Companies dragging heels on treasury functions: PwC
PwC says lessons of the crisis have not been learned, with more than 80% of companies polled reporting that treasury department budgets have not increased
Less than 20% of companies have increased spending on their Treasury
functions, despite their success in combating the financial crisis, PwC has
found.
The key role played by company treasury teams in seeking to combat the
devastating impact of the global financial crisis has placed them firmly on the
boardroom agenda.
But there remains a major concern that lessons of the crisis have not been
learned, with more than 80% of those surveyed reporting that treasury department
budgets have not increased, PwC reported.
The firm’s “Global Treasury Survey 2010: Can the crisis make treasury
stronger?” polled nearly 600 corporate treasurers in businesses around the
world.
“The challenge for corporate treasurers now is to take advantage of the
opportunity created by the financial crisis to boost their influence within
their companies,” said PwC treasury solutions leader Sebastian Di Paola.
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