Bank of America Merrill Lynch’s Global Transaction Services (GTS) business has published its annual EMEA corporate treasury review, ‘EMEA Perspectives’.
Against a backdrop of macroeconomic, geopolitical and regulatory changes, the role and requirements of corporate treasury in EMEA are pushing new boundaries and transforming traditional client relationships. ‘EMEA Perspectives’ comprises a series of articles examining the issues which top the treasury agenda, and discusses how treasurers can best address challenges and source opportunities.
Jennifer Boussuge, head of GTS, EMEA at Bank of America Merrill Lynch said: “Because macroeconomic and regulatory developments continue to dominate press headlines and occupy corporate treasurers’ minds, treasury teams are demanding improved risk management tools and ways to enhance efficiency so they can help their businesses achieve their strategic objectives. Bank of America Merrill Lynch’s role as a global company is to help our clients understand and profit from these regional and worldwide challenges and opportunities.
"‘EMEA Perspectives’ draws on the expertise of our GTS team and highlights some of the most critical and significant issues we’ve identified as facing the industry today. Our intention is to provide clarity and direction for corporate treasurers as they look to stay at the forefront of regional developments and further develop their businesses.”
The report’s leading article, ‘Treasury in changing times’, by Jennifer Boussuge, creates a snapshot of the challenges treasury is facing across the region today. While considering the implications these risks have on treasurers’ current approaches to risk management, the article also assesses those factors which are determining treasury’s principal short-term objectives, such as accelerating globalisation and international expansion.
‘Mission critical: keeping liquidity flowing’ addresses the dynamics of maintaining control over liquidity given the shifting landscape in which companies are operating. Local market conditions and global regulatory developments can affect companies’ liquidity management choices and pose significant challenges. At the same time, some recent developments are providing companies with opportunities to manage their liquidity more effectively.
The article ‘Leveraging centralisation’ discusses the ways in which the centralisation of treasury functions and process standardisation can facilitate the evolution of treasury on a more strategic level, and how the visibility, control and efficiency established by centralisation can be effectively leveraged.
The importance of taking a coordinated approach to integrated payments and receivables management is explored in ‘Payables and receivables management in modern treasury’. The rapidly evolving payments and receivables environment, with more enhanced options today than ever before, coupled with an increasing tendency towards centralisation, have significantly altered the way in which treasurers approach and coordinate their payment processes.
‘Taking a proactive approach to global assets’ considers the way in which external regulatory and market factors are prompting corporate treasurers to think differently about asset management. With corporates taking a more holistic view of their bank relationships, this is leading to greater demand for tools and services which can address companies’ requirements at a global level.
The report’s final article, ‘Growth path to EMEA’ examines the considerations that companies need to take into account before embarking on an international growth path, such as financing and selecting the right bank. Despite ongoing economic challenges, the EMEA region continues to present an attractive growth opportunity across a wide range of sectors, but corporates need to adapt their operational and treasury strategies in order to optimise these.
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