The current business environment is marked by uncertainty, and the demands on all corporate teams, including treasury, continue to grow. As a result, treasury's contribution to the organization has become more holistic than ever before. And as the "2022 AFP Strategic Role of Treasury Survey," supported by Marsh McLennan, reveals, maintaining a high-functioning treasury team that can leverage processes and technologies to effectively execute core areas of responsibility is critical.

"Against a landscape of global supply-chain challenges and record-high inflation, treasury has an opportunity to rise to the occasion and provide sought-after guidance and expertise," says Jim Kaitz, president and CEO of the Association for Financial Professionals (AFP).

The Evolution of Treasury

Treasury teams are increasingly finding themselves supporting other corporate functions, which highlights how their role has expanded into areas that did not traditionally include treasury. According to the AFP survey, treasury supports business continuity planning at 82 percent of organizations. Eighty percent of treasury professionals who responded to the survey are now supporting accounting and SEC compliance, and 76 percent are supporting financial planning and analysis (FP&A).