2020 AFP Strategic Role of Treasury Survey Report
Celent's parent company, Marsh & McLennan, is proud to sponsor the Association for Financial Professionals’ (AFP) 2020 survey that examines the strategic role of treasurers. The survey explores evolving treasury responsibilities, critical skills for treasury leaders and their teams during Covid-19 and post pandemic, and the role of technology within treasury in the next three years.
Key takeaways from the report include:
- Over 80% of treasury professionals believe there is a greater value assigned to treasury during the Covid-19 crisis. Looking ahead, two-thirds of survey respondents believe this higher perceived value of the treasury function to the organization will continue over the next three years.
- During the current Covid-19 crisis, the focus on liquidity management and managing cash were the two factors driving treasury’s greater strategic role at organizations. These two factors will continue to drive treasury’s increasing strategic role in the next three years.
The pandemic has highlighted the importance of communication, analytical skills, and organization for treasury leaders and teams to ensure they impact and effectively support the business.
From a technology perspective, strategic treasury teams better understand the significance of utilizing technology to optimize their success in the organization. 70% of these treasury teams responded that treasury-specific technology is Very Critical or Critical
The 2020 AFP Strategic Role of Treasury Survey can help treasury departments identify their focus areas, and provide risk professionals and others in the organization a glimpse at treasurers’ viewpoints.
With many challenges ahead, Marsh & McLennan believes this is an opportunity for treasures to step into the driver’s seat and support vital decisions considering financial and non-financial impacts on the organization in the broader ecosystems of employees, customers, and suppliers in the near and long-term.