WASHINGTON, DC –– As the economy recovers and multinational corporations shift their focus to expansion, corporate treasurers are directing their attention to the development of optimal bank relationships. As a result, the Association for Financial Professionals (AFP) has launched its first survey on the critical topic of bank relationship management.
The AFP Treasury Benchmarking Program, now in its fourth year, is an ongoing initiative to understand the trends that affect corporate treasury departments and to identify the practices that allow the best departments to succeed. The 2011 program represents a partnership between AFP and IBM and is being generously underwritten by PNC Bank.
The 2011 survey takes a new direction by focusing on bank relationship management, a topic raised in peer-to-peer discussions that have been taking place within AFP's Corporate Treasurers Council, a group of senior level corporate practitioners. This topic is a departure from the previous three AFP Treasury Benchmarking Surveys, where the focus was on organizational benchmarks, such as costs, technology and headcount.
"Our own proprietary client research identified a critical need for benchmarking data to enhance financial decisions. By supporting the AFP with its benchmarking survey, we seek to continue PNC's proven track record of helping our clients and other financial executives to achieve their business goals," said James Graham, executive vice president of treasury management, PNC.
The 2011 survey consists of 42 questions ranging from the number of banks that organizations work with, the criteria they use to select banks and the methods they employ to evaluate the value of those relationships.
"In today's economic environment, financial professionals have had to play even closer attention to the way they manage their banking relationships," said Jim Kaitz, AFP's president and CEO. "In the ideal relationship, the corporate and the bank function as partners."
AFP has tapped its 16,000 strong membership, sending surveys to a representative group. Survey participants may receive a customized report comparing their responses to those of their peers. In addition, AFP, IBM and PNC will release an executive summary report later this year, featuring key survey findings and analysis of this year's research.
The survey is currently in the field and runs through April 30.
For further information about the AFP Treasury Benchmarking Program and instructions for participating in this year's survey, see www.afponline.org/benchmark
The Association for Financial Professionals (www.afponline.org ) is the daily resource for the finance profession. Headquartered outside Washington, DC, AFP serves a network of more than 16,000 members with news, economic research and data, treasury certification programs, networking events, financial analytical tools, training, and public policy representation to legislators and regulators.
AFP’s global reach extends to over 150,000 treasury and financial professionals worldwide, including AFP of Canada; London-based gtnews, an on-line resource for the treasury and finance community; and bobsguide, a financial IT solutions network.