When it comes to what chief financial officers and treasurers value the most from service providers, nothing beats responsiveness. This is one of the preliminary takeaways from the ongoing Voice of the Client phase of The Asset Triple A Treasury, Trade, Sustainable Supply Chain and Risk Management Awards 2022.
This quality is especially valued during Covid times as service providers who in the past would travel to meet with CFOs and treasurers need to rely on other forms of communication to keep in touch – such as via digital video conferencing platforms. Indeed, despite the difficulties of the moment, CFOs and treasurers of some of the largest companies are able to conduct extensive reviews and requests for proposals via digital channels.
Responsiveness, however, can only go so far without another important quality: knowing the clients’ business. In other words, it is being able to recognize the pain points a CFO or a treasurer is faced with, especially as the business evolves, pivots to embrace digitization, and adopts revamped business models. Indeed, technology adoption is accelerating beyond the treasury function.
While bank service providers have upscaled their digital offerings as a result of Covid, being able to provide advice ahead of presenting workarounds, whether it is to provide visibility, agility, and/or control, requires an in-depth understanding of where the CFO or treasurer is coming from. Being relevant, therefore, leads to satisfied clients.
As part of this year’s awards, The Asset will be publishing regular updates on the tabulation of the Client Satisfaction Index (CSI) based on CFOs, treasurers, and treasury managers’ responses from the Treasury Review 2022. CSI will feature also CSI Value, which is the quality score given by CFOs and treasurers based on the Treasury Review and one-on-one calls. Rankings will cover both multi-market providers for multinational and large local corporates. The CSI will be updated when new results from the Treasury Review 2022 are received.
To join the Treasury Review 2022, please click here.
