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No Excuses: Here’s How Treasury Can Operate Despite Disaster

  • By Andrew Deichler
  • Published: 3/22/2016
bcpHere’s a nightmare scenario for treasurers: What would you do if your office was destroyed? How would you make payroll? How would you pay vendors?

Disaster can strike at any time. In today’s ever-changing world, extreme weather, power outages, cyber events and other incidents can severely disrupt operations. That’s why it is essential for corporates to have a business continuity plan in place. And since the treasury function is at the forefront of a company’s money, there may be no better department to be a leader in this area.

Unfortunately, business continuity planning simply isn’t a high priority for many treasury departments, and that can no longer be the case. Oftentimes, there are payments that need to be made, and they can’t wait for the office to reopen. Treasury needs to have a plan in place for it to do its job even when the office is inaccessible.

AFP’s new Treasury in Practice Guide, Business Continuity Planning: Why Treasury Needs a Plan B, underwritten by Kyriba, features interviews with corporate treasurers and other experts on how treasury departments can implement successful business continuity plans. As treasury’s role has grown over the past decade, the treasury function has gained more of a voice across the organization, working frequently with other departments. Although business continuity planning is not, and should not be, the sole responsibility of treasury, it is an area where treasury can truly make an impact.

AFP’s new Treasury in Practice Guide provides practitioners with key insights that will help them improve their company’s policies. So the next time disaster strikes, you’ll be ready.

Download Business Continuity Planning: Why Treasury Needs a Plan B here.

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