Washington, DC - March 4, 2009 - The Association for Financial Professionals (AFP), in conjunction with IBM and Deutsche Bank, this week launched the 2009 AFP Treasury Benchmarking Survey to identify best practices in treasury in corporations across the United States and Europe.
AFP released its first in a series of annual benchmarking surveys last year, assessing the performance of treasury operations of corporations in North America against those of their peers. This year, data is being collected in Europe as well as the U.S., and the results will be distributed in both regions. IBM will lead the data collection and analysis, while Deutsche Bank is providing financial support and guidance for the project.
According to Jim Kaitz, President and CEO of AFP, "The AFP Benchmarking Survey examines the most critical aspects of effective treasury management and gives treasurers a valuable analytical tool for improving operations. The survey results provide treasury professionals key measures for comparing business entities' performance, pinpointing performance gaps, and evaluating improvement opportunities at a strategic level. With the expansion to European treasury operations, the benchmarking survey will now be a global tool."
Corporate financial professionals from AFP's membership and AFP's London-based gtnews' readers may participate in the study at no cost. Over the summer, each of the participants will receive benchmarking reports comparing their companies' treasury operations with those of their relevant peer group, as well as with all other study participants. The benchmark reports will allow participants to identify opportunities to immediately improve the efficiency of their treasury operations. The reports will also analyze treasury service delivery trends, technology utilization, automation benefits and gaps, cycle times, centralized versus decentralized treasury operations, outsourcing, and other treasury operational issues.
Aggregate results of the study will be presented at the 2009 AFP Annual Conference in San Francisco from October 4-7, 2009.
"The 2009 study will continue to build upon last year's survey which showed that treasury professionals need effective tools to develop operational efficiencies," said William Fuessler, Global Leader, Financial Management, IBM Global Business Services. "In this new economic environment, successful businesses will capture value by acting quickly and decisively. Combining predictive analytics and services, IBM is helping finance professionals better understand and manage their cash flow."
Marilyn Spearing, Head of Trade Finance and Cash Management Corporates, Global Transaction Banking, Deutsche Bank, said, "Last year's benchmarking survey in the U.S. received such a positive response from those corporates who participated that we, as a leading global player, now require this data on a cross-regional level. This expanded benchmarking survey will lead to improved treasury operations for our clients. Additionally, these results will help us with our ongoing efforts to offer 'best in class' services on a worldwide level."
To learn more about the 2009 AFP Treasury Benchmarking Survey, please go to www.afponline.org/benchmarking.
The Association for Financial Professionals (AFP) serves a network of more than 16,000 treasury and finance professionals. Headquartered in Bethesda, MD, AFP provides members with breaking news, economic research and data on the evolving world of treasury and finance, as well as world-class treasury certification programs, networking events, financial analytical tools, training, and public policy representation to legislators and regulators. AFP is the daily resource for treasury and finance professionals.
AFP's global reach extends to over 150,000 treasury and financial professionals worldwide, including AFP of Canada; AFP's gtnews, an on-line resource for the treasury and finance community; and the London-based bobsguide, a financial IT solutions network.
About AFP's gtnews
Based in London, the Association for Financial Professionals' gtnews is a major global knowledge resource for over 60,000 treasury, finance, payments and cash management professionals. Online, AFP's gtnews is updated weekly and provides subscribers access to an archive of almost 3,000 global treasury articles in addition to special reports, commentaries, surveys, polls, news, ratings updates and whitepapers. As part of AFP's global network, AFP's gtnews editors encourage experts to share their knowledge on key issues facing treasury and financial professionals including changes in regulations, technology and the pursuit of internal efficiencies.
For more information on IBM, visit www.ibm.com.
About Deutsche Bank
Deutsche Bank is a leading global investment bank with a strong and profitable private clients franchise. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. With 80,456 employees in 72 countries, Deutsche Bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people.