For the past two years, it has felt like we've been living in a state of constant crisis. From the global pandemic and massive supply-chain disruptions to rising inflation and cost of living, to large-scale cyberattacks that have stopped businesses in their tracks, numerous unexpected events have threatened operations in organizations large and small, in every part of the world.

The importance of operational resilience was already clear at the start of this year. Then Russia created a new geopolitical crisis by invading Ukraine. That war has presented multifaceted challenges for global businesses. Depending on the organization, the conflict may threaten employees' safety, create problems in the supply chain, or depress demand for the company's products and services.

Since February, corporate treasury teams have been assessing the immediate and potential future effects that the Ukraine invasion may have on their organization. They should also have been taking swift action to mitigate those expected effects. Corporate adaptability and the flexibility to quickly make informed decisions are more vital today than ever before.