Posted on Nov 3, 2021, 6:58 am
AFTE is celebrating its forty-five years this year… Is it also the age of the treasurer’s profession?
The profession of treasurer has existed for a very long time, because it has always been necessary to manage cash. On the other hand, the function of treasurer appeared, like our association, in the mid-1970s. Initially generally a sub-element of accounting, it took its independence when we started to consider the dates of registration no longer. accountant, but the value dates, which correspond to the moment when the money actually arrives in the bank account.
Since then, the function has acquired a great deal of autonomy and has been greatly enriched technically. Today, treasurers are responsible for three main topics. First of all, financing, where the markets have taken an increasing place, alongside traditional bank loans.
Then, risk management, currency risk, of course, but also “commodity” or energy risks. Finally, flow management and cash management, which are closer to real time and call on increasingly sophisticated tools. These three areas have seen similar developments in recent years: strong acceleration, automation and professionalization.
What will be the next big trends?
Automation is sure to continue and expand. It is difficult to know, on the other hand, if banks will still be the main vectors or if the technological part will become so strong that the evolution will be done rather thanks to Fintechs or to new entities, outside the field of traditional banking. .
The other development – major and very recent – is the emergence of CSR in the sphere of the treasurer.
The other development – major and very recent – is the emergence of CSR in the sphere of the treasurer. The subject, rather foreign to our universe five years ago, is now essential. It will support us in the future, from financing indexed to CSR objectives to managing cash flow risks… It’s a real change.
Have expectations changed?
The treasurer can no longer be in his bubble, facing his screens. Today, treasury teams are expected to provide more human added value and “soft skills”, particularly in terms of communication, interpersonal skills and organization. Indeed, the treasurer must not only discuss with the business lines to estimate the financial needs and the exposures to be covered but also explain his problems to the strategic managers – financial director and other members of the Executive Committee. We must therefore be able to clearly present the issues that are sometimes very technical …
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