The adaptation to the euro significantly simplifies treasury and cash management and provides substantial opportunities for savings. Staff in finance and treasury departments need to be urgently informed regarding the developments of the Economic and Monetary Union and how it is affecting financial markets. Employees should be involved at an early stage in the development of the strategy to ensure that no area has been overlooked and that all staff are well informed and prepared. Each of these categories will be affected by involvement with the euro in different ways. A company information plan should include these dimensions.
Timely preparation is the key to success.
Specific attention should also be devoted to the staff who are in contact with customers. Salespeople should be trained so that they are able to negotiate in either the national currency or in euro. Eventually, all staff will require some degree of training.