The Role of the Treasurer in Terms of Maximizing Peak Operating Efficiency

Redefining, pursuing and realizing the company's strategic advantages
Providing the best decision-making tools to successfully manage the entire operation
Optimizing the use of corporate cash, not just in terms of bank accounts allocation, but also its flow throughout corporate processes
Connecting disparate systems into one to achieve a lean, accurate and cost-efficient operation

*The Day-to-Day Role of the Treasurer*
1.	Daily cash management	Maintaining the financial solvency of the corporation. Daily visibility of all group-wide bank accounts (this includes online shops).
2.	Financial risk management - Currency risks - Interest rate risks - Fraud (external and internal)	Recognizing short and medium-term risks in both currencies and interest rates. Being prepared for fraudulent transactions and raising suspicion
3.	Capital market transactions	Financing the group with liquidity and/or doing more with the available liquidity
4.	Operational tasks	Combining commitment and leadership with team spirit
*Recurring Role of the Treasurer*
5.	Liquidity management and forecasting	Planning the group liquidity; communicating and foreseeing gaps once a month
6.	Handling of financial guarantees	If at all, guarantees are huge amount of manual work. Coordinate and standardize preferably according to UDRG 758 rules
7.	Payment processes	Payments are recurring, structured, standardized and do only allow manual payment in exceptional cases. Online shops may have payments of 1.000 daily transactions. Smooth automation is part of Treasury
8.	Standardizing processes continuously	If a manual process starts and is recognized as recurring, look for process-optimizing systems. Excel sheets are the exception
Strategic Role of the Treasurer
9.	Management of bank relationships	Keep bank partners in strategic groups worldwide. Keep bank relations at Headquarter level. Divide and share.
10.	Comprehensive tax- and optimization of all group-internal finances and cash flows	Intercompany short- medium, long-term financing and dividends are often based on local regulations and government. Be ready to receive advice and act strategically
11.	Implementation of new financial products just in time	Stay up to date on financial products and check if they are suitable for the group. Make sure products are kept simple and straightforward. A financial product that does not fit on one page may be useless.
12.	Treasury policy	Protect Treasury, the CFO and accounting from risks with treasury guidance manuals such as treasury policies
*IT Affinity as a Role of the Treasurer*
13.	Eliminating manual transactions in account payables, account receivables - this includes web shops (auto-reconcile), from CRM to ERP guarantees, etc.	The treasurer must eliminate the need for manual payment processes wherever possible as they produce a high error rate, are costly and not scalable. Ideally, the results are time and cost savings from simplifications and automation.
14.	Web solutions	Online access to all relevant data for reporting and planning simplify and speed up liquidity planning, foreign exchange and bank credit management, netting and pooling.
15.	Business process	The execution of Internet and Intranet solutions for financial transactions via high-capacity treasury systems promises greater efficiency and cost reductions.
*Outsource*
16.	Evaluation if to Outsource	Drawback: Know-how may gets lost Outsource only recurring tasks such as liquidity planning, reporting, and standardized workflows The treasurer retains the responsibility for financing, hedging strategies etc. The outsourcing evaluation requires a detailed analysis by a specialist
*Evaluation if to Consolidate*
17.	Reinvoicing Center	Many companies consider centralizing payment processing and debit management in a subsidiary in the form of a Reinvoicing Center.
18.	Shared Service Center	If the reinvoicing center conducts additional operations such as financing, invoicing or other repetitive treasury activities, it becomes a Shared Service Center (SSC).
*Other Areas of Responsibility*
19.	Bank Relationships	Financing in international capital markets. Bank credits for operations management only. Facilitates longer term credits at lower cost. Banks aren’t the only source of financing
20.	Risk Management	The increased capital-market competency of companies requires in-depth understanding of company strategies and financial markets. In-depth understanding of public relations and information requirements to banks and/or rating agencies is important as these are often the treasurer's responsibility.
21.	Risk Management's Requirements to Comply with the Law	Requirements vary from country to country and change over time. Therefore, it is imperative that the treasurer obtains the latest information on requirements and ensures compliance.
*To Be Successful…*
22.	…a Treasurer Must	Understand the company's business model, including the tax and legal structure, customers and suppliers Develop creative solutions that maintain control and visibility over the cash that is generated and/or used in each department Maximize value to the organization by accelerating the flow in Account Receivables and Account Payables Learn how to leverage new technology Ensure that the entire team is thoroughly trained in using new technologies