World-Class Treasury Management: 16 Treasury Optimization Projects for 2016

Achieve Your 2016 Treasury Management Goals!

The start of the new year is an ideal time for Treasurers to reflect upon overall treasury strategies and goals.  Since TreaSolution's purpose is to help organizations in developing world-class treasury functions, we've compiled a list of sixteen treasury optimization projects that every Treasurer should consider for 2016. 

The list of treasury optimization projects range from basic treasury policy and procedures documentation to advance treasury and risk management analysis.  TreaSolution hopes that this list will assist Treasurers in creating a world-class treasury department by implementing treasury best practices and simultaneously documenting treasury optimization results.

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16 Treasury Optimization Projects for 2016

1. Document and Benchmark Treasury Policies
2. Document and Benchmark Treasury Procedures
3. Document and Benchmark Treasury Internal Controls
4. Create and Monitor Strategic Treasury Management KPIs
5. Document and Benchmark Treasury Personnel Workload Allocation
6. Update Treasury Position Descriptions with the Human Resources Department
7. Create and Regularly Test a Comprehensive Treasury Disaster Recovery Plan
8. Benchmark Current Treasury Technology Against Options Available in Marketplace
9. Review Treasury Technology Access Permissions (Treasury Workstations, Bank Websites, Etc.)
10. Benchmark Bank Analysis Statements Against Contracted Fee Schedules
11. Review Current Bank Account Architecture and Corresponding Account Purposes
12. Document and Review Bank Relationship Management and Implementation Services
13. Confirm the Accuracy of All Bank Signers on Both Bank and Organization Records
14. Document and Review Current Foreign Exchange (FX) Risk Management Functions
15. Document and Review Current Insurance Risk Management Functions
16. Create a Detailed Cash Forecast and Regularly Discuss Results with Organization Leadership

What are your thoughts about this list of treasury optimization projects? Should any projects be added to this list?  What treasury optimization projects will your treasury department pursue this year?  Please feel free to add your comments below.