Are new risks and new rewards the new normal? Technology is touching everything that we do in our working lives – and treasury is no exception. But if this is the new normal, then what’s next? This is the question we pose in our main feature article – the new opportunities and threats of technology in treasury.
In a wide-ranging review of the tech and data landscape, technology writer Lesley Meall investigates the many possibilities that are being opened up for treasurers, whether through application programming interfaces and embedded finance or robotic process automation. But no, the robots won’t be stealing treasury jobs any time soon – in fact, they will potentially be making work, from wherever you are based, much more interesting (see page 7).
And life is set to get even more ‘interesting’ as organisations around the world grapple with the triple threat of inflation, interest rates and recession; treasurers are demonstrating real leadership in how they deal with the financial pressures that surround them. But, as you will see in Gavin Hink’s insightful article on preparing for recession, it is an opportunity for treasurers ‘to shine’ (see page 13).
Keeping with the leadership theme, we spoke to members of the Association of Corporate Treasurers’ Future Leaders in Treasury group and asked them where they see changes coming in the next few years. Their perspectives are both illuminating and insightful, with considerable emphasis on technological change (see page 25).
We always like to hear from treasurers about their experience, so in this edition we highlight two treasury departments, both winners in the Deals of the Year Awards earlier this year. The team at Adecco, the Swiss-based recruitment consultancy, shares its experience of innovative fund raising as part of an acquisition (see page 30), while Agnė Masiulytė, senior director of treasury at Vinted, takes us through a day in the life of the rapidly growing pre-loved fashion e-commerce business (see page 48).
On a personal note, this is my first issue as editor of The Treasurer as I take over from Christian Doherty, whom I am pleased to report will still be contributing to the magazine – read his report on the red-hot recruitment market for treasurers (see page 16).
It was with sorrow that we learned of the passing of Her Majesty, Queen Elizabeth II. As a professional body with a Royal Charter, the ACT is proud to serve the Sovereign as well as our treasury community around the world.
Philip Smith
Editor
