From trade issues to hurricanes, and from political upheaval tocybersecurity breaches and everything in between, multinationalstoday face dozens—or, more accurately, hundreds—of potential criseslurking in the shadows of global markets. These vulnerabilities putnot only revenue at risk, but also supply chains, investments,access to corporate cash, and even timely disbursements of paymentssuch as payroll for overseas employees.

"The last 10 years have been very interesting for anybody ininternational cash management," says Jim Scurlock, head of cashmanagement for Microsoft. Staying ahead of all the myriad risksrequires today's treasury teams to be vigilant about identifyingpotential exposures, to proactively intervene when possible, and tocollaborate with other groups throughout the organization.