July 25, 2014
Treasurers who measure bank performance get the best value for money
London, UK – Corporate treasurers with a formal process for measuring the performance of their banks give their banks the highest ratings in terms of value for money (vfm). This is the key finding of a recent survey by EuroFinance, the global specialists in treasury research and events.
The survey showed that 71 per cent of corporate treasurers believe that all or a majority of their banks deliver vfm. However 58 per cent of companies either have no formal measurement process for bank performance, or do not measure performance at all.
Companies who measure performance with metrics rate their banks’ performance highest with 88 per cent, stating that all or a majority of their banks deliver vfm. This figure drops to 54 per cent for companies who do not measure bank performance.
‘This is encouraging news for banks,” says Katharine Morton, editorial director of EuroFinance. “However the survey also showed that there is little consistency in how corporates measure performance, so determining consistent metrics and how to measure them is key”.
The survey was completed by 214 members of the EuroFinance Corporate Treasury Network. It was part of the ‘Bank Relationships Project’, an initiative to identify and promote best practice in bank relationship management.
To access the full report complete with all the findings please visit: www.eurofinance.com/bankreport