Visibility Is The Key To A Successful Cash Culture
- Treasury management is a cultural behavior that can be enhanced and improved by a good treasury management system
that enables cross-organizational visibility and communication.
- The big data analysis and data mining enabled by a TMS allows treasury groups to see and communicate clearly about the health, safety, and success of an organization’s treasury management activities.
“The value of the treasury department is based on the ability to mobilize and coordinate teams and subsidiaries around the cash culture.”
“The value of the treasury department is based on the ability to mobilize and coordinate teams and subsidiaries around the cash culture,” says Philippe Sanchez, CFO of the Exclusive Group. “Being successful is not just about the system you are using, but creating a change that, thanks to good technology, spreads a cash culture across the organization.” Of course, what Sanchez means when he says “cash culture” is management of cash forecasts, cash flow statements, and other cash specific methodologies. Since the Exclusive Group is a global organization, based in Paris, with subsidiaries in Europe and Asia, the company deals with 20 different currencies. This makes managing a cash culture challenging. “Thanks to the treasury department, we can automate these processes, which helps to optimize short-term liquidity.”