The Treasury Boot Camp is a treasury training program that covers treasury best practices, liquidity management, treasury risk management, treasury technology, internal controls and much more!   Over two days, Treasury Boot Camp attendees with study real-world examples of treasury and cash management best practices in an active learning environments.  Learn more about the Treasury Boot Camp by visiting: www.TreasuryBootCamp.com

Treasury technology is continuously changing... This is why treasury professionals should stay informed about treasury technology changes and how they may affect their job functions. The Treasury Technology Forum (www.TreasuryTechForum.com) is a one-day forum specifically focused on learning, discussing, brainstorming and documenting treasury technology best practices.

Listed below are some questions that will be discussed during the Treasury Technology Forum:

1. How do you create a treasury management system cost benefit analysis?
2. How would you create a treasury technology RFP scorecard?
3. How do you assess the effectiveness of your current treasury technology?
4. How might treasury management systems change in the next 10 years?
5. How are blockchains and distributed ledgers related? How might this affect treasury management?
6. What are the treasury processes that could be automated by artificial intelligence?

If you're interested in the answers to these questions, you may want to consider attending the Treasury Technology Forum. The Treasury Technology Forums are held in Chicago and registration is limited. Register today by visiting:

www.TreasuryTechForum.com

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.

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.

Conducting a treasury review / audit consists of documenting and benchmarking treasury processes, procedures and policies in order to create a strategic, multi-year improvement plan.   TreaSolution's treasury review consulting services has allowed us to gain extensive experience working with treasury departments in order to assist them in implementing treasury best practices.   Listed below are five reasons why a CFO / Treasurer would want to make a treasury review project a top priority.

There is a substantial learning curve for treasury department senior management (CFO, Treasurer, Assistant Treasurer, etc...) when they are new to the treasury department.  This is especially true if the treasury department senior management is also new to the company.  A treasury review / audit inherently shortens the learning curve for senior management because the treasury review will document all critical treasury processes, benchmark them against best practices and highlight both what is working well and opportunities for improvement.  What more could new treasury department leadership ask for when starting a new job?

Combining two treasury departments is a challenging process.   Combine two treasury departments while consistently implementing best practices is even more difficult!   Often there are time constraints when combining treasury operations due to mergers / acquisitions.  This often creates an environment of "just make it work" instead of "make it work well."   A treasury review after a merger / acquisition allows corporate treasurers to take a step back and critically analyze the combined treasury operations so that best practices can be implemented over time.

"It's always been done that way!" or "If it's not broken don't fix it!"  Under most situations having stable treasury personnel is a good thing!  Having stable treasury personnel is a reason for a treasury review because there are motivations for not disrupting known processes, technologies, procedures, policies, vendors, etc...   A treasury review / audit project is a catalyst to critically analyze all critical facets of the treasury department.   A treasury review project will analyze the business logic of each critical process, policy, et al. to ensure the implementation of best practices.

Has your organization outgrown your current treasury function?   Are your treasury personnel struggling with the volume & complexity of your organization's treasury management requirements.  If so, a treasury review will assist corporate treasurers in developing a successful treasury strategy that will foster secure and efficient treasury operations.   Business requirements dictate the scope of treasury operations.  Therefore, a treasury review / audit project will review all critical business requirements in order to develop a secure and effective treasury strategy.

All technology, including treasury technology, advances at an astonishing rate!   A key reason for considering a treasury review project is to help ensure that your organization is leveraging treasury technology effectively.  A treasury review will analyze the utilization of both current treasury technology (within the treasury department) and treasury technology which is available in the marketplace.   A treasury review will provide senior treasury management with a clear understanding as to how treasury technology can make a meaningful impact upon treasury operations, security and efficiency.

Ultimately, a treasury review project enables corporate treasurers to  have a thorough understanding of their treasury department operational successes, risks and opportunities.   A treasury review / audit project is a tool that successful treasurers utilize when developing a world-class treasury function. 

What road will you take to create the best possible treasury department for your organization?

Do you agree or disagree with this data?  Please feel free to use the comments to post your thoughts or questions.

Relevant TreaSolution Services:
Treasury Benchmarking Reports
Treasury Best Practices Review

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