Geared towards the executive membership of AFP, Executive Guides take an in-depth look at specified topics that are developed via interviews with treasury executives. They are presented as studies, with practical applications and tools such as models and checklists.

A Treasurer’s Guide to Centralization

Underwritten by Standard Chartered

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In the 2022 AFP Executive Guide: A Treasurer’s Guide to Centralization, find illustrative case studies to help understand cost control, operational efficiency and treasury digitalization leading to the main takeaways: a three-step route to optimization.

What have treasurers learned in the past two years as the global economy emerges from the pandemic? Understanding the changing business drivers, how to control costs in a changing environment, optimizing business processes, and treasury digitalization.  

Circumstances matter – no company makes decisions in isolation; context is everything and it is no different when treasury practitioners seek to optimize their operations.  
 
This guide deep dives into the three elements that affect an organization’s context: 

  1. Their level of maturity
  2. Their geographic presence
  3. Their business environment

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Understanding the Changing Business Drivers 

Of all the impacts of the coronavirus pandemic, for treasury and finance, two in particular stand out: 

  • To continue operating during periods of lockdown or curfew, most organizations had to facilitate some form of remote working for their finance and treasury teams.
  • In the initial phase of the pandemic, most companies tightened their focus on cash, as supply chain uncertainties and consumer demand put pressure on existing forecasts.

    • Download the Guide to see what companies are planning to do moving forward. 

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    Controlling Costs in a Changing Environment

    Along with all business departments, treasury remains under pressure to control its costs. There are three different approaches treasury practitioners can use to identify ways to reduce and control operational costs. 

    1. Review Existing processes
    2. Revise processes to reduce operational risk
    3. Take advantage of new innovation
    Download the full Executive Guide to learn more about of these approaches and to see accompanying case studies. 

    Optimizing Operational Processes 

    To achieve wider efficiencies, treasury departments may need to review a wider set of processes with a view to achieving optimization. From a treasury perspective, any project should be designed to achieve one or more of the following objectives: 

  • Improve visibility over cash and risk
  • Manage liquidity efficiently
  • Manage the supply change more efficiently 
  • Support the business as a whole

    • View the full Guide to learn more about optimizing your operational process.

    Takeaways: A Three Step-Route to Optimization 

    The challenge for treasury is to prioritize the problems that need solving in a way that does not make solving future problems more difficult. The following framework should help: 

    1. Tactical improvements: What opportunities are there to reduce and control operational costs? 
    2. Strategic improvements: For wider improvements to processes and structures that will optimize operational efficiency. 
    3. Select the best project: A list of key questions to ask when making strategic changes.  
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    Published May 10, 2022