The treasury committee is often the cornerstone of any business because disciplines within finance have many stakeholders and affect a variety of other functions. Today, a treasurer is increasingly expected to be a communicator across an organisation. Doesnít that fact alone highlight the need for a treasury committee?
Next generation treasury functions will work in real-time, with highly integrated, automated systems. Treasury teams will leverage intelligent tools; data will power forward-looking decision-making; and manual legwork will give way to strategic thinking. But how can treasurers deploy innovations associated with the Fourth Industrial Revolution, also known as Industry 4.0, to work towards this vision of Treasury 4.0?
In any industry, the selection process is a task that requires a careful and considered approach. The necessity to hire the right person is made even more pertinent within corporate treasury, due to the comparatively small size of most treasury teams. A focus on formal succession planning allows organisations to not only prepare themselves for future staff fluctuations but encourages participation from individual employees.