Essentials of corporate cash are helpful to the reader in knowing the fundamentals for managing treasury. This book provides useful coverage of treasury forecasting, risks, managing cash and many issues to consider when selecting and implementing treasury technology and services.
Over the past several decades, the environment of the financial market has changed dramatically. Financial market volumes are now larger and news travels more quickly. Governments have always come and gone, crises have erupted, but today the information and implications are almost instant. Events that occur anywhere in the world can impact an organization within minutes. A number of factors have contributed to this change, including long-term changes in inflation and interest rates, government debt and deficits and the increasing global markets where volatility in one market impacts other markets immediately.
One of the important aspects of this dynamic change is felt and is considered by the author in this book Essentials of Managing Treasury. The subject of treasury management is both deep and broad. A treasury department is normally involved in all the three key policy decisions—investment decision, financing decision and dividend decision. It is very difficult to conclude in which of the three policy decisions it will be involved the most. The focus will shift from time to time based on the situation the organization finds itself in and the task at hand—growth, consolidation, tiding over recession, facing unforeseen competition, sudden changes in business environment, etc.
Treasury is being revolutionized due to new services and technologies, some of which were only ideas a short time ago. However, technology does not change the nature of treasury. It is still a role that requires proactive risk management and due diligence in the collection and stewardship of organizational assets. Although, there are excellent information sources available on the subject matter of treasury, this book is designed to be a treasury primer. |
