Exploring Shared Service Centers in Treasury: Insights by Bart Hendriks
Welcome to this deep-dive exploration into the world of Shared Service Centers in Treasury Departments. With the increasing infusion of technology and data science into everyday business practices, treasury departments are not left untouched. Artificial Intelligence, Machine Learning, and advanced data analytics are rapidly reshaping conventional treasury operations, altering how treasury professionals operate and what skills they need to thrive.
In this article, we dissect a fascinating discussion from a podcast featuring Hussam, Guillaume, and the insightful guest Bart Hendriks. Together, they probe into how treasury departments cope with this seismic shift, their challenges in recruiting the right talent, and their strategies to nurture and retain them. As the traditional treasury landscape transforms dramatically, we delve into the necessary adaptations and the road ahead for treasury professionals.
In This Episode, Expect to Learn Bart Hendriks’s Insights On
- Transitioning From Banking to Corporate Treasury,
- What Transforming a Treasury Department Means from A People Perspective
- The Ins and Outs of Shared Service Centers and The Implications for Treasury Of Course
- What Things Such as Payments on Behalf of Bobo and Factoring and Securitization Are in Treasury
- How To Build and Maintain a Best-In-Class Treasury Team While Attracting and Retaining the Best Talents And, Of Course
- And Much More.
Prepare to be enlightened as we navigate these discussions, breaking down the complex dialogues into simple, comprehensible insights. From understanding how Artificial Intelligence is transforming treasury roles to the battle of hiring and retaining new-age, data-savvy professionals, we have a lot to cover.
So let’s dive right in.
Transitioning from Banking to Corporate Treasury: A Detailed Insight by Bart Hendriks
Let’s begin with Bart Hendriks, the global head of treasury operations and in-house banking at Siva Logistics. With 25 years in the banking sector, he brings a unique blend of insights into our discussion today.
Transitioning from Banking to Treasury
Bart Hendriks started his career in banking, spending half of his career working in leverage finance corporate banking. He then decided to shift gears and transition into the corporate treasury, a process he admits was a big but liberating step.
In his first treasury role, Bart was asked to establish a treasury department for a spin-off of Texaco called Delac. This journey began as a one-person show and eventually expanded to a team spread across the Netherlands, Belgium, and France.
Working in banking had been exciting and challenging for Bart, but the transition to treasury offered a different kind of thrill. In his words, banking roles are “deal-driven”; once the deal is done, you’re off to the next. On the other hand, a treasury role is much more embedded within the organization. You have the opportunity to understand every facet of the business, take on clear responsibilities, and directly impact the organization.
The Role at Siva Logistics
Bart joined Siva Logistics just over a year ago. Siva is a third-party logistics company that caters to the needs of big businesses like Amazon, which require warehousing and logistics functions. Starting its journey as a Dutch company, Siva became a global enterprise about 15-20 years ago, and today, it operates in 160 countries.
Siva’s treasury department has undergone significant changes following several acquisitions, including restructuring the team. Bart’s team, Treasury Operations, oversees liquidity management, intercompany funding and lending, and bank guarantees globally. The team of eight operates across different regions, including APEC, North America, South America, and Europe. This diversity ensures a deep understanding of local businesses.
Building a Global Treasury Team
When Bart began at Siva, the team comprised two people. But as Siva moved its headquarters from the Netherlands to Marseille, France, the existing global treasury team changed. This movement saw the formation of a new team with different competencies.
Bart explains that even though Siva has centralized its treasury, regional treasury managers are appointed as part of the global team. These regional managers play a pivotal role due to time differences and the complexity of the organization. They stay close to the operating units and thoroughly understand the regional business dynamics. This strategy of having a global team with local representation ensures a balanced perspective on treasury operations.
Bart Hendriks’s journey offers some enlightening insights. Transitioning from banking to a treasury role can bring about a significant shift in perspective and responsibilities. It can be both challenging and liberating.
What is a Shared Service Center, and What Type of Companies Use it?
Guillaume asked Bart Hendriks to clarify what a shared service center (SSC) is and which types of companies typically utilize it.
Shared Service Center – A Simplified Definition
In Bart Hendrick’s perspective, a shared service center is a center of expertise where various processes across regions are consolidated. This could include finance, accounting, treasury, and accounts payable processes. SSCs aim to optimize efficiency by implementing technologies that enable global services. For Bart’s company, this means serving over 160 countries from their SSCs.
