Managing global cash is no small feat. And it’s no secret that a strong treasury function is imperative to an effective global cash management strategy, especially in today’s rising rate environment. Organizations with a responsive and flexible treasury function are better positioned to mitigate financial risk, centralize payments, increase efficiencies and take advantages of opportunity when it arises.
Your organization can reap the benefits of a solid treasury position by adopting these 4 strategies for managing your global cash:
1. Gain Control Over Operations
Process inefficiency remains a stumbling block to operational excellence for many organizations. A variety of factors contribute, including:
- Multiple banks,
- Multiple systems,
- Manual intervention, and
- Paper-based activities.
- Global bank accounts
- Payments
- Investments
- Counterparty exposure by category and individually
- Foreign currencies and commodities
Germaine Lang is the Managing Editor of SmartPayments with a strong creative and technical writing background across many industries. She also works to engage customers and relate their experiences with vendor products and services, positioning them as innovative thought leaders.
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