Treasury & cash management
treasury The changing face of
Covid-19 has renewed focus on the role of treasury within organisations. The pandemic, combined with the potential unleashed by automation and digitisation, has made treasurers indispensable to companies wanting to future-proof their bottom lines. Lynette Eyb asks Caroline Stockmann, deputy chair of the European Association of Corporate Treasurers, and CEO of the UK-based Association of Corporate Treasurers, about the role of treasury in the post-Covid world.
he global financial crisis was a once-in-a- generation event that touched almost every sector of the economy. It presented problems corporate executives never imagined they’d have to face – banks collapsed, subprime lending imploded and share prices plummeted. And then came Covid-19 – a health emergency that rapidly escalated, closing down manufacturing sites, rupturing supply chains and putting millions of businesses at risk. Companies scrambled to future-proof in uncertain times.
T
Caroline Stockmann, deputy chair of the European Association of Corporate Treasurers (EACT) and CEO of the UK-based Association of Corporate Treasurers (ACT), says there are clear parallels between the two international crises. “During the global financial crisis, treasurers really came to the fore,” she says. “Even though it was more of a banking crisis, people realised the importance of treasury. The avalanche of activity during the more recent crisis provided a renewed understanding within organisations of the importance
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Finance Director Europe /
www.ns-businesshub.com
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