This was just one of a series of telling indicators that corporate treasurers are addressing the implications the internet has on treasury functions.
The poll, conducted at the Treasurers’ Forum in Paris, explored business issues affecting the treasury functions of companies. And 43% of the delegates indicated that the cash management activities of the treasurer were most affected by e-business, while 21% of respondents claimed e-procurement was the most important issue.
Debbie Anthony, Arthur Andersen’s head of treasury tax solutions group, said: ‘The exponential growth of web-based transactions is creating new challenges for corporate treasurers. Treasury activities are required to be more flexible and are increasingly becoming more involved with procurement, as well as sales issues.
‘E-business is creating opportunities for treasury centres to add value to companies’ internal processes. The internet and e-commerce undoubtedly provide a tremendous opportunity for business but they should not be viewed as a panacea for all companies.’
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