Treasury and Payments
Treasury Transformation in the Age of Disruption
With 2020 coming into view, the landscape for multi-national corporates (“MNCs”) is at an inflection point. Across a broad range of sectors, MNCs are grappling with divergent economic growth rates across their core markets, rising cross-border trade frictions and persistent risks of geopolitical and regulatory fragmentation.
With 2020 coming into view, the landscape for multi-national corporates (“MNCs”) is at an inflection point. Across a broad range of sectors, MNCs are grappling with divergent economic growth rates across their core markets, rising cross-border trade frictions and persistent risks of geopolitical and regulatory fragmentation.
In parallel, corporates across a range of consumer-facing sectors continue to wrestle with a rapid evolution in consumer expectations, embracing digitalization and disruption by ‘digital-born’ players. This has driven a cycle of M&A and spin-off activity as incumbents seek to sharpen their strategies and reinvent their business models in a changing landscape1.
With treasurers sitting at the nexus of cash management and liquidity, achieving an optimal treasury strategy and operating model is more critical than ever. Key trends impacting MNC treasury present a robust case for greater visibility and control in the face of headwinds and re-positioning treasury to capture emerging opportunities in a fast-evolving landscape.
Key Trends impacting corporate treasury
With treasurers sitting at the nexus of cash management and liquidity, achieving an optimal treasury strategy and operating model is more critical than ever.
Implications for treasury transformation
The scale and scope of change in operating environment calls for a thoughtful approach to treasury optimization – which should aim to mitigate uncertainties while also setting the stage to capture emerging opportunities. These include:
- Achieving greater visibility and control of corporate cash by tackling drivers of complexity and implementing available levers (e.g., account visibility, tailored liquidity solutions and virtualization) in order to support the company’s immediate and medium-term priorities.
- Designing and implementing ‘future-ready’ treasury operating models that capture the benefits of centralization while ensuring agility and resilience within a fast-evolving cross-border environment.
- Adapting treasury to business model shifts by determining what is needed to position treasury as a value driver in “digital first” and “payments-intensive” models. This includes readiness for transformative M&A and spin-off scenarios.
- Laying the groundwork for “real-time” which in turn requires a thorough understanding of the evolving regulatory landscape, implications on core treasury functions and what is needed to thrive in an “24/7” environment.
Future articles in the “New Treasury” series will spotlight the above themes in greater detail, showcasing our views on treasury best-practices, selected case studies and new treasury solutions that we believe will help add value for our clients as they embark on their multi-year transformation journeys.
To learn more, please contact your J.P. Morgan Treasury Services representative.
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