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  5. 2022 AFP Strategic Role of Treasury Survey: Improving Payment Processes and Working Capital are Top of Mind

2022 AFP Strategic Role of Treasury Survey: Improving Payment Processes and Working Capital are Top of Mind

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13 September 2022
Patricia Hines

Treasurers' skills and expertise are vital in helping organizations increase resiliency and respond to an uncertain environment, as indicated by the findings of the 2022 AFP Strategic Role of Treasury Survey Report, prepared by the Association for Financial Professionals with support from Marsh McLennan (MMC). MMC's sponsorship of the report allows us to share key highlights.

The survey examines treasury professionals' views on the evolution of the role and priorities of the function and how that impacts required skillsets and competencies. The survey also found that among core functions, cash management, liquidity, and improving payment processes are top priorities for treasury teams as they support their organizations in responding to an uncertain environment. Sixty-eight percent of treasury practitioners report that cash management and forecasting is a current priority for treasury within their organizations, followed closely by liquidity and cash planning.

Similarly, respondents indicate that the most challenging task they are dealing with at their jobs is — Improving payment processes; incoming and outgoing (cited by 64 percent of respondents). This task is found to be equally challenging by both core treasury professionals and senior treasury professionals. Coming in second — Working capital improvements (48 percent). A larger share of core treasury professionals considers this task to be challenging compared to senior treasury professionals (53 percent versus 45 percent).

With many challenges ahead, our parent company, Marsh McLennan, believes this is an opportunity for treasurers to step into the driver's seat and support vital decisions considering financial and non-financial impacts on the organization in the broader ecosystems of employees, customers, and suppliers in the near and long term. We invite you to join the webinar with the AFP on October 11, 2022 to discuss the survey findings. Please use the registration code "MM-V221011" for complimentary registration.

I hope you find the survey useful and would be happy to discuss Celent's perspectives on how technology can help corporate treasuries to address their biggest challenges.