A shared service center is a hub where a company brings various operations together to streamline processes. This hub can be located anywhere globally. Bart’s company, for instance, has one SSC in India that is outsourced, meaning they don’t own it. Instead, they have hired a third-party provider to run it. They also have an in-house SSC in Malaysia.
SSCs aim to make business processes more efficient and aligned with the company’s strategies. As a bonus, it’s often a cost-saving measure as they are usually located in countries with lower labor costs. This setup allows the company to use its resources locally for more strategic functions.
Who Uses a Shared Service Center?
After understanding shared service centers, Guillaume sought to determine the type of companies that benefit from using one. Bart explains that it usually requires a certain critical mass, meaning larger corporations often find SSCs more beneficial. Bart’s experience with large companies like Friesland Campina and a Japanese enlisted company supports this.
However, location isn’t always the main driver. It can also be about local expertise. While it’s challenging to pin down the requirements regarding revenues or employees, there must be a business case to justify setting up an SSC. With technology making it easier for global teams to specialize and work together, even smaller companies (those with turnover between 250 million and a billion) may find SSCs more attractive.
External or In-house SSC?
Hussam asked whether SSCs are usually external entities contracted by bigger companies or in-house operations. Bart answers that it varies. Some companies, like his, use an external party. However, if a company has the cash and people resources, they may find it beneficial to set up an in-house SSC.
That said, setting up an SSC is not the main business of most companies, so it requires acquired knowledge. For smaller companies, outsourcing might be the most viable option. It’s also possible to start by outsourcing, gain expertise, and gradually transition to an in-house SSC.
The Human Impact of SSC
Bart underscores that setting up an SSC isn’t just about saving money or consolidating processes. It also has a significant human impact. When you centralize processes, you potentially take away business from accounting teams in each global or regional entity. You might tell employees who’ve been with the company for 10-15 years that their responsibilities are being transferred elsewhere. Hence, it’s crucial to consider the human aspect when considering a move toward a shared service center.
How Long Does It Take to Set Up a Shared Service Center from Scratch?
If you’ve ever wondered how long it takes to build a shared service center from the ground up, you’re not alone. Guillaume asked Bart Hendriks the same question.
Bart explained that setting up a shared service center isn’t an overnight affair. The duration to get one up and running depends on several factors.
Different Processes Take Different Amounts of Time
Every process you plan to centralize into a shared service center carries unique complexities and time requirements. For instance, centralizing payments can be relatively straightforward and quick because you can use modern technology to scan invoices and process them centrally.
On the other hand, tasks like accounts receivable and credit management are more complex. They involve training multilingual staff and preparing them to interact with your global customers, a process that can stretch over the years. In other words, the more complicated the process, the longer it can take to move it to a shared service center.
Technology and Training Time
From a technical perspective, processes can be moved quickly to a shared service center. However, remember that even after the technology and infrastructure are set up, training the staff, establishing clear processes, and building confidence in the new system take time. While some processes may be transferred quickly, achieving a fully functional shared service center could take years.
Continuous Development and Improvement
The job isn’t done once the shared service center is set up. It’s a place for continuous development and improvement. Even today, Bart’s company constantly looks at how to transfer more processes from the central and local entities to their shared service centers.
For instance, they are considering transferring the process of reducing non-centralized cash to their shared service center. This significant task requires clear process descriptions, testing, and setting key performance indicators (KPIs) before it can be handed over. Even small tasks like this can take up to three to six months to transfer completely.
In conclusion, building a shared service center isn’t a simple or quick task. It requires careful planning, implementation, and continuous improvement to be successful. But despite the time and effort it takes, the potential benefits in cost savings, efficiency, and streamlined operations make it a valuable strategy for many businesses.
What is a Payment Factory and Why Centralize Payments in a Shared Service Center?
In the treasury and cash management world, you might have come across terms like “payment factory.” Let’s understand what it means and why you might want to centralize payment processing in a shared service center.
Understanding a Payment Factory
Simply put, a payment factory is a centralized unit where all payments are processed. Guillaume asked Bart Hendriks to explain this term and why it’s beneficial to centralize payments in a shared service center.
