ComplianceJune 05, 2020

Protecting value in times of crisis

In the May/June 2020 edition of Treasury Today magazine, the feature article is on building connections beyond treasury in organizations during a crisis situation such as the current COVID-19 pandemic. George Dessing, Executive Vice President Treasury & Risk, Wolters Kluwer, was asked for his expert opinion.

As treasurers, the first calling in the current environment is to protect the business from financial harm. Of course, it’s what treasurers always do, but achieving this in a more effective and efficient way is essential now. Experts from various organizations, like Deloitte, Bank of America, Equiniti Group, Plexus Worldwide, Knorr-Bremse, and Wolters Kluwer share their perspectives in this article.

George Dessing loves his job, but also likes to look beyond the parameters of treasury to support the wider organization. In this extraordinary time, Dessing’s areas of focus also includes incident management, helping to build the company’s regional incident strategy, action and communication plans.

Dessing specifies his arguments, mentioned in previous Treasury Today articles, that treasurers need to be visible in order to support business growth in times of crisis by being:

  • Prompt
  • Proactive
  • The guardians of cash 
  • Open minded
  • Passionate and caring for employees
  • Team players

In practice during the current crisis this means - amongst other things – that securing liquidity and cash flow should be at the forefront, along with driving awareness of fraud risk, and staying in contact with all stakeholders. As new trends around consolidation, bankruptcies, and restructuring emerge, new opportunities for larger (digital) companies open up.

Read more about how George links these characteristics to the current crisis in the Treasury Today article (free registration required).

About Wolters Kluwer

Wolters Kluwer (WKL) is a global leader in professional information, software solutions, and services for the health, tax & accounting, governance, risk & compliance, and legal & regulatory sectors. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with specialized technology and services.