Execution, consistency and advice win the day for CFOs and treasurers

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During the last weeks of The assetTreasury Review Leaderboard 2022 Weekly Update, CSIvalue Rankings, CFOs and Treasurers have shared what is considered when choosing a banking partner for their day-to-day transactional needs.

Areas such as the bank’s understanding of its business and the agility of its technology stack were popular responses from the Asset Benchmark Research (ABR) team.

Other comments from treasury management professionals focused on how service providers could retain business amid growing competition from other providers, all eager to gain share of the wallet.

With the release of the Treasury Dashboard in its penultimate week, an important area valued by CFOs and treasurers based on ABR findings has delivered on promise and not too promising.

Beyond the tech buzzwords of API connectivity and blockchain, the companies ABR spoke to were most satisfied when their banking partner was able to showcase the promised tangible benefits in their operations.

The key to enabling this kind of customer satisfaction is a comprehensive and standardized system of customer service in different markets. While many banks emphasize the strength of their regional and global footprint in serving multinational/LLC customers, consistency of service is often lacking, especially when a company is not considered a significant player in the market. .

A CFO of a large public company, for example, told ABR that in his home market he had a dedicated relationship manager he could talk to for his cash flow needs, while in other markets he had to go through a general hotline. if problems all occur with the same bank.

The consistency of service across multiple jurisdictions is partly due to strong banking operations. It’s not necessarily about technology, but about streamlined, streamlined workflows so banks can reduce the amount of paperwork needed to fulfill funding applications, for example.

On several calls from the ABR team, clients said they appreciated banks being flexible in their internal processes. For example, regarding vendor financing programs, a treasurer commended her bank for creating an online portal that made it easier for her vendors to apply for funding without having to fill out physical forms or requiring her vendors to open an account with their bank.

In addition to delivering what was promised and maintaining consistency in customer service, other companies cite banks that were able to go the extra mile, providing timely advice on regulatory changes and how this could possibly have an impact on their activities.

Examples shared with the ABR team include how a bank was able to speak with financial regulators in India to help a struggling business heavily impacted by the ongoing Covid-19 pandemic secure offshore financing to stay in business. flow.

The same goes for other examples in mainland China where several banks were able to provide advice on which cross-border renminbi structures would be best suited for corporate clients.

While traditional cost and technology expertise remains an important factor for CFOs and treasurers in selecting their banking partner, to maintain a long-term relationship with corporate clients, banks must demonstrate value measurable.

The publication of The Asset Treasury Review 2022 ranking is in its penultimate week. However, the survey, which forms the basis of the weekly rankings, will continue until May 2022.

The 2022 Asset Cash Review is a component of the annual Asset Awards for Cash, Trading, Sustainable Supply Chain and Risk Management. In promoting industry best practices, your perspective is important. CFOs, treasurers and cash management professionals can participate in The Asset’s Treasury Review 2022 by clicking here.

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