Bart’s company, Siva, is a good example of a company that has centralized its accounts payable (AP) process in India. When companies grow by buying other companies, they often inherit these companies’ local accounting departments and accounts payable teams. In Siva’s case, they managed to streamline and centralize this process with the help of their enterprise resource planning (ERP) system, JD Edwards, and a treasury management system called Koreba.
The Perks of Centralizing Payments
Why bother centralizing payments in a shared service center? Bart mentioned several significant benefits:
- Uniformity: Centralization brings about a uniform process. This means the process is the same everywhere in your organization, with no exceptions.
- Control: A centralized system means you can have the same authorization structure everywhere. This is important for keeping a tight rein on your payments and ensuring everything is done correctly and securely.
- Visibility: When all your payments are processed centrally, you have a clear view of your outgoing payables, which helps manage your cash flow.
Centralizing payments is all about having a clear, controlled, and uniform process that is easier to manage and gives you better oversight. While not every company is currently taking advantage of all the benefits of a centralized payment system, it’s clear that this approach has significant potential for enhancing treasury operations in the future.
How Do Payments on Behalf Work and What are the Advantages?
You may have heard the term “payments on behalf” in treasury discussions. But what does it mean, and how does it relate to shared service centers? Let’s delve into these questions and clarify this important aspect of cash management.
What are Payments on Behalf?
“Payments on behalf” is a term used in treasury management that refers to a central entity making all payments for an entire organization. It’s like having a hub that handles all the payment activity instead of several teams making payments.
Bart explains that the concept has some significant benefits, while his company Siva doesn’t currently use this system due to its complex, global structure.
Benefits of Payments on Behalf
Here’s why you might want to consider using a “payments on behalf” system:
- Complete control of cash: A central entity responsible for payments allows you to have full control over your cash.
- Control of the payment cycle: Different parts of your company may have different payment schedules. Some might pay daily, while others pay weekly. A central entity can establish a uniform payment schedule, like only paying twice weekly. This could have a significant impact on your working capital.
Moreover, Bart mentions a further extension of this concept: collections on behalf. This would mean one entity is listed on all invoices with one bank account where all money is received. It allows you to centralize cash from the source, further enhancing control and visibility over your finances.
What is the First Treasury Process to Centralize for Maximum Efficiency?
In a complex organization with entities across different regions, the decision to centralize certain tasks can be a game-changer. But where should you start to see significant efficiency, and which process to prioritize? Bart shares some insights that can help us understand this better.
The Payment Process Before Centralization
Before we delve into what should be centralized, let’s paint a picture of how a typical payment process works without centralization. Here’s how it happens in most organizations:
- A supplier’s invoice arrives at one of your local entities.
- Someone at the local entity enters the invoice into your ERP (Enterprise Resource Planning) system, often by typing it in manually.
- The invoice sits in your system until its due date.
- The invoice is included in a payment proposal or batch on the due date.
- Someone prepares this batch for payment, gets it signed, and sends it to the bank.
- Two people at the bank approve the payment to ensure a separation of duties (also known as the “four eyes” principle).
- The bank processes the payment.
Centralizing the Payment Process in a Shared Service Center
Now, imagine if you had a shared service center handling this process. The changes would look something like this:
- Invoices still get received locally, but now they’re scanned and sent to your shared service center.
- Full-time employees at the shared service center, whose sole job is to handle these invoices, enter them into the ERP system.
- These employees ensure the payment batches are prepared on time.
- They oversee that internal approvers have approved the payments promptly.
- They ensure the batches are sent to the banks and approved there.
Bart suggests that centralizing the payment process allows you to gain efficiency, consolidate knowledge, and free up local employees for more strategic tasks. It allows you to maintain global control over the process, and any necessary changes or adjustments can be managed from one place.
So, if you’re considering setting up a shared service center and centralizing treasury tasks, starting with payments could be your low-hanging fruit. It’s not just about efficiency—it’s also about managing the process effectively globally.
How Does Trade Finance Relate to Shared Service Centers?
In this section, the host and the guest discuss the role of shared service centers in trade or supply chain finance. The focus is on selling invoices, also known as factoring or securitization. We’ll break it down to make it clearer.
Trade Finance in Shared Service Centers
Bart Hendriks shares two examples of how shared service centers can be involved in trade finance processes. The first revolves around securitization, a financial procedure involving selling receivables (money to be received in the future) to a specially created legal entity. A group of banks funds this entity.
