Traditional functions such as foreign exchange, risk management, cash management processes are increasingly automated, web-enabled, and streamlined. Treasurers are outsourcing many non-core functions such as accounts receivable and payable in order to focus on core competencies. As a result, the traditional domain of the corporate treasurer has not so much shifted as been squeezed.
Forces of change
The global economy is changing rapidly, competition has forced markets to consolidate, merge and cooperate. Margins are shrinking and shareholders are demanding higher value at lower cost. Finance officers at corporate headquarters are feeling the full force of this change.
A product of such cost-consciousness is the shared service center SSC. Centralizing corporate functions...