Treasurers are crucial to maintaining a company’s financial health, yet many organisations do not fully empower them to maximise their impact. A recent PYMNTS Intelligence report, “Why Treasurers’ Influence Matters,” developed in collaboration with Citi, reveals that over 80% of treasurers believe their companies would benefit from closer collaboration with other departments.
The report highlights that companies, where treasurers have greater influence and integration into business operations, experience several advantages. These companies enjoy more predictable cash flows, anticipate revenue increases, and respond more effectively to market conditions. This is particularly important in today’s rapidly changing economic environment. The survey, which included 500 executives from April 9 to May 28, demonstrates that treasurers’ influence correlates directly with improved revenue outlooks and financial stability.
Additionally, the report sheds light on the importance of adaptability. Treasurers with significant influence help companies navigate market changes more adeptly. Despite this, non-treasurer executives often underestimate the positive impact a treasurer’s influence can have on revenue estimates. This misperception highlights the need for greater recognition of the treasurer’s role within the organisation.
Both treasurers and non-treasurers see the value in increased interdepartmental collaboration. Treasurers expect numerous benefits from such engagement, including better financial strategies and decision-making processes. However, there are still barriers to effective collaboration, often stemming from misperceptions about the treasurer’s role compared to the CFO’s. Addressing these barriers is crucial for leveraging the full potential of treasurers.
The findings emphasise that integrating treasurers into broader business operations can significantly enhance a company’s financial health and adaptability. Enhanced collaboration and influence not only benefit the treasurer but also contribute to overall organisational success. For a deeper understanding of these dynamics, the full report “Why Treasurers’ Influence Matters” is available for download.
