Treasury Outsourcing Update

October 30, 2020

Despite the impact of the COVID-19 pandemic on our societies worldwide and the consequential impact on global economics, the treasury outsourcing activities at FTI Treasury have gone from strength to strength. While we support our clients in managing the unprecedented consequences of these challenges, the treasury outsourcing model has demonstrated its resilience and its robustness in this time of crisis. 

From a client corporate treasury perspective there is enough to contend with, without have to be worry about the reliability of operational activities. Continuous investment in our technology infrastructure in recent years meant that our people easily migrated to working remotely since the end of February. Supported by a secure hosted technology platform, FTI personnel deliver solutions using a state of the art and flexible technology architecture – Round 1!

Round 2! – concerns of control and cyber-risk for organisations operating in a new remote working environment have always been at the forefront of our process and delivery design. We are pleased to report that our annual SOC 1 SSAE 18 Report, which was concluded during the COVID-19 summer, again identified no exceptions noted.

Round 3! – at the end of the day all services and production are dependent on people. The COVID-19 challenge is to ensure that our people are kept safe and well. We have adopted strict protocols to de-risk the business from a systemic virus impact by separating into two teams that do not crossover. We strategically use remote working as a key virus risk response tool, apply social distancing and healthcare guidelines at our office and align our response with the strict government COVID-19 response framework of the Irish Government. This allows parameters to be establish for attendance in  our office on designated days depending on the current level of community virus risk because we recognise that there is a desire from some to be able to work in a hybrid (mix of remote and office) manner.

Last Round (for now)! – despite these challenges, the catalysts for a treasury outsourcing solution continue. Two of the main reasons that trigger an interest are company spin offs (who need a new treasury operational in a short space of time), and Regional Treasury Centers to manage IHB’s and European and international treasury activities. We are also rolling out a number of cash flow forecasting solutions for clients for the obvious reasons (see our Cash is King news item).

 Meanwhile, we simply wish that everyone stays safe and well and we look forward to the occasion when we can meet in person and have a real conversation.