- Once an organization sells a product or service, it creates an invoice sent to the customer.
- The customer typically pays this invoice after a set period (say, 30 or 60 days).
- However, instead of waiting for the payment, the organization sells this receivable to a bank or a special purpose vehicle (SPV).
- The bank or the SPV then pays the organization almost immediately, freeing up the cash for the organization.
The shared service center plays a crucial role in this process, especially in reporting and preparing multiple transfers. A centralized system ensures smooth operation since this is a global program.
Factoring and Securitization
Though ‘factoring’ and ‘securitization’ might sound complicated, they are essentially different forms of selling invoices or receivables. Both aim to get cash earlier instead of waiting for the customer’s payment. The difference lies mainly in the complexity and the scale of operations.
Securitization is typically used by larger companies operating in different jurisdictions. It involves creating a special purpose vehicle (SPV), a legal entity owned by the company but funded by a group of banks. The company sells its receivables to the SPV instead of a single bank. The banks fund the SPV and hence control the cash inflow.
On the other hand, factoring is a simpler process where a company sells its invoices directly to a single bank or a financial institution.
During times of financial strain, such as during the COVID-19 pandemic, these methods of getting cash quicker became very important for companies.
Simplifying Factoring
Hussam puts the concept of factoring or securitization into simple terms. When a company makes a sale, it issues an invoice to its customer with payment terms, such as 30 or 60 days. The company then sells this invoice (or ‘promise of future payment’) to a bank or a group of banks, getting immediate cash in return. But there’s a catch!
- The bank doesn’t pay the full invoice amount. For instance, if the invoice is for 100 euros, the bank may only give the company 95 euros. The 5 euros kept by the bank is like insurance.
- If the customer pays the full amount on time, the bank returns the company a portion of the withheld money, keeping a part of it as the factoring fee. For instance, the bank might return 4 euros and keep 1 euro as the fee.
Shared Service Centers and Factoring
Now, the role of shared service centers has become evident. Managing this factoring process involves a lot of paperwork and reporting. It could consume a significant portion of a worker’s day if done at the company’s headquarters.
Instead, many companies choose to outsource this task to a shared service center. In Bart Hendriks’ example, their company has a shared service center in Malaysia that handles all the documentation and management related to factoring.
By doing so, the company can free up time for its employees at headquarters, centralize this operation, and make the process more efficient. As a result, the shared service center becomes a crucial player in helping the company get its cash earlier through factoring and securitization, thereby improving the cash flow.
How Does Treasury Shared Service Centers Fit into a Global Treasury Team?
Let’s discuss how a Treasury Shared Service Center fits into a more extensive, global treasury team. We will also explore how this setup works at Siva, a company with regional treasurers and cash managers spread worldwide.
The Structure of Shared Service Centers
Shared Service Centers usually have their independent reporting structures. In Siva’s case, their shared service center in India focuses on accounting, accounts payable, and accounts receivable, and it has its reporting lines.
The Treasury Role of Shared Service Centers
Now, let’s shift our focus to Siva’s other shared service center in Malaysia. The team here is not only dealing with common tasks like accounting. They are also involved in treasury tasks like securitization, cash centralization, and even more strategic tasks like cash flow forecasting.
This team reports directly to the Global Treasury, making them an integral part of its treasury structure. Being in Malaysia doesn’t mean they’re less skilled or less important. Instead, they play a specific, essential role within the treasury operations.
Cooperation and Role Distribution in a Global Treasury Team
Shared service centers’ role and impact on the overall treasury structure have evolved as our world becomes more data-driven. Today, it’s all about teamwork. At Siva, the head office team analyzes and interprets the data produced in Malaysia. They’re experts in data interpretation, treasury management systems, and technology, turning raw data into actionable insights.
Meanwhile, the regional cash managers focus more on strategic tasks like selecting the right banking partners and setting up the right liquidity structure for each region. They’re project managers dealing with implementations and migrations.
In short, within a global treasury team, every team member, regardless of location, has a role. The aim is to optimally utilize each member’s expertise and resources, creating a well-oiled, efficient treasury machine.
The Talent Pool in Treasury and the Best Way for Attracting and Retaining the Best Talent
In today’s complex business environment, attracting and retaining the right talent, particularly in the field of treasury, is critical. Let’s explore the talent landscape in treasury and understand the strategies to attract and retain the best talent.
