With globalization becoming increasingly important and pervasive, companies are expanding into new geographies, but unfamiliar territory inevitably carries risks, and treasury shoulders the burden of understanding and mitigating those risks. Today's cutting edge treasurers must grasp tax, local regulations and legal issues quickly and leverage that knowledge to build efficiencies into the financial supply chain of the growing company. The cutting edge treasurer is essentially a polymath, no longer operating in an ivory tower, separate from the operational functions of the business. Treasury is now a multi-faceted and proactive source of financial expertise and, in many cases, a core profit center. These cutting-edge treasurers are also lobbyists, working to remove obstacles to efficient financial operations and participating in standards development for treasury, including message formats and new payment instruments.
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