The 6th Journey-To-Treasury Edition has been launched (Euro-Finance 2021)

Interview of Fran?ois Masquelier, Vice-Chair of EACT on last Journey to Treasury issue

(1). Introductory comments on JTT – Why and What?

JTT is a thought leadership initiative. The aim is to help finance professionals resolve some of the technical issues they are facing. This document is a reference paper, including several case studies, which may inspire treasury peers on their digital journey. The outcome of JTT is unique in the world of corporate treasury – it is a collaborative, multi-faceted view, dedicated to professionals in a volatile world. With COVID which confirmed businesses change fast. The regulatory and technological context of doing business changes. The EACT members need to adapt to the evolving environment, and Journey-To-Treasury is a source of valuable pieces of information. To me the reports are not simply a compendium of industry hot topics. It is not a comprehensive shopping list of problems, we, corporate treasurers, are confronted to. It is a selective, intelligence-led, collaborative analysis of the themes that are the most relevant today. This report offers, for 5 years, an annual pragmatic vision of treasury, present and future. We see them as a reference document for all corporate treasurers to navigate in this rapidly changing landscape. Eventually, it is a fantastic benchmark for all our members.

(2) Digital transformation on its way

Treasury Digital Transformation is on its way. For treasurers it is useful to understand next steps on the digital transformation of their departments. The health crisis was a wake-up call and imposes to accelerate the digital (r)evolution to become more resilient. Our objective is always to talk about innovative projects, best practices, and state-of-the-art technologies. Treasurers understood they need to enhance internal controls and increase efficiency. It is essential, when networking is impossible for sanitary reasons, to share ideas with our friends and peers in treasury. In the podcast series, we have addressed the top three priorities for treasurers according to last PwC global and EACT annual surveys. Nevertheless, there are other priorities in the coming 12 to 24 months. I wanted to mention the bank relationship (a key issue especially when COVID completely change the economic landscape – we value the importance of solid and robust banking partners); the treasury organization is also an issue, as home working changed our life and treasury organizations – we all have lack in human resources and must be smart to enhance our productivity and efficiency; treasury technology remains high too – many treasurers are contemplating changing and upgrading their TMS, the backbone of a sound treasury organization; and equally, working capital optimization and funding, for obvious reasons.

(3) New priorities, new skills

All these above-mentioned priorities require new and upgraded skills. Treasury Associations, at national and international level, help educating members, informing about innovations, regulations, and best practices. We try to do our best to deliver appropriate training and courses to members. Treasury courses must evolve in parallel to fast-changing scope of treasury function. In my opinion, JTT perfectly serves this objective.

(4) Final comments on Future Challenges

Beside the top priorities we have addressed, the future challenges for treasurers will turn around education of teams to get the right skills and especially the IT knowledge and around recruiting the new talents and skills they will need. For example, we saw some large MNC ‘s recruiting executives with Python and data engineering skills. The search for efficiency will remain essential to enhance internal controls and through automation. One of the top objectives will be to become more resilient and able to adapt to rapid economic changes, like the one we faced with the health crisis consequences.

Comments from Fran?ois Masquelier EACT – September 2021

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