect can be even larger. Here’s an example from a white paper I published: “8 Things Strategic Treasurers Are Doing to Avoid Back Office Oblivion”
What is your treasury group doing for you and your company? Let’s talk.
In the meantime, I hope you’ll read my white paper. Here’s a link: https://bondandcompany.com/resource/8-things-strategic-treasurers-are-doing/