The Challenges of Turnover
In shared service centers, turnover is usually high. Companies may face this challenge everywhere, whether in India, Malaysia, or elsewhere. But it’s not an unsolvable problem. For instance, at Siva, employees tend to stay for a long time.
Making Employees Feel Part of the Team
To retain employees, especially in shared service centers, it’s important to make them feel like a part of the team. Regular communication, group discussion involvement, and process development participation can foster a sense of belonging.
Empowering your employees is key. Give them opportunities to influence the work processes and improve efficiency. This can help create a more invested, committed workforce.
Building a Centralized Treasury Team
The process of building a centralized treasury team has evolved over the years. From being operational initially, such teams have become more strategic, contributing to the company’s strategic direction.
The responsibilities and expectations of team members have changed as well. For example, 10 years ago, a treasury team member might have been tasked with basic operational duties like transferring cash or opening bank accounts.
Now, companies look for individuals with a broader focus. They don’t necessarily need a banking or cash management background. Instead, they must be willing to learn, understand the business, and be technologically adept.
The Increasing Importance of Technology
In the current landscape, technology plays a crucial role in treasury functions. Proficiency in treasury management systems and cloud-based software and a basic understanding of machine learning and data analysis are highly desirable skills.
The right talent in treasury now needs to adapt quickly, learn new technology, and leverage it effectively. As the skill set required for treasury roles changes, so does the approach to retaining such talent.
Retaining Onshore Teams
For onshore teams and those in regional offices, continuous stimulation is crucial. Providing challenging roles and tasks that help them grow professionally can significantly aid retention.
In conclusion, attracting and retaining treasury talent requires a clear understanding of evolving skill requirements, creating an inclusive environment, and providing continuous learning and growth opportunities.
How Has the Focus on Data Skills Impacted Treasury Departments?
Data has become a driving force behind many business operations in today’s fast-paced world, and treasury departments are no exception. Let’s delve into how treasury departments are benefiting from focusing on data and technology.
Treasury: Sitting on a Goldmine of Data
You might not realize it, but treasury departments sit on a mountain of data. They know the ins and outs of a company’s finances – from payment frequencies to customer payment habits. In the past, much of this data was underutilized. However, with the rise of technology, this data is being harnessed and put to good use.
From Operational to Strategic
Historically, treasury teams were primarily operational – transferring cash and opening and closing bank accounts. Now, the focus has shifted. Treasury teams leverage data to make strategic decisions, create algorithms, forecast cash flows, and interpret data. This information can be used to support other teams in the company, including sales, procurement, and senior management.
For example, treasury departments can provide insights into customer payment habits, supplier selections, and cash flow forecasts. This information can help other teams make more informed strategic decisions.
Stepping Outside the Silo
Historically, treasury departments operated within their silo, focusing solely on cash management. Now, they’re looking beyond their boundaries. They share their data-driven knowledge with other teams, providing added value. But this is just the beginning.
Implementing New Tools for Forecasting
Companies like Siva are beginning to implement tools like Cash Analytics to enhance their forecasting capabilities. This tool uses algorithms to learn from data and predict future cash flows. It can be fed data from your ERP system, which aids in creating accurate forecasts. The impact of this tool will be substantial, not just for the treasury department but for other departments like sales.
In conclusion, the shift towards a data-focused skillset is revolutionizing treasury departments. No longer are they just operationally focused; they’ve become strategic partners within their organizations, providing invaluable insights to drive business decisions. This is a clear testament to the power of data and technology in modern treasury operations.
How Do You Balance the Growth and Training of Data Skilled Professionals in Treasury?
The importance of data skills in treasury functions is growing in the modern business landscape. However, there’s a pressing question – how do we balance growing and training these data-savvy talents while maintaining operations and delivering quality results?
The Two Types of Talents in Treasury
In a treasury department, you’ll generally find two types of people. One is the data scientist who isn’t treasury-educated. They’re interested in making sense of data and turning it into valuable insights for the organization. On the other hand, you’ve got the typical cash manager whose main duties are preparing transfers and managing bank accounts. Both roles are important in their own right.
The Shift to a More Data-Centric Treasury
However, introducing new technology is causing a significant shift in treasury management. The roles are transitioning from basic operational management to more high-tech, data-centric functions. In other words, the focus of treasury departments is moving away from conventional tasks and towards data analysis and strategic decision-making.
