The amount of time thatU.S.-based finance executives devote to international affairscontinues to increase. According to the Bank of AmericaMerrill Lynch 2015 CFO Outlook, 54 percent of companies havesome involvement in foreign markets and 75 percent are operating intwo or more regions. The top geographic destinations for newoperations are Latin America, Asia, and Europe, in nearly equalnumbers.

However, despite the number of organizations moving overseas,establishing overseas operations is not, by and large, a simpleproposition. As companies expand abroad, finance executives findthemselves managing entirely new challenges and risks that comefrom exposure to new markets, while they must continue tosuccessfully execute their business strategy. To mitigate some ofthese challenges, finance executives need new strategies fortreasury management, strategies that encompass major operationalrisks from exchange rate volatility to payment preferences ofcustomers.

Even though every company's situation is different, bestpractices in building a truly global treasury organization includethe following: