EK - Tomato AG, Finance and IT Beratung, Zürich – Cash Flow Management, Prozessoptimierung, strategische Planung

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https://www.tomato.ch/en/role_of_treasurer.html Last update Feb-2023

The Role of the Treasurer in Terms of Maximizing Peak Operating Efficiency

Redefine, pursue and realize the company's strategic advantages
Provide the best decision-making tools to successfully manage the entire operation
Optimize the use of corporate cash, not just in terms of bank accounts allocation but also its flow throughout corporate processes
Connect disparate systems into one to achieve a lean, accurate and cost-efficient operation

*The Day-to-Day Role of the Treasurer*
1.	Daily cash management	To keep financial solvency of the corporate. Daily visibility of all group wide bank accounts
2.	Financial risk management - currency risks - interest rate risks - fraud external and internal	Recognize via bank accounts overview short and midterm risks both in currencies and interest rates Be prepared and suspicion for fraudulent transactions
3.	Capital market transactions	Finance the group with liquidity and or make mor from existing liquidity
4.	Operational tasks	Be ready to be operational and guide with team spirits
	*Recurring Role of the Treasurer*
5.	Liquidity management and forecasting	Plan once a month the group liquidity and communicate and foresee gaps
6.	Handling of financial guarantees, such as pre-payment and delivery-on-time guarantees	If any, guarantees are a heck of manual work coordinate and standardize preferably according to UDRG rules
7.	Payment processes	Payments are recurring, structure, standardize and do only accept manual payment as an exception
8.	Standardize continuously processes	If a manual process starts and it can be recognized as recurring, find processes optimizing systems. Excel sheets are the exception
	*Strategic Role of the Treasurer*
9.	Management of bank relationships (correspondent banking)	Keep bank partners in strategic groups worldwide. Keep bank relations at Headquarter level. Divide and share.
10.	Comprehensive tax- and optimization of all group-internal finances and cash flows	Intercompany financing short- medium, long term and dividends are often based on local laws and government. Be ready to receive advices and act strategically
11.	Implementation of new financial products just in time	Keep in touch with financial products and check if they are usable for the group. Keep the products simple and plain vanilla. A financial product not fitting on a one pager might be useless.
12.	Treasury policy	Protect Treasury and CFO and accounting from risks with treasury guidance manuals such as Treasury policies
	*IT Affinity as a Role of the Treasurer*
13.	Eliminate manual transactions in account payables, account receivables (auto-reconcile), guarantees, etc.	The treasurer must eliminate the need for manual payment processes wherever possible as they produce a high error rate, are costly and not scalable. Ideally, the results are time- and cost savings from simplifications and automation.
14.	Web solutions	Online access to all relevant data for reporting and planning simplify and speed up liquidity planning, foreign exchange and bank credit management, netting and pooling.
15.	Business process re-engineering	Execution of financial transaction Internet and Intranet solutions via high-capacity Treasury systems promise increased efficiency and cost reductions.
16.
	*Outsource*
17.	Evaluation if to Outsource	Drawback: Know-how may gets lost Outsource only recurring tasks such as liquidity planning, reporting, and standardized workflows The treasurer retains the responsibility for financing, hedging strategies etc. The outsourcing evaluation requires a detailed analysis by a specialist
	*Evaluation if to Consolidate*
18.	Reinvoicing Center	Many companies consider centralizing payment processing and debit management in a subsidiary in the form of a Reinvoicing Center.
19.	Shared Service Center	If the reinvoicing center conducts additional operations such as financing, invoicing or other repetitive treasury activities, it becomes a Shared Service Center (SSC).
	*Areas of Responsibility*
20.	Bank Relationships	Financing in international capital markets Bank credits for operations management only Facilitates longer term credits at lower cost The classic credit operations of banks lose importance Investment banking keeps growing
21.	Risk Management	The increased capital-market competency of companies requires in-depth understanding of company strategies and financial markets. In-depth understanding of public relations and information requirements to banks and/or rating agencies is important as these are often the treasurer's responsibility.
22.	Risk Management's Requirements to Comply to the Law	Requirements vary from country to country and change over time. Therefore, it is imperative that the treasurer obtains latest information on requirements and ensures compliance.
	*To Be Successful…*
23.	…a Treasurer Must	Understand the company's business model including the tax and legal structure, customers and suppliers Develop creative solutions that maintain control and visibility over the cash that is generated and or used in each department Maximize value to the organization by accelerating the flow in Account Receivables and Account Payables Learn how to leverage new technology Ensure that the entire team is thoroughly trained in using new technologies