On Friday 29 March 2019, the UK will formally leave the European Union (EU). Although a transition period should apply from that date until Thursday 31 December 2020, it is not yet clear what the UK’s relationship with the EU will look like after that, especially as a trade deal between the two has not been agreed. The uncertainty is causing concern for UK corporates who are forecasting hypothetical scenarios. In fact, it is possible that there will be no transition period at all, if a withdrawal agreement has not been signed by the date of the UK’s departure.
The future of treasury is clearly digital. Just look to the agendas and speaking titles for the Association for Financial Professionals (AFP), the professional society committed to advancing the success of its members and their organizations, and you will see cloud solutions are the dominant building blocks for the modern treasury professional.
As the “chief growth officers” in an organization, CFOs play a crucial role in steering the enterprise toward profitable growth. Re-thinking the role of treasury in the midst of rapid growth is required to ensure success in the digital era. What separates winners from laggards is a treasury management system that equips treasury with the ability to take a more prominent role in driving both operational efficiency and execution effectiveness across business units.