The amount of time that U.S.-based finance executives devote to international affairs continues to increase. According to the Bank of America Merrill Lynch 2015 CFO Outlook, 54 percent of companies have some involvement in foreign markets and 75 percent are operating in two or more regions. The top geographic destinations for new operations are Latin America, Asia, and Europe, in nearly equal numbers.

However, despite the number of organizations moving overseas, establishing overseas operations is not, by and large, a simple proposition. As companies expand abroad, finance executives find themselves managing entirely new challenges and risks that come from exposure to new markets, while they must continue to successfully execute their business strategy. To mitigate some of these challenges, finance executives need new strategies for treasury management, strategies that encompass major operational risks from exchange rate volatility to payment preferences of customers.

Even though every company's situation is different, best practices in building a truly global treasury organization include the following: