Corporate treasury functions have long since outgrown their origins as cash management and liquidity specialists. Today, a treasury function must also be able to anticipate risks and disruptions, maintain operational stability in any circumstances, and develop recovery playbooks to rescue their organizations from the most extreme of setbacks.
A resilient treasury function is not just a steward of cash but an advisory and strategic arm of the business, instrumental to risk management and stability. It must at once be a function that protects, manages, and drives growth – three different but essential tasks. That is a big ask.
But many corporate treasury functions have learned, the hard way, that they can do it. They have endured a pandemic, a rising rate environment, and dramatic changes in their cost of funding, while dealing with pressures on supply chains, working capital and liquidity management.
These lessons must not be forgotten, but rather reinforced.