2018 is almost here! That means we are obligated to recap the past year and make deep, insightful predictions for 2018. While there is much to draw from, our predictions focus on the following:
Accounting for widgets is not the role of a modern treasury leader. Treasury's shift from tactical to strategic is noted by AFP in its recent study, 2017 AFP Strategic Role of Treasury Survey, where "80% of survey respondents believe that treasury is currently playing a more strategic role at their organizations than in the past three years." However, in the absence of advanced technology, the treasury team is so encumbered with manual tasks that delivering strategic advice and decision support is out of reach.
This year's EuroFinance conference took place in Barcelona, set against a backdrop of political turmoil in the Catalonia region of Spain. The irony was not lost on conference attendees that the political instability in the host city could be compared to the increasing turbulence that treasurers face every day. Treasury must rise above currency volatility, sovereign risk, regulatory compliance challenges, payment fraud schemes, proposed tax reform and other issues.