Excel is the world’s most popular spreadsheet, among both individuals and companies. Finance teams in particular rely on Excel for a variety of tasks, many considering it a vital accounting and finance tool. This is primarily due to its flexibility, availability, and, let’s be honest, because it has been ingrained in finance work practices for decades.

As companies grow, so do their cash management requirements. This leaves CFOs and treasury teams with new challenges to deal with. They need to manage multiple accounts across multiple currencies and geographies, ensure optimized use of financial instruments like credit lines and investments, gain control of their liquidity status, forecast cash flows, and more. The cost of an error is high, which is why many teams turn to cash management solutions at this stage.

Here’s what controllers in lean pre-treasury teams need to know about taking ownership of treasury management