TMCnet News
AFP Whitepapers Outline Best Practices for Treasury Transformation in the Asia-Pacific and Middle East and Africa RegionsThe utilization of expert guidance, technological capability and investment in staff development are key focuses in APAC, while clear objectives, optimized operations, team empowerment and meaningful project evaluation are key focuses in MEA. ROCKVILLE, Md., March 26, 2024 /PRNewswire/ -- The Association for Financial Professionals (AFP) has released two whitepapers, "Treasury Transformation: Insights from Asia-Pacific (APAC)" and "Treasury Transformation: Insights from the Middle East and Africa (MEA)," both underwritten by Standard Chartered, to provide a framework for managing any type of treasury transformation project. Commenting on themes that emerged from the 2023 AFP Treasury Benchmarking Survey on Treasury Transformation, the two whitepapers identify best practices for treasury transformation in each of their respective regions. In the APAC region, three keys to a successful treasury transformation project include:
In the MEA region, four best practices for treasury transformation include:
"While corporates have different reasons for transforming their treasury function, the one consistent takeaway from our clients who have successfully done so is the need to understand and stay focused on the core objectives of the transformation," added Syed Khurrum Zaeem, Head of Transaction Banking, AME from Standard Chartered. "Working with a partner who has the local know-how and is able to share this knowledge and experience can be extremely valuable, especially when growing the business to new markets." "Given the specific requirements of individual companies and varying market conditions of jurisdictions, treasurers face a wide range of challenges when it comes to treasury transformation," said Patrick Culkin, Executive Vice President of AFP. "The best practices outlined in the two whitepapers can help treasurers in the APAC and MEA regions successfully implement treasury transformation projects of all types." The 2023 AFP Treasury Benchmarking Survey on Treasury Transformation was undertaken in September and October 2023. Within the APAC region, the survey garnered responses from practitioners in 11 countries, with the majority working in publicly owned corporations. Within the MEA region, the survey garnered responses from practitioners in 17 countries, with the majority working in privately held corporations. Please direct all press inquiries to Melissa Rawak, AFP Managing Director, at [email protected]. About AFP® About Standard Chartered We are a leading international banking group, with a presence in 53 of the world's most dynamic markets and serving clients in a further 64. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, here for good. Standard Chartered PLC is listed on the London and Hong Kong stock exchanges. View original content:https://www.prnewswire.com/apac/news-releases/afp-whitepapers-outline-best-practices-for-treasury-transformation-in-the-asia-pacific-and-middle-east-and-africa-regions-302097069.html SOURCE Association for Financial Professionals |