What are the main Benefits of an Interim Treasurer?

Recently we had a live session regarding Interim Treasury and its benefits. We were particularly interested in your opinions on the key benefits of an interim treasurer.

We partnered with Treasurer Search to host a live session, where we discussed the latest poll results, analyzed trends in treasurer voting, and got insights from treasuryXL experts Jermal McDaniel and François de Witte on the topic. You can access the recording of the session through this link.

Poll Results

Interim Treasury management is an essential component of corporate treasury, involving temporary management of treasury operations during leadership gaps or crises. Experienced interim treasury managers provide customized solutions and work closely with finance teams to ensure smooth operations, timely transactions, accurate reporting, and regulatory compliance. What do treasurers believe is the key benefit of an interim treasurer?

The treasuryXL poll had a substantial turnout, with 133 treasurers casting their votes. It’s great to see again such active participation in the community. Stay tuned for upcoming polls on treasuryXL!

Question: What are the main benefits of an interim treasurer?

First observation

The results show that the main benefits of an interim treasurer are the extra skills/expertise at 38% and continuity in change/absence at 31%. Transitional power (17%) and an objective financial view (14%) are seen less as the greatest benefits. Let’s find out what our treasuryXL experts think about interim treasury management.

View of treasuryXL experts

Jermal McDaniel

Jermal voted for the option extra skills/expertise.

“There are a handful of benefits that an interim Treasurer can bring on day one that will allow them to hit the ground running”

An Interim Treasurer can bring a host of skills beneficial to bridge the gap for an organization with the Treasurer position in flux. There are a handful of benefits that an interim Treasurer can bring on day one that will allow them to hit the ground running. Interim treasurers provide objective feedback and recommendations since they are not vested in the organization, and can be a cost-effective solution until a permanent treasurer is found.

My own experience with an interim treasurer was positive. I worked with an interim treasurer after the treasurer and CFO left the firm within a month of each other. The interim treasurer revamped departmental policies, reassured banking counterparts, and grew the treasury department. The interim treasurer eventually became the permanent treasurer, demonstrating the effectiveness of using an interim treasurer for departmental stability.

Soon a blog will be out on treasuryXL in which I will share more of my view on the subject, so stay tuned!

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François de Witte

François voted for the option extra skills/expertise.

“Interim treasurers are ideally suited as seasoned professional who can inmmediately jump into the job”

I recently spoke at the live discussion “Unlock the Benefits of Interim Treasury Management.” I hope you enjoyed the valuable session, you can watch the recording in case you missed it. Let me share with you my view on the topic.

Companies are usually looking at Interim treasurers in situations where either their treasurer drops out, due to e.g., a pregnancy leave or the departure of the existing treasurer. In that case, they need a seasoned professional who can immediately jump into the job, with a limited transition period. Interim treasurers are ideally suited for this, because they have a lot of experience in different companies, and can bring in extra expertise and skills, which can be beneficial for the company.

Another use case concerns companies who are reviewing their treasury department and wish to share the experience of an experienced treasurer, who can act as a consultant and coach of the existing team. He can also provide a lot of added value in treasury projects such as the selection and implementation of a TMS or risk management tools, or the set-up of an in-house bank.