Treasurers fight impacts of the pandemic
A comprehensive look at where treasury and the finance function sit in terms of their cash management and forecasting requirements, concerns around payments, and plans for the future.
Download our report on the state of treasury during the pandemic
If you are working in treasury or cash management you know how important things like cash flow forecasting and cash visibility are. But chances are in 2020 more of your colleagues started to see their importance as well.
In the summer of 2020, right in the middle of the global corona pandemic, Nomentia partnered with The Global Treasurer to conduct a survey to understand what are the top priorities in leading treasury departments and what future trends this might bring. And of course, how the pandemic is shaping the daily life of treasurers who are now more crucial than ever in keeping businesses going.
Some of the key takeaways include:
- Nearly two-thirds of treasurers say the biggest roadblock to centralization is time and resources, with many pointing to internal resistance, while greater visibility and lowering dependencies on banks is a key aspiration
- Cash forecasting is of prime importance for treasurers at the moment
- Top concerns around payments include operational efficiency and fraud
- How to make treasury and cash management centralization a priority