Conducted between June and August 2007 from over 300 treasury professionals from some of the largest multinational corporations in Europe, the survey provides a reliable overview of the top issues in treasury over the next 12 months. Beyond the credit concerns, the survey covered a range of issues, such as the role of treasury, the treasurer's relationship with the CFO, risk, bank relationships and connectivity.
Despite credit concerns, the number one issue on a treasurer's agenda over the next 12 months will be liquidity management. Additional highlights include:
- Treasury is overwhelmingly undervalued as a partner in the business and would like a lot more acknowledgement. 71% feel treasury is still only viewed as a support function, and not a key partner in strategic decisions
- 77% of respondents admit they still use spreadsheets for some application or another in treasury
- A number of respondents said they were considering swapping their treasury management systems for the treasury modules of ERP systems
- Banking clubs or partnership arrangements are still unpopular
- 72% of companies are currently not preparing for SEPA, largely due to a lack of clear regulatory information
Carolyn Meier, Managing Director at EuroFinance comments, "This survey supports a number of trends that EuroFinance has discovered through its day-to-day research. It is no surprise to see liquidity management topping the agenda, with risk management, in particular FX hedging, coming in a close second. Despite the credit crisis hitting towards the tail end of the survey, 45% of those surveyed still expected credit to tighten in the next 12 months. It would be interesting to see where in the scale treasurers place this issue now," concluded Meier.