Benefits include better risk management, elimination of duplication of work, specialization, better information flow and business responsiveness. Thus the traditional distinctions between those corporate functions are gradually wearing away. And though the treasurer's domain is looking leaner, a treasurer's skills set looks to be rounding out. Treasurers must become risk management professionals, familiar with in-country regulations, and the volatility of the Asian market environment. There must be as much investment in risk management as there is cash forecasting.
Dynamic trade means that treasury also has to be dynamic.
Online buyers demand rapid responses and therefore the supply chain has to be fluid. Even banks are moving financial transactions from batch processing to real-time. And so the challenge has been thrown up to treasurers to add value to the electronic commerce cycle. This means that treasury has to adopting electronic mechanisms for paying and collecting payments from customers to ensure that the full commerce cycle runs smoothly. It is imperative that treasurers assert themselves when corporations shed old economy business models and redesign new ones.