As opposed to bankers and brokers, corporate treasurers often work on a stand-alone basis in an environment with fluctuating money markets, changing tax and legal rules, and core business decisions that have to be adequately supported by the treasury function. Since financing costs have a direct impact on profit before taxes—and even more so on after-tax profit—the corporate treasurer has to set up and monitor the company's treasury policy and cash management system, as well as finding the appropriate funds at the lowest possible cost, always taking account of the changing environment. But consider, for a moment, the myriad problems and issues that you, the corporate treasurer, have to deal with: you have to perform assessments of financial risk management processes and controls; and, if your company is involved with a merger or acquisition, you not only need to have a firm grasp on the durability and robustness of the treasury control environment, you may well be called upon to and the need to harmonise financial policy; you also have to direct your intercompany balances/netting and help you leverage the cash and risk management data to improve liquidity returns and reduce working capital. We could go on, but you get the point.
If this is your situation:
- You need to know how to locate your treasury vehicle.
- You would like assistance in drafting your treasury policy.
- You want to know how to define your funding requirements.
- You need advice on how to efficiently allocate and use funds borrowed within your group.
- You must find a way to more efficiently manage your liquid funds.
- You require help repatriating you profits in a tax-efficient manner.
- You advice on how to invest surplus cash.
- You are asking your people “How do I benchmark my cost of funding”, but they don’t have an answer.
- You need a means to monitor regulatory changes.
- You have a great need to hedge your foreign exchange risk. How do you do it?
How PwC can help you
At PricewaterhouseCoopers (PwC) we can provide you with comprehensive tax, legal, financial, accounting and risk management services and solutions to help you deal with today’s financial challenges. In fact, our experienced professionals posses a broad range of complementary treasury, banking technology, taxation, accounting and programme management skills—all of which we can put at your disposal. Offering integrated guidance from tax, legal, financial, accounting and risk management points of view, we can help you set up low-cost financing structures, properly set up a cash pooling policy and system, repatriate profits in a tax-friendly manner, and show you how to borrow money at lower rates (with an efficient foreign exchange risk hedge). Our people can also help you manage and minimise the withholding tax leakage on cash flows, maximise VAT/tax planning on factoring activities, and use double-dip financing structures. And, if that weren’t all, we can also assist you in maximising your interest cost deductions and minimise the capital duty cost on equity financing. Call us and we can put at your disposal an active network of professionals highly specialised in such areas as international tax structuring, mergers & acquisitions, financial services, VAT and legal issues, and risk management concerns. it’s all part of our dedication to providing innovative viewpoints, independent advice, and support in developing and optimising your treasury operations so you can better meet the changing requirements of your businesses.
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