In many corporate finance departments, siloed data, systems, and processes hamper communication and hamstring efficiency. Treasury groups that can tear down those silos not only provide better support to the company, but also position themselves to play a more strategic role in the organization.

At DFC Global, an international, nonbank financial services business, the treasury team played a leading role in an initiative to streamline processes from cash forecasting and financial risk management to reconciliations and accounting. The team also became a strategic partner for business units looking to grow through mergers and acquisitions (M&A) or even develop new product offerings.

Treasury & Risk talked to Eric Erickson, the company's senior vice president and corporate treasurer, about how he has overseen the evolution of his function over the past two years.