According to statistics from The Conference Board, the global economy has yet to recover from the worldwide Great Recession resultant of the economic oversights of 2008 to 2009. In fact, growth in all advanced economies is not set to pick up until 2014. Businesses looking to recover from the crisis of the last five years need to do whatever they can to manage financial risks and weather the storm.
Professionals who have been educated to work in treasury management services can offer businesses across the world the ability to manage their risks while simultaneously seeing growth. Read on to find out how.
Why Are Treasury Management Services Important?
Finding a certified treasury professional CTP grants businesses improved finance risk management and improved economic viability in two key ways.
- Knowledge of Risk Management
- Tax-Cutting Expertise
Risk management is the systematic process by which company specific risks are identified and guarded against. Since the mid-1970’s, treasury management services professionals have been seeking a wide variety of business certifications in order to help businesses of all types weigh their risks against their potential gains. Subsequently, treasury management services have evolved into a staple for almost every large business across the globe. Consider the issues JP Morgan is having. They recently lost over $10 billion as a result of poor risk management. Professionals offering treasury management services can help businesses avoid that same fate.
Much of the training certified treasury professionals undertake, whether at school or through financial seminars, is meant to teach them about taxes. Subsequently, treasury management services offer businesses the ability to cut down on their taxes to only the costs they are required to pay under the law.
How to Choose the Best Certified Treasury Professionals
Of course, as in any other field, not everyone working in treasury management services is equally qualified. Businesses looking to find the best risk management professionals need to look for two main things. Firstly, they need to make sure their treasury management professional has their CTP certification.
Secondly, they should consider what supplementary training their certified treasury professional has received. For instance, has your risk management team been trained on ISO Guide 73? This international standard guideline contains a large amount of risk management vocabulary that is important to their success. Further, what sort of conferences have they attended? Financial conferences are the best way professionals can be informed about finance managing and safe budgeting techniques as they evolve.
Any business looking to come out on top of the continuing effects of the Great Recession can benefit from the use of treasury management services. As can be seen, they not only help to manage risks and protect the business from losses, but they also help to cut down tax costs. However, since not every professional can be of the same quality, businesses need to look into their professionals’ resumes to ensure they get only the best. Read more blogs like this.