In a recent Bank of America Global Treasury Services (GTS) survey, treasurers who rated their corporation’s performance as sub-standard in key working capital areas blamed the degree (or lack) of influence that treasury has over payables, receivables and inventory. More than 30 percent of all treasurers surveyed complained of sub-average influence on the payables cycle, and the corresponding figure for inventory was over 60 percent. When asked what they feel are the principal barriers to increasing internal liquidity, 50 percent of respondents cited lack of coordination across working capital processes as a factor. ‘A number of respondents cite lack of commitment from senior management as the key barrier to effecting improvements in working capital management. As with most corporate initiatives, if the boardroom approval is lacking, making any appreciable headway on liquidity issues will always be an uphill struggle. While many treasurers have diligently attempted to educate the rest of the corporation as to their role, this perhaps isn’t having sufficient impact on the boardroom,’ said David Jackson, Bank of America, Global Treasury Management.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.