Corporate treasury cash management is changing to take a much more strategic role in the business. What was once a straightforward ledgers-and-ink position is becoming more strategic and evolving with the changing nature of business, from multinational expansions to a heavier reliance on cloud computing services. Here are five of the top drivers that will change the role of corporate treasurers.

1. Companies want new sources of growth. Despite a sluggish economic recovery, organizations need to grow their revenues. This will shift the treasury role into a more strategic position. Some treasurers may find themselves working with financial control, human resources, investor relations, operations, and other areas of the business to find new opportunities and boost the company's cash flow.
2. More companies are going global. Part of the strategic focus of corporate treasurers is going to include how to provide centralized, real-time treasury cash management capabilities to the rest of the decision-makers in the business, as well as integrate currencies and international platforms into one location for easy access to the business's finances.
3. Companies need better data. Green ledgers aren't cutting it in today's world; corporate treasurers know that their companies need insight into treasury cash management across multiple locations, including international locations. As part of the more strategic focus of the corporate treasurer's role, that will include being able to predict cash flow and liquidity, as well as track existing cash.
4. Corporate treasurers will need to rethink their relationships with commercial banks. Instead of just processing transactions, commercial banks will become more of a strategic partner to the treasury department. This will mean full visibility into accounts, even if the accounts are spread out over several banks. Commercial banks will most likely offer cloud services to do this, which will become a critical component of treasury cash management, as will better integration with existing corporate financial software.
5. Technology will speed the treasury cash management process. Along with commercial banks providing cloud-based software that better integrates with corporate financial software packages, automation technology will streamline the cash management process. Cycle times and staffing needs will be reduced, freeing up the treasury department for more strategic initiatives – and for the meetings they'll need to have with various business departments to meet the changing requirements of their role.

For corporate treasurers, this shift in the role can lead to new opportunities to become less of a service to the organization and more of a strategist.