For over 20 years, Ilfa has been providing treasury services on a daily or weekly basis for businesses and non-profit organisations. We offer our clients a full-fledged treasury function without lengthy implementation, expensive systems, or high costs. In short, each client is equipped with its own team and a fully equipped treasury management system, tailored to the complexity, ambitions, and needs of the enterprise. We call this treasury as a service.
To clearly define the tasks and responsibilities after the transfer, we have developed an approach in which the entire treasury process is divided into clear steps. Together with the client, we easily determine who does or will do what, when, why, and with what. These agreements are customer-specific, and because of this setup, scaling up or down can be easily done as circumstances change.
From experience, we know that this approach works for any type of company or organisation, regardless of size and complexity. Our approach also works when designing or restyling a treasury. In all cases, special attention is paid to interaction with other business units. It is ensured that the treasury has timely access to the right information so that attention can be focused on managing financial risks. Notably, our systematic way of working also ensures a transparent and well-auditable process. The quality and integrity of actions are guaranteed, something we must continuously demonstrate to the Netherlands Authority for the Financial Markets (AFM).
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The steps
We have divided the treasury process into six clear steps. A new process always begins with determining the actual position. Before the treasury can take action, the current financial position, future expectations, and the potential impact of developments must be mapped out. If there is no clear picture of the actual position, adjusting may actually result in more rather than less risk.
If it is determined that adjustments need to be made, transaction preparation follows. The conclusion of the position determination is translated into concrete (trans)actions. This can involve anything from a simple adjustment of balances in various bank accounts to entering into a new financing arrangement. The actions always fit within the company's treasury policy.
The proposal from transaction preparation is presented to the authorised persons in the authorisation step. Before proceeding with the execution of a transaction, a fully and correctly documented and signed proposal must be available. The actual execution may vary depending on the type of transaction, but the four-eyes principle will always apply.
After the actual execution of the transactions, everything must be administered and then reported and archived in accordance with protocol. Then the process starts again, as there must always be a clear understanding of the current position and potential opportunities and threats.
Through our approach, organisations can have access to:
Through our approach, we can perform treasury tasks for all types of organisations after a short implementation period and at limited costs. An example of an organisation that has outsourced treasury activities to Ilfa is Nationaal Restauratiefonds. Read more about our approach and treasury as a service for Nationaal Restauratiefonds in our article Nationaal Restauratiefonds, 5 years of outsourcing to Ilfa.