MESSAGE FROM THE PRESIDENT
Welcome to another edition of The Exchange Newsletter. At the FTA we’re slowly dusting off the December/January cobwebs and ramping up for another active 2017.
FTA Board strategy offsite
The board met face to face last Friday and Saturday to discuss the Association’s progress and begin the strategic and financial planning process (the board frequently discusses strategy but formally updates the Association’s strategic and financial plan annually).
We received an in-depth presentation from our customer experience consultants, Proto Partners. I believe I speak on behalf of all directors by mentioning how impressed we were with their work for the Association
Thanks to our work with Proto Partners:
- Our data integrity has skyrocketed.
- We now have one source of information from members
- We have retired several non-integrated, legacy IT systems
- We have a quick, easy platform to collect data, which is then mapped to specific member profiles.
- We also have great data analytic tools and processes
What this means for you as members, is an Association that understands member needs and can design content and services accordingly.
For this planning cycle, we aim to focus on discovering the best ways to harness these insights and the best tools to improve your member experience.
PWC Global Treasury Benchmark Survey 2017
PWC recently released the latest edition of their global Treasury Benchmark survey. Based on responses from 220 respondents, the report gives good insight into key focuses, challenges and priorities within the treasury space.
The key messages:
- Treasury operations are increasingly virtual, with only 33% of people involved in treasury processes reporting to the treasurer. This is due to the continual evolution of operations including shared services and payment factories
- Treasurers continue to be invited to play a broader, strategic role. The right operating model, automated processes, and an evolving suite of capabilities, including the ability to collaborate widely across the business is key to realising the potential value from treasury
- Cash flow forecasting is the top of the treasury agenda for both CFO’s and treasurers. But basic issues such as data collection and mapping, data accuracy and methods of analysis/forecasting need resolution
- 19% of treasurers list cybersecurity as a critical concern and 45% of CFO’s name cybersecurity as a priority
Access the full report via this link:
A special mention and thanks goes to Ashley Rockman from PWC for providing the survey.
FTA Technical Committee
Late last year the FTA called for applications for positions on the National Technical Committee. We received strong interest. Pleasingly, we have been able to accommodate that interest as the committee recently approved a number of new appointments. At the same time, a few long serving committee members have decided to step down.
Its so good to be able to provide this rotation as it gives our highly valued and experienced volunteers a much needed break yet at the same time, provides opportunity for others to get involved. Gradual rotation ensures we get the right balance between continuity of service, experience and fresh thinking.
Congratulations to the new members of the FTA National Technical Committee. We look forward to your valuable contribution.
For those members stepping down, (many after a long period of service), I would like to thank you for the time and energy you’ve given to the FTA. I hope you’ve enjoyed the experience and continue to be engaged with the Association in other forums.
We also thank all applicants for their interest in the committee positions. Even if you were not successful this time, we hope you continue to express your interest with the Association. There are many areas where we can benefit from member involvement and opportunities arise frequently.
Finally, I’d like to thank Steven Cunico, National Technical Committee Chair, and Peter Chapman, our CEO, for their hard work in updating the Committee Charter and running the application process.
Mike Christensen FFTP