What treasuries should excel at will depend on their business context. In Vinted’s situation, a focus on agility may seem natural – building the function from scratch to support the company on its crazy growth trajectory. Agnė Masiulytė joined the company in late 2020.
Not yet able to get debt financing on favourable terms, Vinted has, accordingly, no debt yet to manage. But the early objectives included an attempt to get better control of a scattered bank-relation structure and all bank accounts. That proved easier said than done, and Vinted came to go instead for a global banking partner to cater to the needs outside Lithuania. Non-used accounts were closed, and an effort was made to get fully on top of foreign-exchange exposures, whether visible or hidden.
A plan to become a digital, scalable and value-enhancing treasury by end of 2024 was established.
One important element has been to select a treasury management system (TMS). In the player bar, click the white dot at 21:14 to hear Agnė describe the system selection process in detail.
The beginning of the session sees Esther Goemans-Verkleij of advisory firm Orchard Finance line out a framework for the activities that can go into a treasury function.
Treasury 360° Nordic 2022, on 9 June, gathered nearly 300 delegates at Clarion Hotel Copenhagen Airport, and 100 online.
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