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Treasury: A Strategic Partner June 21, 2013
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1 Agenda Introductions Who We Are Evolution of Treasury’s Role as a Strategic Partner Kforce’s Treasury Model Impacts Keys to Success
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Introductions Jennifer Specht Sr. Director – Treasury and Processing Services 2
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Who We Are Kforce Kforce is a full-service professional staffing firm that provides contract and direct hire staffing solutions for hiring organizations and career management for job seekers. At Kforce, we believe that Great People = Great Results. By understanding what drives our specialty industries, becoming involved in our communities on a professional and personal basis, following a disciplined process of identifying quality candidates, partnering with employers to understand their core business and their employment requirements, and delivering exceptional service, we achieve great results for all concerned. Kforce’s 1,900 staffing specialists operate 62 offices in 41 markets in North America and one in the Philippines, bringing the value of 50 years of experience to your staffing and career development needs. 3
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Evolution of Treasury’s Role as a Strategic Partner Traditional Treasury Viewed as tactical member of the finance team Responsibility for management of daily cash positions, liquidity and minimizing risk to the company’s financial assets Important but hidden Reason’s for evolution of treasury’s role New market dynamics Emergence of new technologies and processes Business leaders seeking complex cash flow, funding and risk considerations into management decisions Materialization of new and increased risk Need for better and sophisticated understanding of credit and market risk Treasury’s new role Fully integrated financial nerve center Support M&A decision-making Enterprise-wide working capital management End-to-end process transformation Value-based management Broad business thinkers 4
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Evolution of Treasury’s Role as a Strategic Partner “Treasury used to spend the majority of its day on cash management. Then we implemented treasury technology and became more efficient, which allowed us to pursue other projects, meaningful projects such as economic analysis on key industry indicators, competitor analysis and M&A analysis. That helped deliver value to other parts of the organization.” - Treasury Cash Operations Manager, Pulte Homes “Every function of an organization starts and ends with cash, giving treasurers a great excuse to get involved in the business.” - Rebecca Flick, VP and Treasurer, The Home Depot Inc 5
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Kforce’s Treasury Model Responsibility Scope Treasury Banking relationships Capital structure Cash management Working capital management Accounts Payable (DVA) Corporate Tax Payroll and Employer Tax Procurement & Real Estate AR Portfolio Role Participation/Representation in all significant Firm initiatives Projects (process and technology) M&A & Stock repurchase Strategic Direction Forward leaning department on process efficiencies and automation Integrated with business units and other financial partners 6
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Impacts Overall: More accurate and timely cash flow forecast Incorporation of one time or unforeseen payments Greater working capital optimization Ability to trend and incorporate economic dynamics and business cycles Agile & flexible Value Creation Incorporation of best practices Operating with a bias for exceptional service and delivery Effective operational controls Automation and process efficiencies Focus attention on analysis Eliminate non-value added activities Simplicity Continuous process improvement 7
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Keys to Success Partnerships Develop partnerships and communicate with business partners Establish recurring one on ones Sharing of information Identifies redundancies Use your networking connections Have a transformation mindset Be open to change and challenge S.A.L.Y Don’t be complacent Change with the times Identify areas for improvement or optimization Volunteer ideas and organize a working group Think Firm not only department Tackle challenges one slice at a time Brain Trust Leverage and embrace technology Use your partnerships to evolve change 8
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QUESTIONS? 9
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