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AFP Press Release

Survey: Treasury Automation Speeds Cash Management Processes

Partners AFP, IBM and Deutsche Bank Release Treasury Benchmarking Survey for North America, Europe

Bethesda, Maryland. (October 1, 2009) - Deploying automated systems can reduce cycle times and staffing requirements, especially for cash management activities, according to the 2009 AFP Treasury Benchmarking Survey.

The Association for Financial Professionals (AFP) conducted its second annual benchmarking survey this spring to provide data points of reference that financial professionals can use to compare the performance of their organization's treasury operation to that of their peers and top performers. Thanks to the positive response to the inaugural survey, AFP, IBM and Deutsche Bank collaborated again for the 2009 AFP Benchmarking Survey, which expanded to include corporates based in Europe. This year's participants included members of AFP as well as subscribers to London-based gtnews, an AFP company and on-line resource for the treasury and finance community, doubling respondents to this year's survey to more than 800 organizations.

Marilyn Spearing, Head of Trade Finance and Cash Management Corporates, Global Transaction Banking, Deutsche Bank, said, "Deutsche Bank is pleased to support the further expansion of this important peer group survey. We received very favorable responses from those U.S. corporates who participated in the initial survey that we looked to obtain this data on a cross-regional level. The theme of this year's survey, 'Optimal Delivery of Treasury Services,' is particularly timely as treasurers in today's market are seeking opportunities to compare the performance of organizations' treasury operations against those of their peers.

The Bank will leverage these survey results to help our clients deliver 'best in class' treasury and cash management services in the most efficient manner worldwide." The 2009 report, which explores the impact of treasury systems and service delivery models on critical treasury processes, presents performance levels achieved by the survey participants, defines top performing (80th percentile) benchmark targets, analyzes performance levels by peer groups and provides a basis of comparison that organizations can use to identify performance gaps and evaluate opportunities for improvement.

Financial professionals will hear aggregate results of the study at the 2009 AFP Annual Conference in San Francisco from October 4-7.

The 34-page public report highlights important treasury operational issues that have a direct impact on today's organizations and provides an outline of the key implications for optimizing treasury operations. It supplements the customized peer reports that participating organizations received.

The 2009 study focuses on the delivery of treasury services and evaluates the impact of the decision to centralize, decentralize, or outsource treasury operations based on cost, staffing and performance. The study also examines the effects of automating key treasury processes, and concludes that automating treasury processes often leads to demonstrable improvements in staffing levels and cycle times, especially in areas related to cash management.

Additional key findings include:
Treasury Costs - The smaller the organization, the more intensive the investment is for treasury operations relative to revenue. Also, the financial services industry tends to incur the highest level of FTEs and costs. This is likely due to the regulatory requirements and strategic emphasis on cash management. In other words, financial services organizations view treasury as a competitive differentiator.

Full-Time Treasury Equivalents - The smaller the organization, the more FTEs are required to conduct treasury operations relative to revenue. The financial services industry tends to employ higher FTE levels.

Treasury Cycle Times - With a few exceptions, size is not a significant predictor of cycle time, suggesting that size does indicate overall complexity when other factors are constant. Financial services tend to have lower average and benchmark cycle times than those of other industry groups.

Complete survey results will be available on www.afponline.org/benchmark 

About AFP®
The Association for Financial Professionals (AFP) serves a network of more than 16,000 treasury and finance professionals. Headquartered in Bethesda, Maryland, AFP provides members with 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, gtnews, an on-line resource for the treasury and finance community, and the London-based bobsguide, a financial IT solutions network.

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 78,896 employees in 72 countries, Deutsche Bank offers unparalleled financial services throughout the world. The bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people.

About IBM®
For more information on IBM, visit www.ibm.com 


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