Some of the biggest corporates, utilities companies, local government, and independent banking organisations in New Zealand and Australia have endorsed the value of treasury outsourcing after 18 months spent battling the impact of COVID-19.
In a recently conducted survey, outsourced treasury provider, ETOS scored an outstanding endorsement for its delivery of business continuity, mitigation of operational risk, and support of treasury staff to deliver BAU under disruptive and challenging market conditions.
The biggest benefits identified by the 49-strong group fell into three main camps:
- Risk mitigation (including segregation of duties) best practice operations and treasury compliance;
- Staff expertise, efficiency gains, freeing up internal resources to focus on strategic decision-making; and
- A reliable, timely Austraclear and energy settlements service.
Further breakdown shows ETOS scoring consistently highly for professionalism, quality of work, technical competence, communication, responsiveness, and service.
“Our team has worked hard to consistently provide best practice middle and back-office operational support to underpin client business continuity throughout the pandemic,” said ETOS CEO Bruce Edhouse. “We are delighted to get such a strong endorsement of our treasury outsourcing service.”
ETOS is the only provider to offer outsourced specialist treasury middle and back-office operations in New Zealand and Australian markets. Established in 2001, the business has built up a strong client base in New Zealand with a growing number of Australian organisations following suit over the past eight years.
In the beginning…
New Zealand treasury advisors Richard Eaddy and Roger Kerr first identified the need for an outsourced treasury operations service after encountering a range of companies facing difficulties managing foreign exchange and interest rates. The launch of an Australian online treasury management system offering centralised access to treasury information was the catalyst for ETOS’ inception. The resulting outsourcing service provided better reporting, appropriate controls, and segregation of duties between front and back-office functions.
Roger Kerr and Richard Eaddy headed up the newly formed company and approached Meridian Energy’s Treasurer with a proposal. Lesley Mitchell joined ETOS soon after Meridian was brought on board, then Zespri signed up as ETOS’ second client. Leadership of ETOS has held steady over the years with Lesley moving through the ranks to take over from Richard as CEO in 2007. Lesley became Executive Director in 2019, passing on the CEO role to Bruce Edhouse.
Twenty years on, ETOS supports a large client base across Australasia. The ETOS team is proud to provide day-to-day operational treasury support to household names like Coca-Cola Amatil, The Warehouse, Fletcher Building, Auckland Council — and both Meridian and Zespri.