Recognising the Best in Treasury Management

Treasury20 Conference & Felicitation Ceremony held in Delhi in June had many takeaways for the winners.

Corporate treasury has become an important engine of growth in global operations, putting the role of the treasurer under the spotlight. As the leader of this critical and strategic operation in the company, the new age treasurer is required to demonstrate finer treasury skills in areas such as funding, strategic cash management and risk management, as the entire business landscape globally is undergoing rapid changes.

The fourth edition of Treasury20 Conference and Felicitation Ceremony, a flagship event of CFO India, recognised and feted India’s top treasurers on 23 June 2017 at The Leela in Gurgaon.  Popularly known as T20, the event recognises 20 most promising treasury professionals from across the country for their contributions to the treasury role under different criteria. These leaders will shape the future of the corporate treasury in India.

T20 winner 2017 Deepak Kalera, Financial Controller, Quick Heal Technologies Ltd explains the changing scenario, “Treasury was a controlling and policing function. Its role was to minimise corporate risk by controlling cash inflows and outflows. Now treasury is seen as a support centre for the business – it helps manage the cash flows and integrates with the business to help the company work more efficiently and effectively.”

CFO India Editor Anuradha Das Mathur gives a warm welcome to the attendees and discusses the emerging dimensions of treasury.

Corporate treasury has certainly moved away from being “one terminal and a clerk” and moved on to becoming a strategic role enjoying  a seat in the C-suite. “Its responsibilities have broadened over the period of time. Two main areas that bring treasury into spotlight are cash management and supply chain sustainability,” explains Sushil Burnwal, India Treasurer, The Mosaic Company, and winner in the Risk Management category.

GLOBAL MARKETS OVERVIEW: IN A STATE OF FLUX?

2017 could well be billed as the year of flux. The fluid political situation in major economies around the world is giving jitters to the global finance community. While India is touted to be on a safe wicket with internal stability and markets gung ho, the threat of geopolitical turmoil could be the spoiler. As we are in the middle of the calendar year, it’s time to pause, calibrate and perhaps re-strategise for the year ahead. In his plenary note, Abheek Barua, Chief Economist and Senior Vice President, HDFC Bank told the gathering at the event how to read the global cues.

Abheek Barua, Chief Economist & Senior Vice President, HDFC Bank, speaks on the global challenges facing corporate treasury operations.

“This year was really a bad year for anticipating and protecting against risk because all of the earlier assumptions that you had made were reasonably globalised financial order of an inorderly trade system, that was being questioned and was a very big deal,” Barua shared.

Talking about the phase of secular decline in the dollar, he added: “I personally feel that it will be more marked against the G7 currencies. So, I think euro, for instance, has a way to go up, it’s still undervalued. Then you have yen and so on which might gain.” Barua feels India will gain at the margin and says: “All those in the business of forecasting are trying to bring this factor in and are looking at the possibility of gain in long term/secular rise in the rupee.”

India still remains the flavour of the month/season/year, according to Barua. “Essentially in competitive terms, Indian economy is doing very badly in comparison to its potential. All these revisions in numbers, in GDP data, lead to a situation where we really don’t know how well the economy is doing.”

But the fact remains that we are faring perhaps much better than the rest of the world. “The big competitor that we had (the heavyweight competitor) is China, which has lost much of its sheen. There are questions about China’s long-term growth prospects and we are in a demographic sweet spot, which some people see it as a dividend rather than a curse, but that’s the way it is,” he elaborated.

TREASURY 2017 PRIORITIES: EXTRACTING VALUE FROM FINANCIAL SUPPLY CHAIN

Prateek Chaturvedi, Senior Manager, Financial Risk Services, Deloitte India, speaks on how treasurers can unlock cash through financial instruments.

For the past three years, cash forecasting and financial risk management in that order have remained the top corporate treasury priorities across the globe. So, what is the role of treasury in monitoring and controlling working capital? Prateek Chaturvedi, Senior Manager, Financial Risk Services, Deloitte India, shared his insights on some financing options for the business value chain and how treasury can unlock cash through financial instruments.

Chief guest, Suresh C Senapathy, Board Member, Wipro Enterprises Pvt Ltd & Wipro GE Healthcare Pvt Ltd sheds light on the role of treasurers.

Suresh C Senapathy, who is on the Board of Wipro Enterprises (P) Limited since 2013 and Wipro GE Healthcare Private Limited since 1995, was the chief guest at the event. He concluded his keynote saying corporate treasurers need to think about their role in the fast-changing volatile world.

20 MOST PROMISING TREASURY OFFICERS

The 20 outstanding treasurers are selected through a stringent procedure judged by an eminent panel of CFOs and senior finance leaders. Here’s a look at stalwarts in the treasury domain for 2017:

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