This shift implies that some tasks previously performed by humans will soon be replaced by technology. Tools like artificial intelligence (AI) and machine learning are set to impact the conventional treasury functions we’re familiar with greatly.
The Role of AI and Machine Learning
AI and machine learning will be crucial in the evolution of treasury departments. They’ll help us optimize processes and harness data to benefit the whole organization. Treasury departments can leverage these tools to become more strategic partners to senior management.
The Balance Between the Old and the New
The shift to a more data-focused treasury is happening, but it’s not an overnight change. Today, we still need a blend of traditional and new skill sets in treasury departments. On the one hand, we still need individuals who understand the conventional treasury and cash management aspects. They should know how to open a bank account, perform transfers, and understand terms like ‘MT940’ and ‘SWIFT.’
On the other hand, we’re transitioning into a new phase that requires data-focused professionals. Striking the right balance between these two types of talents is crucial for treasury departments navigating this exciting transformation in Treasury Departments.
Future Hiring in Treasury: Data Skills or Treasury Background?
It’s an exciting time in the world of treasury, with changes brought on by technology and data science. One big question arises: what’s the best approach for hiring in the future? Should companies look for individuals with strong data management skills and teach them treasury operations? Or should they continue hiring people with treasury backgrounds and train them in data management?
The Preference for Data Skills
Interestingly, the trend is leaning towards hiring people with more data backgrounds than treasury ones. The need for treasury-specific skills, like opening bank accounts, still exists due to traditional banking requirements like wet signatures. But as external partners progress, companies can transition faster to specialized roles.
However, it’s not as straightforward as it sounds. Attracting data-focused individuals to a treasury department, especially in industries like logistics, can be a tough sell. Imagine enticing someone to work for a logistics company’s treasury department when they could work for a tech giant like Google.
Making Treasury Appealing to Data Talent
Treasury departments, therefore, face the challenge of making their roles attractive. How do they do that? One advantage treasury has over high-tech companies is the tangible service they provide. Even if their trucks aren’t on the road daily, competitors like FedEx and DHL are visible.
An effective way to attract and retain data talent is to show them the fascinating aspects of the treasury. For example, take candidates to a warehouse and show them the processes. Make them understand the importance of logistics in today’s world and how their skills can contribute to a sustainable way of getting products from A to B. It’s all about demonstrating the tangible value of their work.
Moreover, treasury departments are also focusing on building a presence in universities, attempting to tap into the potential of young talents right at the start.
Retaining Talent: An Important Aspect
Beyond attracting talent, retaining them is equally, if not more, important. Given the dynamic market, with numerous vacancies and recruitment activities, holding on to good talent is challenging.
In the past, offering perks like company cars or pay increases helped retain employees. But now, companies need to do more. They must offer regular training to keep employees’ skills sharp and relevant. They must also provide ownership, making employees part of the decision-making process. This strategy works particularly well for retaining young talents who value challenges, learning opportunities, and a sense of ownership in their roles.
Conclusion
Once considered conventional and routine-driven, Treasury departments are standing at the crossroads of transformation. Incorporating artificial intelligence, machine learning, and data science has brought dynamic changes that are gradually reshaping the treasury landscape. The need for new skill sets and the urgency of adapting to these changes are more prominent than ever.
From our discussion, it’s clear that the future of treasury will heavily rely on data skills. Yet, embracing this change and attracting data-savvy professionals is not without challenges. From navigating the shift of tasks from humans to machines to attracting and retaining data talents in a traditionally non-tech sector, treasury departments are embarking on a transformation journey that demands strategic foresight and innovative approaches.
However, the key to navigating this change lies in a balanced approach. Treasury departments must blend data skills and treasury-specific knowledge effectively, allowing them to leverage technology while maintaining operational responsibilities.
Moreover, attracting talent is just half the battle won. The other half retains them, necessitating an environment fostering growth, learning, and a sense of ownership. By doing so, treasury departments can ensure they are attracting the right talent and nurturing and retaining them for the long term.
Companies must adapt and stay ahead as treasury transitions into a more technology-driven, data-focused role. Whether that’s by bringing data-skilled individuals on board, offering ongoing training, or empowering them with ownership, companies need to leverage these strategies to effectively ride the wave of change. The future of treasury is exciting, filled with challenges and opportunities, and it’s up to us to make the most of it.
