Companies cannot afford for theirtreasury teams to be offline, without access to their systems, formore than a few hours. Treasurers should have a plan to ensuretheir teams are always prepared. There are multiple sources forbest-practice business continuity planning, including theAssociation for Financial Professionals (AFP).
The following tips are a good place to start in preparing yourplanning:
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1. Real-time response.
The need to manage and disburse cash never stops. Ensure thatyour treasury management system gives you access to cash at alltimes, with minimal to no downtime. If you use a cloud-basedtreasury management system, what is the up-time guarantee?
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2. Multiple timezones.
Many treasury teams are distributed across multiple continents,requiring remote access to treasury systems. How do you consolidatefinancial controls across time zones?
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3. Mobility.
Both treasury and the CFO may travel, and may require mobileaccess to treasury systems. What is the mobile access plan?
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