The treasury function has a well-deserved reputation for running lean. There are certainly notable exceptions, but among most companies—even multi-billion–dollar enterprises—treasury usually has few dedicated team members. Five, three, one, or perhaps even zero individuals have a full-time focus on the complexities of managing cash flows, working capital and payments, financial risk, and all the other myriad areas of financial management that require a treasury professional's input.

"Do more with less" is the mantra across most treasury teams—and that challenge is magnified in small to midsize businesses. Even though an organization might not have the staff resources of a major multinational, it certainly has the same need for effective treasury operations.

For Lithko Contracting, a midsize concrete contractor based in West Chester, Ohio, the key to optimizing the effectiveness of a lean treasury organization is to push decision-making to the people on the company's front lines. "Treasury and finance managers should trust the people who are closest to the action and give them the tools that they need to be successful," says Ben Cutting, Lithko's CFO.