The treasurer’s main task is to ensure the profitability of a company’s project. Not only will he/she increase your turnover, but he/she is also very competent in managing cash flow risks by helping you to invest your capital properly.
What are the treasurer’s tasks?
The treasurer has multiple skills. To begin with, his or her main tasks are to ensure the security of cash flows, to manage risks and to analyse the economic and financial commitments of a company. In a narrower sense, he manages flows and balances, i.e., he has to check that there are enough resources to finalise a project while analysing the risks of investments. To continue, he makes strategic forecasts of the budget and cash flow. Then, he/she establishes the planning of the general management in order to facilitate decision making. Eventually, he is the main representative to manage banking relations. The treasurer also researches and deals with the investments that the company needs to make in order to get the maximum benefit from a product placement. This person is highly qualified at managing risks while optimising a company’s financial expenses and income.
Why is it necessary to hire a treasurer?
It is necessary to work with a treasurer in order to increase turnover. This expert calculates and facilitates decision making for the managers. Therefore, he or she plays the role of an advisor within your company. In the event of management problems, or if your company is almost bankrupt, the treasurer will be able to keep your company going. Treasurers are often hired to anticipate cash shortages by adjusting financial flows. These skilled individuals can also make your projects more profitable while adapting to your budget. Overall, many companies hire them to perform activities in the field of economics, marketing, and management. The accountant works only on the commitment and regularity of the company, while the treasurer works on the commitment, reliability of the company and management of the treasury.
How to choose a treasurer?
The main concern for companies is often the choice of a good employee. In this case, you will need to choose a multi-skilled individual who has undergone formal training. The treasurer should have either a Bachelor’s or a Master’s degree. He or she should have a good command of accounting, treasury, management, auditing, economics, finance, etc. Your choice also depends on your budget and the company’s needs. A person with a MIAGE training could be very beneficial for your company.